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On the effect of financial education on financial literacy: evidence from a sample of college students

Published online by Cambridge University Press:  05 December 2018

Agar Brugiavini ,
Danilo Cavapozzi ,
Mario Padula  and
Yuri Pettinicchi Open the ORCID record for Yuri Pettinicchi [Opens in a new window]
Agar Brugiavini
Affiliation:
Department of Economics, Ca' Foscari University of Venice, Cannaregio 873, 30121Venice, Italy
Danilo Cavapozzi
Affiliation:
Department of Economics, Ca' Foscari University of Venice, Cannaregio 873, 30121Venice, Italy
Mario Padula
Affiliation:
Department of Economics, Ca' Foscari University of Venice, Cannaregio 873, 30121Venice, Italy Commissione di Vigilanza sui Fondi Pensione (COVIP), Piazza Augusto Imperatore 27, 00186Rome, Italy
Yuri Pettinicchi*
Affiliation:
MEA - Max Plank Institute for Social Law and Social Policy, Amalienstrasse 33, Munich, D-80799, Germany
*
*Corresponding author. Email: pettinicchi@mea.mpisoc.mpg.de
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Abstract

Based on a sample of university students, we provide evidence that a small-scale training intervention has both a statistically and economically significant effect on subjective and objective assessments of financial knowledge. We also show that the intervention increases self-assessed more than actual financial knowledge. The intervention consists of measuring financial literacy before and after a small on-line course and is administered through an on-line platform.

Keywords

Financial educationfinancial literacyinvestment attitudesplanning

JEL classification

D14: Household Saving • Personal Finance G11: Portfolio Choice • Investment Decisions I20: General
Type
Article
Information
Journal of Pension Economics & Finance , Volume 19 , Issue 3 , July 2020 , pp. 344 - 352
Copyright
Copyright © Cambridge University Press 2018

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