Gray, D., Montagnoli, A. orcid.org/0000-0002-8260-4531 and Moro, M. (2017) Does education improve financial outcomes? Quasi-experimental evidence from Britain. Working Paper. Sheffield Economic Research Paper Series (SERPS), 201701 (2017010). Department of Economics, University of Sheffield ISSN 1749-8368
Abstract
This paper uses two compulsory schooling reforms in Britain (1947 and 1972) to study the relationship between education and financial behaviours. Employing a regression discontinuity design to analyse nationally representative data from the UK, we find limited evidence that one extra year of schooling led to systematically different financial behaviours. One exception is the promotion of more positive saving behaviours amongst females affected by the 1947 reform. We argue that, despite clear positive spill-overs of educational reforms, desirable financial behaviours require specific and targeted education policies and we point to the growing research in this field to support this conclusion.
Metadata
Item Type: | Monograph |
---|---|
Authors/Creators: |
|
Copyright, Publisher and Additional Information: | The Sheffield Economic Research Paper Series (SERPS) offers a forum for the research output of the Department of Economics, University of Sheffield. Papers are reviewed for quality and presentation by two internal referees and a departmental editor. However, the contents and opinions expressed remain the responsibility of the author(s). Comments are welcomed and should be addressed to the individual author(s). |
Keywords: | Compulsory Schooling Laws; Education; Financial Literacy; Financial Outcomes; Regression Discontinuity |
Dates: |
|
Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Economics (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 18 May 2017 15:18 |
Last Modified: | 18 May 2017 15:18 |
Published Version: | https://www.sheffield.ac.uk/economics/research/ser... |
Status: | Published |
Publisher: | Department of Economics, University of Sheffield |
Series Name: | Sheffield Economic Research Paper Series (SERPS) |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:115069 |