Work

Financial education and spillover effects

Year: 2025

Type: article

Abstract: Using a newly introduced, semester-long university course on financial education in Cyprus, a country of low financial literacy, we find evidence of financial knowledge spillovers from university students to their parents. We measure the financial knowledge score of students and parents before and after the introduction of the course, using both a treatment and a control sample. The spillover effect is economically significant, and it is driven by the subsample of students who have frequent face-to-face interaction with their parents.

Source: Empirica

DOI: 10.1007/s10663-025-09647-1

Authors: Theodosis Kallenos, Andreas Milidonis, George Nishiotis, Stavros Zenios

Institutions: Central Bank of Cyprus, University of Cyprus, Durham University, Bruegel

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Quality education

Open Access status: hybrid

Estimated APC paid: $3,190