• A Toolkit for Evaluation of Financial Capability Programs in Low- and Middle-income Countries


    The Russia Trust Fund's Toolkit focuses on the specific challenges of evaluating financial capability interventions in the low-income and middle-income country setting. This Toolkit provides a practical guide to the various aspects of conducting such evaluations that address the specific needs of financial capability programs in the developing world. Also available: Summary (PDF)

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  • Summary - Evaluation Studies of Programs to Enhance Financial Capability in Low- and Middle-income Countries


    This booklet summarizes the World Bank's study of field evaluations and highlights the lessons learned from their implementation. The evaluations were selected based on their innovative nature and potential to develop and illustrate solutions to methodological challenges.

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  • Harnessing Emotional Connections to Improve Financial Decisions: Evaluating the Impact of Financial Education in Mainstream Media


    This study measures the effects of a financial literacy message delivered through a soap opera called "Scandal!" to [missing] low-income households in South Africa. The study finds that viewers who watched the storyline related to financial literacy showed significant improvements in financial knowledge and behavior, including greater likelihood to borrow from formal sources and reduced gambling.

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  • Social Networks, Financial Literacy and Index Insurance


    This study examined the effects of financial literacy training as well as targeted discount vouchers in encouraging farmers in rural India and Kenya to take up index-based weather insurance. The study found that while the vouchers only had effects on direct recipients, the financial literacy materials, delivered through a comic book, had positive spillover effects in higher uptake of drought insurance.

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  • The Impact of Financial Literacy Training for Migrants


    This paper presents the results of a randomized experiment designed to measure the impact of providing financial literacy training to migrant workers in Australia and New Zealand. The training increased financial knowledge and information seeking behavior and reduced the risk of switching to costlier remittance products.

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  • OECD/INFE Set of Criteria, Principles, Guidelines and Policy Guidance to Improve Financial Education - Part 3: Measurement and Evaluation Tools


    In this publication, the OECD/INFE high-level principles and tools for evaluation and measurment are presented. The evaluation tool focuses on assessing the effectiveness of financial education programmes, whilst the measurement tool is designed to capture levels of financial literacy within the population and by various subgroups (such as gender or age). The other parts of this 3-part series are available in Policies & Practices section.

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  • Measuring Financial Capability: A New Instrument and Results from Low- and Middle-income Countries


    Under the RTF work program, a team of researchers has led a rigorous process of developing data collection methods and analytical procedures to measure the level and distribution of financial capability in low- and middle-income countries. Also available: Summary (PDF)

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  • Measuring Financial Capability: Questionnaires and Implementation Guidance for Low- and Middle-income Countries


    This manual is designed to provide guidance to institutions, researchers, and survey firms on how to measure financial capability in middle- and low-income countries using a new survey instrument that has been developed and tested, from start to end, in middle- and low-income countries.

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  • Uganda Financial Education Impact Project


    This study examines the effect of an eight-week financial education module on low-income households' financial attitudes and behaviors in Uganda. The study shows that the training led to increased knowledge, skills and attitudes around financial literacy, but that these did not always translate into direct behavior change.

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  • Financial Capability in Low- and Middle-income Countries: Measurement and Evaluation


    This report provides an overview of the work program implemented by the World Bank and funded by the Russia Financial Literacy and Education Trust Fund (RTF). It highlights the significant contributions of this work program to the conceptual development and measurement of financial capability and the evaluation of the results.

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