Leveling Up Financial Literacy: Evidence from Game-Based Intervention with Aspiration Treatment amongst Rural Women in India

Author

Akash Shaji, University of San FranciscoFollow

Date of Graduation

Spring 5-18-2024

Document Type

Thesis

Degree Name

Master of Science in International and Development Economics (MSIDEC)

College/School

College of Arts and Sciences

Department/Program

Economics

First Advisor

Bruce Wydick

Abstract

In India, rural women exhibit notably low financial literacy levels, necessitating effective and scalable educational interventions. Our randomized controlled trial evaluated a novel approach, combining game-based financial literacy education with a video documentary-based aspirations intervention, targeting women in self-help groups in Karnataka. The study included 348 participants and employed an ANCOVA model adjusted for clustering to analyze the effects. The results demonstrate significant improvements in financial literacy and aspirations, particularly when interventions are combined. The game-based intervention alone significantly enhanced digital literacy, financial confidence, and behavioral indices such as agency, pathways, and aspirations. The aspirations intervention also independently affected financial confidence and aspiration indices. These results suggest that targeted, innovative interventions can effectively advance financial literacy and aspirations in low and middle-income settings, providing valuable insights for designing comprehensive financial education programs.

Recommended Citation

Shaji, Akash, "Leveling Up Financial Literacy: Evidence from Game-Based Intervention with Aspiration Treatment amongst Rural Women in India" (2024). Master's Theses. 1556.
https://repository.usfca.edu/thes/1556