TY  - UNPD
A1  - Bu, Di
A1  - Hanspal, Tobin
A1  - Liao, Yin
A1  - Liu, Yong
T1  - Financial literacy and self-control in fintech: Evidence from a field experiment on online consumer borrowing
T2  - SAFE working paper series ; No. 273
N2  - 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.
T3  - SAFE working paper - 273 
KW  - Financial literacy
KW  - online borrowing
KW  - Consumer credit
KW  - Self-control
KW  - FinTech
KW  - China
Y1  - 2020
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/53375
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-533750
IS  - October 2019
PB  - SAFE
CY  - Frankfurt am Main
ER  -