Challenges in assessing the effectiveness of financial education programs: The Colombian case
Financial Education Programs –FEP– enjoy widespread governmental and private support and are considered essential tools for improving financial literacy, encouraging financial inclusion, and increasing consumer financial protection. Therefore, assessing their effectiveness is critical to guarantee t...
- Autores:
- Tipo de recurso:
- article
- Fecha de publicación:
- 2017
- Institución:
- Pontificia Universidad Javeriana
- Repositorio:
- Repositorio Universidad Javeriana
- Idioma:
- eng
- OAI Identifier:
- oai:repository.javeriana.edu.co:10554/23570
- Acceso en línea:
- http://revistas.javeriana.edu.co/index.php/cuadernos_admon/article/view/14374
http://hdl.handle.net/10554/23570
- Palabra clave:
- Rights
- openAccess
- License
- Derechos de autor 2017 Cuadernos de Administración
| Summary: | Financial Education Programs –FEP– enjoy widespread governmental and private support and are considered essential tools for improving financial literacy, encouraging financial inclusion, and increasing consumer financial protection. Therefore, assessing their effectiveness is critical to guarantee that public and private resources are allocated wisely. The available empirical literature casts serious doubts on the effectiveness of FEP in achieving their objectives. Even properly designed –from an impact evaluation viewpoint– FEP fail to deliver long-run effects on individuals’ financial literacy or financial outcomes. We highlight the challenges to evaluate the impact of FEP. We showcase the international experiencein assessing the effectiveness of these programs and offer a set of recommendations regarding the attributes that FEP should have to allow serious policy evaluation. |
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