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on Financial Literacy and Education |
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Issue of 2024‒08‒19
six papers chosen by |
| By: | Ozili, Peterson K |
| Abstract: | The objective of this article is to discuss the role of financial inclusion in combating financial crime. It was found that financial crime is a challenge in society. Financial crime is any action or omission that leads to unlawful or illegal financial dealings. Many countries are seeking ways to combat financial crime. Many ideas have been considered on how to combat financial crime. Financial inclusion is a possible solution for combating financial crime. Financial inclusion involves granting access to basic formal financial services to all segments of society. I show that financial inclusion makes the work of investigators easier by leaving an audit trail whenever financial crime is committed in the formal financial system. It helps investigators to detect fraud or financial crime that has occurred in the formal financial system. |
| Keywords: | financial inclusion, financial crime, fraud detection |
| JEL: | G21 G28 M42 M48 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121566 |
| By: | Paulina Y. Amtiran (Universitas Nusa Cendana, Kupang, Indonesia Author-2-Name: Anderias U. T. Anabuni Author-2-Workplace-Name: "Universitas Nusa Cendana, Kupang, Indonesia " Author-3-Name: Elisabeth Yuni Author-3-Workplace-Name: "Universitas Nusa Cendana, Kupang, Indonesia " Author-4-Name: Marselin Y. Balle Author-4-Workplace-Name: "Universitas Nusa Cendana, Kupang, Indonesia " Author-5-Name: "Jhimi Maima" Author-5-Workplace-Name: "Universitas Nusa Cendana, Kupang, Indonesia " Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | " Objective - The purpose of this study is to find the impact of financial literacy of micro and small enterprises on financial products. Methodology/Technique – Data was collected through the distribution of questionnaires. The method used was data analysis using multiple regression analysis technique. The sample of this study was 70 small and micro enterprises in Sumba Island, East Nusa Tenggara. Findings – The findings reveal a positive correlation between financial literacy and financial products. Novelty – Improving financial literacy among SMEs will lead to increased use of financial products. The significance of this study is to implement information dissemination and training programs to improve financial literacy and promote the adoption of financial products among SMEs in Sumba Island. Type of Paper - Empirical" |
| Keywords: | Inclusion, Financial Literacy, Financial Knowledge, Financial Behavior, Financial Attitude |
| JEL: | G02 G32 G39 |
| Date: | 2024–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:gtr:gatrjs:jfbr223 |
| By: | Michelle W. Bowman |
| Date: | 2024–07–09 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgsq:98528 |
| By: | George A. Kyriacou (Central Bank of Cyprus); Theodosis L. Kallenos (Central Bank of Cyprus); Ioanna S. Evangelou (Cyprus University of Technology); Lena T. Cleanthous (Central Bank of Cyprus); Charis P. Charalambous (Central Bank of Cyprus) |
| Abstract: | The paper evaluates financial literacy levels in Cyprus, drawing on data from the 2018 Financial Literacy Sampling Survey conducted by the Central Bank of Cyprus. The survey included 1, 000 participants aged 18 to 79. The questionnaire covered two sections: sociodemographic information and general financial behaviour, and financial knowledge, attitude, and behaviour, based on the OECD/INFE Toolkit. A key finding of the survey was that the average financial knowledge score in Cyprus was 4.78 out of 7, falling short of the OECD's benchmark for someone to be considered as financially literate, which is 5 out of 7. The survey results highlighted specific groups in greater need of financial education, including young people, the unemployed, women, low-income individuals, those with lower educational attainment, and citizens who did not take economics courses during secondary education. Additionally, lower financial knowledge was associated with greater financial vulnerability. Notably, significant financial knowledge gaps were found in areas such as interest compounding and risk diversification. These findings were instrumental in developing Cyprus's first National Strategy to promote financial literacy and education, endorsed by the Council of Ministers in June 2022. A follow-up survey is currently underway to reassess financial literacy in Cyprus. |
| Keywords: | financial literacy, financial behaviour, financial knowledge, financial fragility |
| JEL: | D14 D31 G1 G53 I22 |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:cyb:wpaper:2024-2 |
| By: | Cheikh, Nidhaleddine Ben (ESSCA School of Management); Rault, Christophe (University of Orléans) |
| Abstract: | While the financial inclusion would induce greater pollutant emissions through its impact of economic activity, the increased access to financial services may unleash investments in green technologies. This papier investigates whether the financial inclusion influences the dynamic of carbon dioxide (CO2) emissions in a sample of 70 countries during the last decade. We implement panel threshold techniques to explore the possible regime shifts in the environmental quality. Our results reveal that an increased financial access impacts air pollution depending on the level of economic development. While financial inclusion would increase CO2 emissions under lower-income regimes, the environment quality seems to be enhanced with more inclusiveness at later stages of development. Sounder environmental policies are needed for less developed countries to align financial inclusion initiatives with sustainable economic development. |
| Keywords: | financial inclusion, carbon emissions, panel threshold modelling |
| JEL: | C23 O16 O44 Q53 Q56 |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17150 |
| By: | Michael S. Barr |
| Date: | 2024–07–09 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgsq:98527 |