Financial education and spillover effects

Kallenos, Theodosis; Milidonis, Andreas; Nishiotis, George; Zenios, Stavros

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.

Citation

Kallenos, T., Milidonis, A., Nishiotis, G., & Zenios, S. (online). Financial education and spillover effects. Empirica: Journal of European Economics, https://doi.org/10.1007/s10663-025-09647-1

• Journal Article Type: Article
• Acceptance Date: Feb 3, 2025
• Online Publication Date: Mar 20, 2025
• Deposit Date: Mar 25, 2025
• Publicly Available Date: Mar 26, 2025
• Journal: Empirica
• Print ISSN: 0340-8744
• Electronic ISSN: 1573-6911
• Publisher: Springer
• Peer Reviewed: Peer Reviewed
• DOI: https://doi.org/10.1007/s10663-025-09647-1
• Keywords: Financial education, Financial literacy, Spillover, University course
• Public URL: https://durham-repository.worktribe.com/output/3721502