Does education improve financial outcomes? Quasi-experimental evidence from Britain

Publication type

Conference Paper

Authors

Daniel Gray, Alberto Montagnoli and Mirko Moro

Publication date

Summary

The authors analyse data from the British Household Panel Survey and the Understanding Society survey to examine whether children who had an extra year of schooling after changes in the law in 1947 and 1972 saved, invested and managed debt differently to other, similar children. The answer, when it comes to managing money, is no, although their education gave them better financial outcomes in general.

Subjects

Education, Savings And Assets, Household Economics, Debt: Indebtedness and Finance

Links

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  1. Does education improve financial outcomes? Quasi-experimental evidence from Britain
  2. More school didn't make Brits into better money managers