Is It Necessary to Launch a School-Based Financial Literacy Curriculum? Evidence From China.

ABSTRACT: As starting university is a critical independence milestone for many young people, it would also be the best time to provide them with some financial education (FE). Although there have been many initiatives aimed at enhancing individual financial literacy (FL) and/or financial decision-making, meta-analyses have shown that the effectiveness of FE has been mixed. This study examined the driving forces behind the decision by college students to enroll in a targeted financial literacy curriculum (FLC) and the impact of this attendance on their FL. An endogenous switching model (ESM) was employed to account for the heterogeneity in the decision to attend or not attend the FLC and to counteract any unobservable characteristics. It was found that students with higher self-perceived FL did not p

SUBMITTER: Tan X 

PROVIDER: S-EPMC9063735 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature