We examine the role of trust in financial institutions as a necessary condition for the wider use of formal financial services by the poor. We randomly assigned beneficiaries of a conditional cash transfer program in 130 villages in Peru to attend a 3.5 hour training session designed to build...

We randomly assigned beneficiaries of a conditional cash transfer program in Peru to attend a 3 hour training session designed to build their trust in financial institutions. We find that the intervention: (a) significantly increased trust in banks, but had no effect on financial literacy; (b)...

"A variety of theories of skill formation suggest that investments in schooling and other dimensions of human capital will have lower returns if children do not have adequate levels of cognitive and social skills at an early age. This paper analyzes the impact of a randomized cash transfer...

"This paper analyzes changes in the allocation of child labor within the household in reaction to exogenous shocks created by a social program in Nicaragua. The paper shows that households that randomly received a conditional cash transfer compensated for some of the intra-household differences,...