High School Economic Education and Access to Financial Services |
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| Authors: | PAUL W GRIMES KEVIN E ROGERS REBECCA CAMPBELL SMITH |
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| Institution: | Paul W. Grimes (paul.grimes@msstate.edu) is a Professor of Economics, Kevin E. Rogers (kevin.rogers@msstate.edu) is an Associate Professor of Economics and Rebecca Campbell Smith (bsmith@cobilan.msstate.edu) is Graduate Faculty of Economics, all at Mississippi State University. |
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| Abstract: | This study provides a long-term assessment of economic education by examining an individual's decision to have a bank account. Using the results of a nationwide telephone survey, high school courses in economics and business reduced the probability that an adult was unbanked, ceteris paribus. In addition, adults who demonstrated a higher level of understanding of basic economic concepts were less likely to be unbanked. The results indicated that an individual's understanding of the economic system was as important as formal coursework in explaining access to basic financial services. |
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