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Replication data for: Keeping It Simple: Financial Literacy and Rules of Thumb

Resource Type
  • Drexler, Alejandro
  • Fischer, Greg
  • Schoar, Antoinette
Publication Date
  • Abstract

    Micro-entrepreneurs often lack the financial literacy required to make important financial decisions. We conducted a randomized evaluation with a bank in the Dominican Republic to compare the impact of two distinct programs: standard accounting training versus a simplified, rule-of-thumb training that taught basic financial heuristics. The rule-of-thumb training significantly improved firms' financial practices, objective reporting quality, and revenues. For micro-entrepreneurs with lower skills or poor initial financial practices, the impact of the rule-of-thumb training was significantly larger than that of the standard accounting training, suggesting that simplifying training programs might improve their effectiveness for less sophisticated individuals.
  • Is supplement to
    DOI: 10.1257/app.6.2.1 (Text)
  • Drexler, Alejandro, Greg Fischer, and Antoinette Schoar. “Keeping It Simple: Financial Literacy and Rules of Thumb.” American Economic Journal: Applied Economics 6, no. 2 (April 2014): 1–31.
    • ID: 10.1257/app.6.2.1 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Drexler, Alejandro; Fischer, Greg; Schoar, Antoinette (2014): Replication data for: Keeping It Simple: Financial Literacy and Rules of Thumb. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset.