{"title":"How motivations and costs affect financial knowledge learning? Evidence from a large-scale FinTech experiment in China","authors":"","doi":"10.1016/j.chieco.2024.102294","DOIUrl":null,"url":null,"abstract":"<div><div>Utilizing the launch of mobile wealth management services in China in 2013 as a shock to financial education, we analyze a panel of 16,440 households through a difference-in-differences strategy to examine how learning motivations and costs affect financial knowledge learning. Results show that using mobile services encourages risky asset holdings and enhances the self-discipline to learn, which, coupled with low-cost and personalized learning tools provided through the services, increases financial knowledge. We contribute by utilizing a large-scale experiment beyond the classroom to show the role of learning motivations and costs in financial knowledge learning, therefore help clear the controversy on the effectiveness of financial education.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":null,"pages":null},"PeriodicalIF":5.2000,"publicationDate":"2024-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"中国经济评论","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1043951X24001834","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Utilizing the launch of mobile wealth management services in China in 2013 as a shock to financial education, we analyze a panel of 16,440 households through a difference-in-differences strategy to examine how learning motivations and costs affect financial knowledge learning. Results show that using mobile services encourages risky asset holdings and enhances the self-discipline to learn, which, coupled with low-cost and personalized learning tools provided through the services, increases financial knowledge. We contribute by utilizing a large-scale experiment beyond the classroom to show the role of learning motivations and costs in financial knowledge learning, therefore help clear the controversy on the effectiveness of financial education.
期刊介绍：
The China Economic Review publishes original works of scholarship which add to the knowledge of the economy of China and to economies as a discipline. We seek, in particular, papers dealing with policy, performance and institutional change. Empirical papers normally use a formal model, a data set, and standard statistical techniques. Submissions are subjected to double-blind peer review.
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