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on Financial Literacy and Education |
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Issue of 2024‒11‒11
six papers chosen by Viviana Di Giovinazzo, Università degli Studi di Milano-Bicocca |
| By: | Axelle Heyert (LaRGE Research Center, Université de Strasbourg); Laurent Weill (LaRGE Research Center, Université de Strasbourg) |
| Abstract: | This paper investigates whether financial inclusion affects life satisfaction. We perform regressions at the individual level on a large dataset of 59, 209 individuals from 29 countries. We find evidence that financial inclusion improves life satisfaction. We further establish that the beneficial effect of financial inclusion takes place through a better health, education and to a lesser extent through the launch of a business. We observe that the positive impact of financial inclusion on life satisfaction is greater in countries with higher income per capita, and lower in countries recently struck by a financial crisis. Our results indicate that promoting financial inclusion can enhance happiness. |
| Keywords: | financial inclusion, life satisfaction, banking. |
| JEL: | G21 I31 O16 P46 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:lar:wpaper:2024-07 |
| By: | Cziriak, Marius; Bucher-Koenen, Tabea; Alessie, Rob |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc24:302421 |
| By: | Simplice A. Asongu (Yaoundé, Cameroon); Amarachi O. Ogbonna (Yaoundé, Cameroon); Mariette C. N. Mete (Yaoundé, Cameroon) |
| Abstract: | The present research extends the extant literature by investigating the hypothesis on whether marriage can be a substitute for financial inclusion in energy poverty reduction in Ghana. Pooled data and two stage least squares techniques are used in the estimation process and the validity of the tested hypothesis (i.e., that marriage is a substitute for financial inclusion in energy poverty mitigation) is based on two main criteria: (i) a positive interactive effect relative to the negative unconditional effect of marriage; (ii) a marriage net effect lower in magnitude compared to the unconditional effect of marriage and (iii) an insignificant interactive effect when both unconditional effects are negative. The investigated hypothesis is not valid in the full sample, urban sub-sample and female sub-sample while it is valid in the rural and male sub-samples. Policy implications are discussed. |
| Keywords: | Energy poverty; financial inclusion; consumption poverty; education; household income |
| JEL: | D03 D12 D14 I32 Q41 |
| Date: | 2024–01 |
| URL: | https://d.repec.org/n?u=RePEc:exs:wpaper:24/031 |
| By: | Christian de Boissieu |
| Abstract: | Faced with the rise of cryptocurrencies, central banks are responding by launching their digital currencies. The purpose of this Policy Brief is to provide an update on the preparation of central bank digital currencies (CBDs) by monetary authorities, a process that concerns all emerging, developing, and more advanced countries. It is also about analyzing the conditions and some of the consequences (for banks, for financial inclusion, for the conduct of monetary policy...) of such a financial innovation, systematically distinguishing between wholesale and retail CBDCs. |
| Date: | 2023–04 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rtrade:pb_19_23 |
| By: | Kaiser, Tim; Hamdan, Jana; Menkhoff, Lukas; Xu, Yuanwei |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc24:302424 |
| By: | Alair MacLean; Piotr Paradowski |
| Abstract: | This paper develops a model of financial success that draws on theories of financial capability, as well as those of cumulative advantage and the racial sedimentation of wealth. It uses data from the Survey of Consumer Finances accessed through the Luxembourg Wealth Study to estimate structural equation models that predict participation in a range of financial outcomes as well the value of the assets. It finds that those who have higher financial literacy, financial confidence, and consult with financial advisors are more likely to hold all types of assets, and have a greater dollar amount saved or invested. Net of these individual characteristics, people with fewer socioeconomic advantages have less financial capability, as well as lower financial success. In addition, there remain direct pathways between race/ethnicity and wealth. |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:lis:lwswps:44 |