Accelerating the Impact of Financial Literacy Training Programmes on Household Consumption by Empowering Women

32 Pages Posted: 10 Mar 2021

See all articles by Isaac Koomson

Isaac Koomson

Network for Socioeconomic Research and Advancement (NESRA); The University of Queensland

Renato Villano

University of New England (Australia) - UNE Business School

David Hadley

University of New England (Australia) - UNE Business School

Date Written: February 2, 2021

Abstract

This study examines the impact of a joint financial literacy and women’s empowerment training programme on household consumption as a welfare indicator. Using data collected from a randomised controlled trial conducted in Ghana, we tested for baseline balance and applied ordinary least squares to estimate endline impact. Our findings revealed that the impact of financial literacy on household consumption is influenced by the design and delivery of the programme. A weaker impact is achieved when financial literacy training is offered alone. The ensuing stronger short-term impact of financial literacy training on household consumption is achieved through the inclusion of a women’s empowerment module. The joint delivery of the programme significantly improved household consumption for female-beneficiary and younger households. We advocate the inclusion of women’s empowerment training in financial literacy training programmes to accelerate impact on household welfare through increased household consumption

Keywords: Financial Literacy; Consumption; Women’s Empowerment; Poverty; Ghana

JEL Classification: C13, C93, D11, D12, I22

Suggested Citation

Koomson, Isaac and Villano, Renato and Hadley, David, Accelerating the Impact of Financial Literacy Training Programmes on Household Consumption by Empowering Women (February 2, 2021). Available at SSRN: https://ssrn.com/abstract=3777920 or http://dx.doi.org/10.2139/ssrn.3777920

Isaac Koomson (Contact Author)

Network for Socioeconomic Research and Advancement (NESRA) ( email )

Network for Socioeconomic Research and Advancement
Accra
Ghana

The University of Queensland ( email )

St Lucia
Brisbane, Queensland 4072
Australia

Renato Villano

University of New England (Australia) - UNE Business School

Armidale, NSW 2351
Australia

David Hadley

University of New England (Australia) - UNE Business School ( email )

Armidale, NSW 2351
Australia

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