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...
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oai-11362-396172020-03-06T16:50:27Z Is financial literacy an economic good? Castro, Rubén Fortunato, Andrés FINANZAS CONSUMO EDUCACION DEL CONSUMIDOR MEDICION EVALUACION ANALISIS MATEMATICO FINANCE CONSUMPTION CONSUMER EDUCATION MEASUREMENT EVALUATION MATHEMATICAL ANALYSIS 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. 2015-12-22T12:25:13Z 2015-12-22T12:25:13Z 2015-08 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/39617 LC/G.2643-P 8 en CEPAL Review CEPAL Review 116 .pdf application/pdf CHILE CHILE |
| institution |
Cepal |
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Cepal |
| language |
English |
| topic |
FINANZAS CONSUMO EDUCACION DEL CONSUMIDOR MEDICION EVALUACION ANALISIS MATEMATICO FINANCE CONSUMPTION CONSUMER EDUCATION MEASUREMENT EVALUATION MATHEMATICAL ANALYSIS |
| spellingShingle |
FINANZAS CONSUMO EDUCACION DEL CONSUMIDOR MEDICION EVALUACION ANALISIS MATEMATICO FINANCE CONSUMPTION CONSUMER EDUCATION MEASUREMENT EVALUATION MATHEMATICAL ANALYSIS Castro, Rubén Fortunato, Andrés Is financial literacy an economic good? |
| description |
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. |
| format |
Texto |
| author |
Castro, Rubén Fortunato, Andrés |
| author_facet |
Castro, Rubén Fortunato, Andrés |
| author_sort |
Castro, Rubén |
| title |
Is financial literacy an economic good? |
| title_short |
Is financial literacy an economic good? |
| title_full |
Is financial literacy an economic good? |
| title_fullStr |
Is financial literacy an economic good? |
| title_full_unstemmed |
Is financial literacy an economic good? |
| title_sort |
is financial literacy an economic good? |
| publishDate |
2015 |
| url |
http://hdl.handle.net/11362/39617 |
| work_keys_str_mv |
AT castroruben isfinancialliteracyaneconomicgood AT fortunatoandres isfinancialliteracyaneconomicgood |
| _version_ |
1718437549601456128 |