-
Externe referierte Aufsätze
Mobile money is an important instrument to improve the degree of financial inclusion, especially in developing countries. However, having a mobile money account does not imply that this account is actually used. In our sample, 86% of microentrepreneurs own a mobile money account, but only 49% actively use it – the resulting gap indicates unmet opportunities. We estimate that mobile money reaches up ...
In:
Journal of Development Studies
58 (2022), 4, S. 671-691
| Jana S. Hamdan, Katharina Lehmann-Uschner, Lukas Menkhoff
-
Externe referierte Aufsätze
This randomized controlled trial examines the effect of a new finance training style during which participants are given personalized feedback on their financial business outcomes in addition to a rule-of-thumb training approach. We compare this with the effects of a rule-of-thumb training by itself and a control group. Targeting about 500 small entrepreneurs in Uganda, we find that the personalized ...
In:
Economic Development and Cultural Change
70 (2022), 3, S. 1197-1227
| Antonia Grohmann, Lukas Menkhoff, Helke Seitz
-
Externe referierte Aufsätze
We present evidence from a repeated survey on risky asset holdings carried out on a representative sample of the German population six times between April and June 2020. Given the size of the Covid-19 shock, we find little evidence of portfolio rebalancing in April 2020. In May, however, individual investors started buying heavily, parallel to market recovery. The cross-section shows large differences ...
In:
The Review of Income and Wealth
68 (2022), 2, . 497-517
| Lukas Menkhoff, Carsten Schröder
-
Externe referierte Aufsätze
We conduct a randomized field experiment to study the effects of two financial education interventions offered to small-scale retailers in rural western Uganda. The treatments contrast “active learning” with traditional “lecturing” within standardized lesson-plans. After six months, active learning has a positive effect on savings and investment outcomes, in contrast to small or zero effects for lecturing. ...
In:
Journal of Development Economics
157 (2022), 102870, 9 S.
| Tim Kaiser, Lukas Menkhoff
-
Externe referierte Aufsätze
We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total sample size of over 160,000 individuals. Many of these experiments are published in top economics and finance journals. The evidence shows that financial education programs have, on average, positive causal treatment effects on financial knowledge ...
In:
Journal of Financial Economics
145 (2022), S. 255–272
| Tim Kaiser, Annamaria Lusardi, Lukas Menkhoff, Carly Urband
-
Externe referierte Aufsätze
Evidence on the effectiveness of foreign exchange (FX) interventions is either limited to short horizons or hampered by debatable identification. We address these limitations by identifying a structural vector autoregressive model for the daily frequency with an external instrument. Generally we find, for freely floating currencies, that FX intervention shocks significantly affect exchange rates and ...
In:
The Review of Economics and Statistics
103 (2021), 5, S. 939–953
| Lukas Menkhoff, Malte Rieth, Tobias Stöhr
-
Externe referierte Aufsätze
This study tests the prediction that perceived corruption reduces ethical behavior. Integrating a standard “cheating” experiment into a broad household survey in rural Thailand, we find tentative support for this prediction: respondents who perceive corruption in state affairs are more likely to cheat and, thus, to fortify the negative consequences of corruption. Interestingly, there is a small group ...
In:
World Development
145 (2021), 105526, 15 S.
| Olaf Hübler, Melanie Koch, Lukas Menkhoff, Ulrich Schmidt
-
Externe referierte Aufsätze
We develop and implement a new measure for inequality aversion: two peers are endowed with identical binary lotteries and the only choice they make is whether they want to play out the lotteries independently or with perfect positive correlation (coupling). Coupling has the core reason to prevent outcome inequality. We implement the method in a survey in rural Thailand as well as in a supplemental ...
In:
Journal of Economic Behavior & Organization
191 (2021), S. 236–256
| Melanie Koch, Lukas Menkhoff, Ulrich Schmidt
-
Externe referierte Aufsätze
This research studies the stylized fact of a “gender gap” in that women tend to have lower financial literacy than men. Our data which samples middle-class people from Bangkok does not show a gender gap for those with at least minimum wage earnings. This result is not explained by men’s low financial literacy, nor by women’s high income and good education. Rather, country characteristics may influence ...
In:
Journal of Behavioral and Experimental Finance
31 (2021), 100537, 10 S.
| Antonia Grohmann, Olaf Hübler, Roy Kouwenberg, Lukas Menkhoff
-
Externe referierte Aufsätze
We study the literature on school financial education programs for children and youth via a quantitative meta-analysis of 37 (quasi-) experiments. We find that financial education treatments have, on average, sizeable impacts on financial knowledge (+0.33 SD), similar to educational interventions in other domains. Additionally, we document smaller effects on financial behaviors among students (+0.07 ...
In:
Economics of Education Review
78 (2020), 101930, 15 S.
| Tim Kaiser, Lukas Menkhoff