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Replication Data for: Keeping It Simple: Financial Literacy and Rules of Thumb

Harvard Dataverse (Africa Rice Center, Bioversity International, CCAFS, CIAT, IFPRI, IRRI and WorldFish)

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Title Replication Data for: Keeping It Simple: Financial Literacy and Rules of Thumb
 
Identifier https://doi.org/10.7910/DVN/QWKNBI
 
Creator Drexler, Alejandro
Fischer, Greg
Schoar, Antoinette
 
Publisher Harvard Dataverse
 
Description Micro-entrepreneurs often lack the financial literacy required to make important financial decisions. We conducted a randomized evaluation with a bank in the Dominican Republic to compare the impact of two distinct programs: standard accounting training versus a simplified, rule-of-thumb training that taught basic financial heuristics. The rule-of-thumb training significantly improved firms' financial practices, objective reporting quality, and revenues. For micro-entrepreneurs with lower skills or poor initial financial practices, the impact of the rule-of-thumb training was significantly larger than that of the standard accounting training, suggesting that simplifying training programs might improve their effectiveness for less sophisticated individuals.
 
Subject Social Sciences
 
Contributor Parrado, Andres