Title: Replication Data for: Keeping It Simple: Financial Literacy and Rules of Thumb

Type Dataset Drexler, Alejandro, Fischer, Greg, Schoar, Antoinette (2018): Replication Data for: Keeping It Simple: Financial Literacy and Rules of Thumb. Harvard Dataverse. Dataset. https://dataverse.harvard.edu/dataset.xhtml?persistentId=doi:10.7910/DVN/QWKNBI

Authors: Drexler, Alejandro (Federal Reserve Bank of Chicago) ; Fischer, Greg (London School of Economics and Political Science) ; Schoar, Antoinette (MIT Sloan School of Management) ; Drexler, Alejandro (Federal Reserve Bank of Chicago) ; Fischer, Greg (London School of Economics and Political Science) ; Schoar, Antoinette (MIT Sloan School of Management) ;

Links

• Item record in Abdul Latif Jameel Poverty Action Lab Dataverse
• Digital object URL

Summary

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.

More information

• DOI: 10.7910/DVN/QWKNBI

Subjects

• Social Sciences

Dates

• Publication date: 2018
• Submitted: August 10, 2018
• Updated: April 02, 2020

Notes

Rights

• info:eu-repo/semantics/openAccess
• https://creativecommons.org/publicdomain/zero/1.0/ CC0 Waiver

Format

electronic resource

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