|
on Financial Literacy and Education |
|
Issue of 2019‒07‒22
four papers chosen by |
| By: | International Monetary Fund |
| Abstract: | The CBOB considers increased financial inclusion as a critical reform area. In this regard, the FSAP assessed developments in financial inclusion for individuals and enterprises (SME finance), retail payments and provides recommendations for improvements. A review of the market was undertaken using the Payment Aspects of Financial Inclusion (PAFI) framework covering areas such as the legal/regulatory framework and oversight, retail payment systems and instruments, access to transaction accounts and use cases, as well as SME policy, credit infrastructure, economic empowerment funds and consumer protection and financial literacy. |
| Date: | 2019–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:19/201&r=all |
| By: | Bernd Hayo (Philipps-Universitaet Marburg); Kentaro Iwatsubo (Kobe University) |
| Abstract: | We use a 2018 survey of FX margin traders in Japan to investigate which key factors influence their performance: socio-demographic and economic situation, investment strategy and trading behaviour, and/or financial literacy. First, the data show that variables from all three groups are significant predictors of traders’ performance. Second, we find that older traders and those without a specific trading strategy demonstrate lower performance. Performance is higher for those who trade greater amounts, rely more on fundamental analysis, and report having profitable FX trade skills. Third, respondents’ subjectively stated claim of having FX trade skills is based on a more advanced understanding of FX trading and a reliance on professional advice. Neither objective financial knowledge nor over/underconfidence play a noteworthy role in the performance of margin traders. |
| Keywords: | Foreign exchange margin trading, investor survey, foreign exchange trading profits, financial literacy, Japan |
| JEL: | F31 G11 G28 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:mar:magkse:201917&r=all |
| By: | KOLOMA, YAYA |
| Abstract: | Our study on microfinance and poverty reduction in Mali by gender mobilized an econometric method called Heckman's selection model (ETH, 1979) using data collected in 2008 on benefi-ciaries of microfinance programs in Mali. It provides the following results: microcredit con-tributes to poverty reduction among both women and men beneficiaries. But while its effect on poverty is significantly higher among women who have been long-term beneficiaries, overall, men have higher effects. These results broadly converge with those of the propensity score matching (PSM) model, despite some differences. At the global level, the ETH model shows indeed men have higher effects, in contrast to the PSM where women present higher effects. In rural areas, for the ETH model, women have the most significant effects, the model of PSM emphasizes the importance of the effects on male poverty. More generally, the re-sults obtained by the Heckman treatment effect model confirm those already obtained by the PSM, namely due to longer participation in microfinance programs, access to microcredit contributes to reducing poverty among women more than among men. These results suggest that microfinance based on gender policy should be encouraged, but it seems desirable to support it, or even to frame it through other major programs such as education. Therefore, a financial inclusion policy and strategy must consider programs that target both women and men, so that the effects become more significant in terms of poverty reduction. |
| Keywords: | Microfinance, Poverty, Gender, Effect, PSM, ETH, Mali |
| JEL: | G21 I3 J16 |
| Date: | 2019–06–28 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:94745&r=all |
| By: | Lordan, Grace (London School of Economics); McGuire, Alistair (London School of Economics) |
| Abstract: | From 2020 Personal, Social, Health and Economic Education will be compulsory in UK schools for adolescents, however less is known about how it can be taught in a an effective manner. We examine, through a randomised trial, the impact of an evidenced based health related quality of life (HRQoL) curriculum called Healthy Minds that ran in 34 high schools in England over a four-year period. We find robust evidence that Healthy Minds positively augments many physical health domains of treated adolescents. We also find some evidence that Healthy Minds positively affects behaviour, but has no impact on emotional wellbeing. We find notable gender effects, strongly favouring boys. We also present evidence that Healthy Minds changes career aspirations, with those exposed to treatment being less likely to choose competitive work and more likely to choose work that involves "people-skills". Overall our work illustrates the potential for later childhood interventions to promote HRQoL and develop the career aspirations of adolescents. |
| Keywords: | soft skills, health related quality of life, character, high school curriculum, personal, social, health and economic education |
| JEL: | I18 I20 |
| Date: | 2019–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12439&r=all |