Keeping It Simple: Financial Literacy and Rules of Thumb

By Alejandro Drexler, Greg Fischer, Antoinette Schoar. 2014

771 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/314aa52d92984f0399c21b4e244a1cc9c641820d

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Economics and Econometrics

Citations in the corpus

The Effects of Business Accelerators on Venture Performance: Evidence from Start-Up Chile (2017, background): “We test for this potential source of bias by examining survey-reporting errors and their association with schooling (cf. Drexler et al. 2014; Berge, Bjorvatn, and Tungodden 2015; de Mel et al. 2014).”
Teaching teenagers in finance: does it work? (2015, background): “A large literature has focused on adults and small entrepreneurs and found mixed results, (e.g., Bruhn and Zia, 2011; Cole et al., 2011; Carpena et al., 2011; Collins, 2012; Drexler et al., 2010; Gibson et al., 2012; and Karlan and Valdivia, 2011).”
Financial Literacy Around the World: An Overview of the Evidence with Practical Suggestions for the Way Forward (2012, neutral): “In terms of improving business outcomes for all clients, Drexler et al. (2010) examine the effect of changing the curriculum of a business training program.”
Behavioral Design: A New Approach to Development Policy (2014, background): “A test of such a ‘rules-of-thumb’-based financial education program in the Dominican Republic found large increases in the adoption and use of good financial practices (such as separating business and personal accounts) as well as a jump in profitability (Drexler et al. 2011).”
Innovation and productivity in formal and informal firms in Ghana (2017, positive): “Since then, management and managerial skills have received increased attention as a factor explaining differences in firms’ performance in developing countries with evidence spanning various geographical areas (Bloom et al., 2013; Drexler et al., 2014; Karlan and Valdivia, 2011; Mano et al., 2012).”
Why Do Defaults Affect Behavior? Experimental Evidence from Afghanistan (2018, neutral): “Third, and closely related, there may be a large mental cost associated with the complexity of forming a financial plan (Lusardi and Mitchell 2011; Cole, Sampson, and Zia 2011; Drexler, Fischer, and Schoar 2014).”
Human and Financial Capital for Microenterprise Development: Evidence from a Field and Lab Experiment (2015, background): “24 Potentially, the growth in sales and profits in the treated groups could stem from the crowding out of sales from control group businesses, as discussed in Drexler et al. (2012). However, the fact that only three percent of the trained entrepreneurs know non‐trained entrepreneurs, sugg”
An institutional logics approach to social entrepreneurship: Market logic, religious diversity, and resource acquisition by microfinance organizations (2016, background): “…that microfinance is not the magic bullet that many of its proponents would like to believe (Angelucci et al., 2012; Karlan and Zinman, 2010), and it seems most effective when complemented by other supporting programs like training and education (Drexler et al., 2014; Karlan and Valdivia, 2010).”
Stimulating managerial capital in emerging markets: the impact of business training for young entrepreneurs (2013, background): “Drexler et al. (2011) show that a basic rules-of-thumb based training, but not formal business training, leads to improvements in business practices for micro-entrepreneurs in the Dominican Republic. The rules-of-thumb based training also increases sales in bad weeks, but neither of the training int”