Is financial literacy an economic good?
Financial literacy (fl) is generally regarded as an economic good which individuals choose whether or not to consume depending on how much of a contribution they expect it to make to the quality of their financial decision-making. This construct has not, however, been tested empirically. In this stu...
Guardado en:
| Autores principales: | , |
|---|---|
| Formato: | Texto |
| Lenguaje: | English |
| Publicado: |
2015
|
| Materias: | |
| Acceso en línea: | http://hdl.handle.net/11362/39617 |
| Etiquetas: |
Agregar Etiqueta
Sin Etiquetas, Sea el primero en etiquetar este registro!
|
| Sumario: | Financial literacy (fl) is generally regarded as an economic good which individuals choose whether or not to consume depending on how much of a contribution they expect it to make to the quality of their financial decision-making. This construct has not, however, been tested empirically. In this study we analyse variations in fl on the part of individuals who experience major life-cycle events that show up in the data and that can be assumed to have repercussions on their personal finances. The analysis of a panel made up of approximately 12,000 people indicates that there is a correlation between 13 of the 17 selected life events and financial decisions, but only one of those events (job training) is associated with a change in fl. This evidence casts doubt upon the conceptualization of fl as an economic good and is in line with a series of other studies that, for one reason or another, have questioned the soundness of the current conceptual
approach to FL. |
|---|