Does financial education impact school attainment? Experimental evidence from Brazil

Daniele Chiavenato, Ricardo Madeira, Victor Vaccaro

Research output: Working paper

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Abstract

an an applied mathematics curriculum enhance student intrinsic motivation and improve math achievement? We tackle this question through a randomized control trial of a program that integrates financial education into the mathematics curriculum in Brazil. Spanning 190 public schools and over 15,000 students, our study reveals that the program significantly boosts students' interest in mathematics and enhances financial literacy and math performance, particularly among students from poorer socioeconomic backgrounds. Initially, the program strengthens these students' internal locus of control and broad interest in mathematics during the first year. By the second year's conclusion, it positively impacts their financial literacy, math proficiency, and specific socio-emotional skills crucial for the labor market. However, we do not observe significant changes in self-reported financial behaviors or attitudes as measured by a financial autonomy index.
Original languageEnglish
PublisherSocial Science Research Network (SSRN), Elsevier
Number of pages62
DOIs
Publication statusPublished - Oct 2024

Publication series

NameNova SBE Working Paper Series
No.666

Keywords

  • Financial Education
  • Socio-emotional Skills
  • Youth

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