Essays on financial education and behavioral household finance

Kaiser, Tim

Over the course of the past twenty years, globalization and the integration of financial systems have led to an increased complexity in financial markets. Living in such a globalized market-economy requires individuals and households to be equipped with a certain set of knowledge and skills to make well-informed and thoughtful decisions. In developing economies, the integration of financial systems has led to financial inclusion of populations that have little experience with the complexity of formal financial products. Many fear that these developments may outpace the capacity of individuals and households to make informed financial choices. Unfortunately, evidence from an abundance of survey-data seems to suggest that individuals may indeed lack the financial literacy necessary to deal with these complexities. This dissertation contributes to this literature and consists of four papers on financial education and household finance. The first two papers are included in part I "Causal effects of financial education". This part uses a quantitative meta-analysis and a randomized field experiment to estimate the causal effects of financial education programs on financial literacy and individual financial behavior. The second part (II "Research on economic and social science education") seeks to contribute to the discourse in the field of research on economic and social science education: The two papers examine determinants teacher-professionalism and qualitative conceptions of students in schools respectively.

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Kaiser, Tim: Essays on financial education and behavioral household finance. 2017.

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