The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Keeping It Simple: Financial Literacy and Rules of Thumb
Open accessAbstract
Micro-entrepreneurs often lack the financial literacy required to make important financial decisions. We conducted a randomized evaluation with a bank in the Dominican Republic to compare the impact of two distinct programs: standard accounting training versus a simplified, rule-of-thumb training that taught basic financial heuristics. The rule-of-thumb training significantly improved firms' financial practices, objective reporting quality, and revenues. For micro-entrepreneurs with lower skills or poor initial financial practices, the impact of the rule-of-thumb training was significantly larger than that of the standard accounting training, suggesting that simplifying training programs might improve their effectiveness for less sophisticated individuals. (JEL D4, G21, J24, L25, L26, M41, O16)
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van Rooij, M., Lusardi, A., & Alessie, R. (2011) · Journal of Financial Economics · doi:10.1016/j.jfineco.2011.03.006 · Cited by 3,554 · cited 3×
“The first notable exception was Karlan and Valdivia (2011), which studies the impact of teaching basic finance concepts to micro-entrepreneurs.(8) Their study finds a large impact on clients’ knowledge of financial terms and reported business practices. Results are more mixed on real outcomes, such as sales or consump…”
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Metadata
- Authors
- Drexler, A., Fischer, G., & Schoar, A.
- Venue
- American Economic Journal: Applied Economics
- Publisher
- American Economic Association
- Published
- 2014-04-01
- Volume
- 6
- Issue
- 2
- Pages
- 1-31
- ISSN
- 1945-7782 (ISSN-L)
- 1945-7790
- OpenAlex
- W1547003862
- Cited by
- 714
- References
- 4
- FWCI
- 246.34
- Type
- journal article
- Language
- en
- Open access
- bronze
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