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on Financial Literacy and Education |
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Issue of 2025–05–05
five papers chosen by Viviana Di Giovinazzo, Università degli Studi di Milano-Bicocca |
| By: | Yan Shen; Mr. Fei Han; Yanlong Li |
| Abstract: | This paper uses both macro and household-level data to examine the relationship between digital financial inclusion, measured by the Peking University digital financial inclusion index, and income inequality in China. We find that a higher level of digital financial inclusion is associated with significantly lower income inequality within provinces, including through having larger positive effects on lower-income households’ incomes from salaries and public and private transfers. However, we do not find a significant impact of digital financial inclusion on income inequality across provinces, as households in the relatively more developed southern region benefitted more from digital financial inclusion than those in the northern region. We also find that digital financial inclusion has larger effects on the incomes of rural, female-headed, and less educated households, which have likely contributed to the narrowing of the overall income inequality, but a smaller effect on the income of elderly households—pointing to the “digital divide” problem among the elderly in China. |
| Keywords: | Digital financial inclusion; income inequality; micro mechanism |
| Date: | 2025–04–04 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2025/071 |
| By: | Khanullah Mohammady (Osmania University); Sudha Vepa (Osmania University) |
| Abstract: | Aim: Financial inclusion refers to the availability and use of financial services to individuals and businesses at an affordable cost, without discrimination to any group. This study examines gender disparity in the utilization of formal financial services in Afghanistan, a country where financial exclusion remains a critical issue. Design/methodology/approach: This study is quantitative in nature, using data from the Global Findex data (2011-2021) from the World Bank. The study employs a descriptive summary to provide an overview of the data. The Kruskal-Wallis test and Dunn's post-hoc test are then applied to test the hypothesis considered under this study. Additionally, the study presents key barriers to financial inclusion in Afghanistan using Global Findex 2021 data, analyzed descriptively through graphical representation. Research Findings: The findings reveal significant disparities in account ownership, debit card usage, digital payment adoption, and savings, with males consistently demonstrating higher usage across these services. No disparity was observed for borrowings and mobile money, and low usage levels were exhibited for both men and women. Additionally, barriers to financial inclusion in Afghanistan, such as insufficient funds, distance, trust, documentation and cost, limit access to formal financial services. Theoretical Contribution/Originality: Despite the importance of financial inclusion and gender disparity, Afghanistan remains largely understudied. While numerous studies have examined gender gaps in financial access using the Global Findex database across various countries, research specific to Afghanistan is scarce. This study fills this gap by providing empirical evidence of gender disparities and highlights the need for targeted interventions. |
| Keywords: | Gender gap, Financial inclusion (FI), Barriers to financial inclusion, Afghanistan |
| Date: | 2025–03–13 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04990019 |
| By: | Alejandro Herrera (INESAD Associate Researcher); Beatriz Muriel (INESAD Executive Director) |
| Abstract: | This paper examines the social protection challenges faced by quinoa farmers in the southern Altiplano of Bolivia, with a focus on certified quinoa producers. Using a mixedmethods approach and insights from existing literature, the study examines the retirement planning and financial literacy of farmers affiliated with RED-QUINUA, a network of Fairtrade®-certified quinoa producer associations in the region. It highlights critical issues such as low participation in the national pension system, lack of retirement planning, and gaps in financial literacy, with particular attention to their disproportionate impact on women producers. To address these challenges, a pilot program was implemented to improve quinoa farmers' financial literacy and retirement planning. The program provided participants with critical knowledge to formulate their retirement and long-term savings plans. Results from the pilot are encouraging, demonstrating improved financial literacy, increased awareness of retirement planning, and a better understanding of savings options, particularly among women. This study shows that, with appropriate financial and retirement education, quinoa certification premiums could contribute to farmers' long-term financial security and well-being. |
| Keywords: | Quinoa Production, Retirement Savings, Financial Literacy & Education. |
| JEL: | D14 G23 Q12 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:adv:wpaper:202419 |
| By: | Clara Delavallade; Melanie Colette Jacqueline Gittard; Julia Vaillant |
| Abstract: | Sub-Saharan Africa is highly vulnerable to climate change, with rural women dis- proportionately affected due to pre-existing gender inequalities that both increase their need for adaptation and constrain their ability to adopt strategies. This paper reviews empirical evidence on key barriers to women’s climate adaptation, identifies critical knowledge gaps, and outlines a gender-informed policy and research agenda. Focusing on on-farm and off-farm adaptation strategies‒including climate-smart agriculture, weather insurance, income diversification, and migration‒the paper highlights key constraints limiting women’s adaptive capacity: financial limitations, restricted asset control and ownership, gender norms positioning women as primary caregivers and shock absorbers, lower human and social capital, and limited access to climate and technology information. Substantial gaps remain in understanding how women’s financial literacy, institutional trust, risk and climate perception, and social networks affect their adaptation. Evidence-supported interventions include information provision on climate-smart agricultural technologies and social protection, while emerging but less established interventions include socio-emotional skills programs, childcare, and land titling. Underexplored yet promising interventions involve expanding women’s access to digital climate services, strengthening social networks, and engaging men in shifting intra-household roles. Significant knowledge gaps persist regarding the main constraints women face in adopting migration as an adaptation strategy. |
| Date: | 2025–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11095 |
| By: | Jared Gars; Laura Prada; Egon Tripodi; Santiago Borda |
| Abstract: | A large share of the global workforce lacks access to employer-sponsored retirement plans. In Colombia, where labor informality is high, the government introduced the Beneficios Economicos Periodicos (BEPS) program to promote voluntary retirement savings. However, many enrollees fail to contribute regularly. We conduct a randomized controlled trial with 2, 819 BEPS users, assigning them to different planning and monthly reminder treatments, where reminders are tailored in their timing. We find that personalized reminders significantly increase both the frequency and amount of savings, with individuals who recognize their forgetfulness more likely to demand reminders. Our findings highlight the role of reminders tailored to individuals’ preferred timing in sustaining engagement in voluntary savings programs. |
| Keywords: | retirement savings, personalized reminders, limited attention, financial inclusion |
| JEL: | D91 G41 O16 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11738 |