NDLI: Financial Literacy and Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing

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Financial Literacy and Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing

Content Provider	Scilit
Author	Bu, Di Hanspal, Tobin Liao, Yin Liu, Yong
Copyright Year	2019
Description	Journal: SSRN Electronic Journal We report the results of a longitudinal intervention with students across five universities in China designed to reduce online consumer debt. Our research design allocates individuals to either a financial literacy treatment, a self-control training program, or a zero-touch control group. Financial education interventions improve test scores on general financial literacy but only marginally affect future online borrowing. Our self-control treatment features detailed tracking of spending and borrowing activity with a third-party app and introspection about individuals' consumption with a counselor. These sessions reduce future online borrowing, delinquency charges, and borrowing for entertainment reasons - and are driven by the male subjects in the sample. Our results suggest that self-regulation can affect financial behavior in e-commerce platforms.
Related Links	https://www.econstor.eu/bitstream/10419/215433/1/1693372886.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3469571
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3469571
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2019-10-14
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Financial Literacy
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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