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...

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Tipo de recurso:
article
Fecha de publicación:
2017
Institución:
Pontificia Universidad Javeriana
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Repositorio Universidad Javeriana
Idioma:
eng
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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
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Derechos de autor 2017 Cuadernos de Administración
id JAVERIANA_464187600bded8127ba91efaf736f8d6
oai_identifier_str oai:repository.javeriana.edu.co:10554/23570
network_acronym_str JAVERIANA
network_name_str Repositorio Universidad Javeriana
repository_id_str
spelling Challenges in assessing the effectiveness of financial education programs: The Colombian caseAlvarez Franco, Pilar BeatrizMuñoz Murillo, Ana MelisaRestrepo Tobón, Diego AlexanderFinancial 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.Pontificia Universidad Javeriana2020-04-15T18:02:49Z2020-04-15T18:02:49Z2017-09-28http://purl.org/coar/version/c_970fb48d4fbd8a85Artículo de revistahttp://purl.org/coar/resource_type/c_6501info:eu-repo/semantics/articleArtículo revisado por paresinfo:eu-repo/semantics/publishedVersionPDFapplication/pdfhttp://revistas.javeriana.edu.co/index.php/cuadernos_admon/article/view/1437410.11144/Javeriana.cao30-54.caef1900-72050120-3592http://hdl.handle.net/10554/23570enghttp://revistas.javeriana.edu.co/index.php/cuadernos_admon/article/view/14374/16917Cuadernos de Administración; Vol 30 No 54 (2017); 155 - 180Cuadernos de Administración; Vol. 30 Núm. 54 (2017); 155 - 180Cuadernos de Administración; v. 30 n. 54 (2017); 155 - 180Derechos de autor 2017 Cuadernos de AdministraciónAtribución-NoComercial-SinDerivadas 4.0 Internacionalhttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2reponame:Repositorio Universidad Javerianainstname:Pontificia Universidad Javerianainstacron:Pontificia Universidad Javeriana2023-03-29T17:48:43Z
dc.title.none.fl_str_mv Challenges in assessing the effectiveness of financial education programs: The Colombian case
title Challenges in assessing the effectiveness of financial education programs: The Colombian case
spellingShingle Challenges in assessing the effectiveness of financial education programs: The Colombian case
Alvarez Franco, Pilar Beatriz
title_short Challenges in assessing the effectiveness of financial education programs: The Colombian case
title_full Challenges in assessing the effectiveness of financial education programs: The Colombian case
title_fullStr Challenges in assessing the effectiveness of financial education programs: The Colombian case
title_full_unstemmed Challenges in assessing the effectiveness of financial education programs: The Colombian case
title_sort Challenges in assessing the effectiveness of financial education programs: The Colombian case
dc.creator.none.fl_str_mv Alvarez Franco, Pilar Beatriz
Muñoz Murillo, Ana Melisa
Restrepo Tobón, Diego Alexander
author Alvarez Franco, Pilar Beatriz
author_facet Alvarez Franco, Pilar Beatriz
Muñoz Murillo, Ana Melisa
Restrepo Tobón, Diego Alexander
author_role author
author2 Muñoz Murillo, Ana Melisa
Restrepo Tobón, Diego Alexander
author2_role author
author
description 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.
publishDate 2017
dc.date.none.fl_str_mv 2017-09-28
2020-04-15T18:02:49Z
2020-04-15T18:02:49Z
dc.type.none.fl_str_mv http://purl.org/coar/version/c_970fb48d4fbd8a85
Artículo de revista
http://purl.org/coar/resource_type/c_6501
info:eu-repo/semantics/article
Artículo revisado por pares
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://revistas.javeriana.edu.co/index.php/cuadernos_admon/article/view/14374
10.11144/Javeriana.cao30-54.caef
1900-7205
0120-3592
http://hdl.handle.net/10554/23570
url http://revistas.javeriana.edu.co/index.php/cuadernos_admon/article/view/14374
http://hdl.handle.net/10554/23570
identifier_str_mv 10.11144/Javeriana.cao30-54.caef
1900-7205
0120-3592
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv http://revistas.javeriana.edu.co/index.php/cuadernos_admon/article/view/14374/16917
Cuadernos de Administración; Vol 30 No 54 (2017); 155 - 180
Cuadernos de Administración; Vol. 30 Núm. 54 (2017); 155 - 180
Cuadernos de Administración; v. 30 n. 54 (2017); 155 - 180
dc.rights.none.fl_str_mv Derechos de autor 2017 Cuadernos de Administración
Atribución-NoComercial-SinDerivadas 4.0 Internacional
http://creativecommons.org/licenses/by/4.0
info:eu-repo/semantics/openAccess
http://purl.org/coar/access_right/c_abf2
rights_invalid_str_mv Derechos de autor 2017 Cuadernos de Administración
Atribución-NoComercial-SinDerivadas 4.0 Internacional
http://creativecommons.org/licenses/by/4.0
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv PDF
application/pdf
dc.publisher.none.fl_str_mv Pontificia Universidad Javeriana
publisher.none.fl_str_mv Pontificia Universidad Javeriana
dc.source.none.fl_str_mv reponame:Repositorio Universidad Javeriana
instname:Pontificia Universidad Javeriana
instacron:Pontificia Universidad Javeriana
instname_str Pontificia Universidad Javeriana
instacron_str Pontificia Universidad Javeriana
institution Pontificia Universidad Javeriana
reponame_str Repositorio Universidad Javeriana
collection Repositorio Universidad Javeriana
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