Anna Custers' study presents evidence from a randomised field experiment that was conducted in
Bhopal India. It delivers a two-fold contribution to the burgeoning field of financial
literacy theory. Firstly it investigates a specific link in the theoretical mechanism between
financial literacy and household well-being. Where most financial literacy research focuses on
the link between financial literacy training and demand for financial services Custers deals
with the question whether financial literacy training affects financial literacy levels. The
results of her experiment show that a financial literacy training programme for urban
microfinance clients positively affects average financial literacy levels. Secondly Custers'
study investigates a relatively under-researched topic in particular for developing countries:
The effect of trainer gender on learning outcomes and learning perceptions. She asks whether a
differential design of a financial literacy training programme based on trainer gender
differently affects financial literacy levels and learning perceptions among microfinance
clients. The results of the experiment suggest it does not matter whether male or female
trainers are employed. The results of her study provide an essential contribution to
identifying the best strategies for improving the financial literacy of the poor. Custers'
conclusion that specifically tailored instruction programmes irrespective of trainer gender
can greatly improve financial literacy levels is highly relevant to both academia and
professionals working in the field of financial literacy.
