School Banking as a Strategy for Strengthening Youth Economic Participation in Developing Countries: Lessons from YouthSave

This study examines how schools can serve as the setting for financial education and financial services, increasing youth economic participation. Research in four developing countries finds an increase in youth savings account uptake when financial institutions provide opportunities at schools for youth to receive financial education, open savings accounts, and make deposits. Findings are that school banking can overcome some of the regulatory, geographic, and information barriers that limit youth access to safe and affordable savings services. Marginalized youth, including those who are low-income and females, participate as much as other youth. We conclude that schools can play an important role in increasing youth economic participation, a positive step toward economic strengthening and overall well-being. As a possible implication, school-based health programming might consider integrating school banking features, such as opening savings accounts, into future program design and implementation.
Source: Global Social Welfare - Category: International Medicine & Public Health Source Type: research