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on Financial Literacy and Education |
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Issue of 2026–03–16
five papers chosen by Viviana Di Giovinazzo, Università degli Studi di Milano-Bicocca |
| By: | Mouzoun Zakarya (ENCG - UIT - ECOLE NATIONALE DE COMMERCE ET DE GESTION - KENITRA); Ammi Anouar (ENCG - UIT - ECOLE NATIONALE DE COMMERCE ET DE GESTION - KENITRA) |
| Abstract: | This article explores the link between financial inclusion and quality of life in Morocco using Multiple Correspondence Analysis (MCA) on a sample of 120 individuals. Financial inclusion is analyzed through its three dimensions: access, use, and perceived quality. Results show that the first factorial dimension, explaining nearly 78% of the variance, is shaped by effective use, service quality, and education/personal development, demonstrating that inclusion depends more on appropriation than on simple access. The second dimension, representing 45% of the variance, underlines the crucial role of trust in financial institutions, where transparency and institutional relationships determine the depth of inclusion. Variables related to poverty and inequality reduction are weakly discriminant, suggesting impacts are mostly macroeconomic and long-term. The study reinforces the multidimensional nature of financial inclusion, highlighting often neglected variables such as trust and financial literacy, while stressing the need for policies focused on quality and financial education to achieve meaningful and sustainable inclusion in Morocco. |
| Abstract: | Cet article explore les liens entre inclusion financière et qualité de vie des individus au Maroc à travers l'Analyse des Correspondances Multiples (ACM) menée sur un échantillon de 120 individus. L'inclusion est étudiée selon trois dimensions principales : accès, utilisation et qualité perçue des services financiers. Les résultats montrent que la première dimension factorielle, expliquant près de 78 % de la variance, est dominée par l'utilisation des services, la perception de leur qualité et l'éducation/développement personnel, confirmant que l'inclusion repose davantage sur l'appropriation des produits que sur le seul accès. La deuxième dimension, représentant 45 % de la variance, souligne le rôle central de la confiance envers les institutions financières, essentielle pour renforcer la transparence et la relation institutionnelle. Sur le plan théorique, cette étude confirme le caractère multidimensionnel de l'inclusion et met en lumière des variables souvent négligées comme la confiance et la littératie financière, tandis que sur le plan empirique, elle insiste sur la nécessité de politiques publiques axées sur la qualité et l'éducation financière pour améliorer durablement la vie des populations. |
| Keywords: | Confiance institutionnelle, Littératie financière Financial inclusion, Quality of life, Multiple Correspondence Analysis (MCA), Morocco, Institutional trust, Financial literacy, Maroc, Analyse des Correspondances Multiples (ACM), Qualité de vie, Inclusion financière |
| Date: | 2025–10–15 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05451263 |
| By: | Andrej Cupák (National Bank of Slovakia); Klára Kizáková (Deloitte Bratislava); Denys Orlov (National Bank of Slovakia) |
| Abstract: | This paper examines gender differences in financial literacy in Slovakia, a country that has been largely under-researched in this area. Using detailed representative micro-data from the 2021 wave of the Household Finance and Consumption Survey (HFCS), we show that – controlling for relevant characteristics – there exists a moderate gender gap in financial literacy. However, the results of the distributional analysis across quantiles of the financial literacy show that gender differences are the most pronounced in the lower part of the distribution. Furthermore, a Blinder-Oaxaca decomposition reveals that in this lower segment, the unexplained component accounts for the majority of the observed financial literacy gender gap. This finding indicates that unobserved factors or mechanisms influencing the acquisition of financial literacy – as opposed to observable differences in characteristics between men and women – are contributing to the observed disparity. Our results could help with the design of more targeted and effective financial education and confidence-building initiatives for vulnerable groups. |
| JEL: | A20 D14 G53 I20 J16 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:svk:wpaper:1127 |
| By: | Nidhaleddine Ben Cheikh (ESSCA School of Management); Christophe Rault (University of Orléans) |
| Abstract: | This paper examines how financial inclusion, among other factors, shapes the transition to inclusive and sustainable growth in a sample of 67 countries. We first analyze the heterogeneous and asymmetric relationship between inclusiveness and its main determinants using recent panel quantile regression techniques. Our results suggest that the distributional effect of financial inclusion, institutional quality and ICT diffusion is statistically significant only in the lower tail of the conditional distribution. While both financial inclusion and ICT are detrimental to inclusive growth, institutional quality appears to be conducive to greater shared prosperity. We next examine the existence of mediating effect in the process of inclusiveness using nonlinear panel threshold modelling. Our results highlight the mediating role of financial inclusion in achieving more inclusive and sustainable growth. While ICT infrastructure has a negative impact on growth inclusiveness at low levels of financial inclusion, a positive relationship is found when financial affordability exceeds a certain threshold. Policymakers are called upon to harness the combined impact of financial inclusion, governance quality and ICTs to ensure the inclusiveness of economic growth. |
| URL: | https://d.repec.org/n?u=RePEc:erg:wpaper:1803 |
| By: | Melecky, Martin; Singer, Dorothe |
| Abstract: | This paper investigates the determinants of saving behavior—both formal and informal—using individual-level data from the 2021 Global Findex database, covering more than 139, 000 adults across 138 countries. The analysis employs a Heckman selection model to distinguish between the decision to save any money and the decision to save formally using a financial account. Key findings reveal that individuals in the poorest 40 percent of households, those with only primary education, and those out of the workforce are significantly less likely to save and even less likely to save formally. While women are equally likely as men to save any money, they are less likely to save formally. Country-level factors also play a critical role. Tax-incentivized savings schemes are associated with an increase in formal saving and an increase in saving overall. Deposit insurance for e-money accounts is positively correlated with both saving any money and saving formally, particularly among low-income individuals. Conversely, a higher share of government-owned bank assets is associated with lower saving rates, and Muslim-majority countries exhibit significantly lower formal saving, likely due to religious constraints on interest-bearing accounts. Policy recommendations include expanding tax-incentivized savings schemes, extending deposit insurance to digital financial services, promoting financial literacy, encouraging wage payments into accounts, reassessing the role of state-owned banks, and, where relevant, supporting Sharia-compliant financial products. Targeted interventions for women and low-income groups are essential to closing persistent gaps in financial inclusion. |
| Date: | 2026–02–24 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11322 |
| By: | Andrej Cupak (National Bank of Slovakia); Judita Jurašeková Kucserová (National Bank of Slovakia); Anna Strachotová (National Bank of Slovakia); Jan Babeckı (National Bank of Slovakia); Denys Orlov (National Bank of Slovakia); Michal MarenÄ ák (National Bank of Slovakia); Vladimír Novák (National Bank of Slovakia) |
| Abstract: | This report presents findings from the 2023 wave of the Household Finance and Consumption Survey (HFCS) in Slovakia. Median household net wealth increased by about 30% in nominal terms between 2021 and 2023. However, these gains were largely offset by inflation, resulting in real net wealth increasing by only 4%. The inflationary period and the cooling of asset markets between the two waves benefited homeowners and pensioners in particular, while renters experienced little to no improvement – and in some cases a decline – in their real wealth. Participation in financial markets continued to expand; however, deposits remain the dominant component of household portfolios. Despite rising wealth, household liquidity did not improve. About a quarter of households remains hand-to-mouth, suggesting that higher net worth does not automatically translate into stronger liquidity buffers. Although household indebtedness continued to grow, key debt burden indicators remained stable. The report also reviews developments in financial literacy, economic expectations, and attitudes toward fairness and redistribution. |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:svk:wpaper:1135 |