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on Financial Literacy and Education |
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Issue of 2022‒01‒10
five papers chosen by |
| By: | Elisa Darriet (Lirsa, CNAM; Lemma, Université Paris II Panthéon-Assas); Marianne Guille (Lemma, Université Paris II Panthéon-Assas and Labex MME-DII); Jean-Christophe Vergnaud (Centre d'Economie de la Sorbonne, CNRS) |
| Abstract: | The aim of this chapter is to investigate the relationship between financial literacy and numeracy. It turns out that numeracy and financial literacy are strongly correlated. In order to clarify this relationship, we review, in a first section, the general definition of numeracy and its most commonly used measures. We then try to enlighten the distinction that can be made between numeracy and financial literacy. In a second section, we focus on the relationship between numeracy and financial literacy using the main empirical studies performed. Since the analyses of their results show that numeracy is a key determinant of financial literacy, we highlight, in a third and final section, the key role that numeracy could have in education programs and consumer protection policies to improve financial decisions |
| Keywords: | Financial literacy; Numeracy |
| JEL: | G4 G5 G53 D14 |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:21031&r= |
| By: | Ozili, Peterson K |
| Abstract: | This article offers a number of policy solutions to improve financial inclusion during the COVID19 crisis. COVID-19 is a global health crisisto which some of the usual global solutionslike greater financial inclusion can help. Financial inclusion remains a powerful development tool to improve access to finance and to support vulnerable individuals and households during the coronavirus or COVID-19 crisis. The documented policy solutions for financial inclusion can help mitigate the effect of the COVID-19 crisis through the combined use of Fintech and short-term policies |
| Keywords: | digital finance, Fintech, financial inclusion, access to finance, regulation, financial services, COVID-19, Coronavirus, SARS-CoV-2, lockdown, social distancing, pandemic, recession, financial crisis, policy. |
| JEL: | G00 G21 I31 I32 I38 I39 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111219&r= |
| By: | Christine Lewis; Ben Westmore |
| Abstract: | Australia’s financial sector entered the COVID-19 crisis in a strong position, enabling it to play a key role in cushioning the pandemic’s impact. Once the national economy reopens, policymakers will turn their focus to securing a robust, sustainable and inclusive recovery. However, low interest rates are boosting house prices and demand for credit in a banking sector that is already highly exposed to housing and highly indebted households. At the same time, many young and innovative firms – which are the drivers of job creation and productivity growth - struggle to access finance. And financial frictions impede the alignment of financial flows with environmental sustainability. Addressing these obstacles, through regulatory change, developing alternatives to bank finance and facilitating technological transformation, would raise productivity and set the recovery on a more sustainable path. Financial inclusion and financial literacy are comparatively high and financial education is entrenched at schools. Further efforts are still needed to address persistent gaps in outcomes for disadvantaged groups, accompanied by stronger consumer protections to ensure that the recovery is inclusive. |
| Keywords: | access to finance, Australian financial system, environmental risk exposure, financial inclusion, household debt |
| JEL: | G20 G21 G24 G28 G33 Q58 |
| Date: | 2021–12–23 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1699-en&r= |
| By: | Tweneboah Senzu, Emmanuel |
| Abstract: | It empirically argued that economic development depends on increasing productivity, mitigating income inequality, reducing dependency on natural resources, improving health outcomes, enhancing environmental quality, and importantly increasing economic growth. Which is complemented by the fact that, all requires a quality financial system, which collects information to facilitate the ex-ante evaluation and ex-post monitoring of investment opportunities to ease information asymmetry as a problem, and facilitates the allocation of resources to innovative projects and further produce complex products. The above postulation derives its core factor of achievement from sustainable financial inclusion, with the paper advancing a conceptual proposition towards an effective, and efficient financial inclusion in fragile economies, and its underlying policy architecture to sustain its performance efficiency, in medium and long term purpose. |
| Keywords: | Financial Inclusions, Financial ecosystem, Policy, Central Bank, Fragile Economy |
| JEL: | E2 E6 G23 G28 H5 |
| Date: | 2021–12–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111002&r= |
| By: | Bianchi, Milo; Bouvard, Matthieu; Gomes, Renato; Rhodes, Andrew; Shreeti, Vatsala |
| Abstract: | We connect various streams of academic literature to shed light on how the degree of interoperability in mobile payments affects market outcomes and welfare. We organize our discussion around four dimensions of interoperability. First, we consider mobile network interoperability (whether clients of one telecom can access another telecom’s payment services) in connection with the IO literature on tying. Second, we discuss platform level interoperability (the ability to send money offnetwork) in light of the literature on compatibility. We also build on the behavioral IO literature to suggest how the effects of interoperability may be very heterogeneous across various types of firms and consumers, or even backfire. Third, we consider interoperability in the cash-in-cash-out agent network, in light of the literature on co-investment in network industries, and of more specific studies on ATMs’ interoperability. Fourth, we discuss how the literature in banking and on data ownership can be used to understand interoperability of data. We conclude with some broader remarks on policy implications and on possible directions for future research. |
| Keywords: | Mobile Payments, Interoperability, Financial Inclusion, Competition; Policy. |
| JEL: | L51 L96 G23 G28 O16 |
| Date: | 2021–12–21 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:126276&r= |