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on Financial Literacy and Education |
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Issue of 2022‒10‒03
five papers chosen by |
| By: | Tabea Bucher-Koenen; Rob Alessie; Annamaria Lusardi; Maarten van Rooij |
| Abstract: | Women are less financially literate than men. It is unclear whether this gap reflects a lack of knowledge or, rather, a lack of confidence. Our survey experiment shows that women tend to disproportionately respond “do not know†to questions measuring financial knowledge, but when this response option is unavailable, they often choose the correct answer. We estimate a latent class model and predict the probability that respondents truly know the correct answers. We find that about one-third of the financial literacy gender gap can be explained by women’s lower confidence levels. Both financial knowledge and confidence explain stock market participation. |
| Keywords: | financial knowledgel gender gapl financial decision making; confidence; measurement error; latent class model; finite mixture model |
| JEL: | G53 C81 D91 |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:dnb:dnbwpp:708&r= |
| By: | International Policy Centre for Inclusive Growth (IPC-IG); World Food Programme (WFP) Mozambique (IPC-IG) |
| Keywords: | digitalisation; financial inclusion; social resilience |
| Date: | 2022–08 |
| URL: | http://d.repec.org/n?u=RePEc:ipc:opager:515&r= |
| By: | Luzzi, Mariana |
| Abstract: | La pandemia de enfermedad por coronavirus (COVID-19) tuvo un fuerte impacto en las condiciones de vida de los hogares, resultado de la combinación de una marcada caída de la actividad y los ingresos y la intensificación de los cuidados. En el interés de analizar la articulación entre estos dos fenómenos y sus efectos en términos de las desigualdades de género, este estudio explora el papel desempeñado por las mujeres en la gestión monetaria del cuidado. En particular, se interesa por las interacciones entre los hogares —y en particular las mujeres— y las organizaciones que les proveen servicios financieros y no financieros, que durante la emergencia se convirtieron en sus acreedoras. |
| Keywords: | HOGARES, CONDICIONES ECONOMICAS, DEUDA DOMESTICA, MUJERES, INCLUSION FINANCIERA, CUIDADORES, INSTITUCIONES FINANCIERAS, COVID-19, VIRUS, EPIDEMIAS, IGUALDAD DE GENERO, HOUSEHOLDS, ECONOMIC CONDITIONS, HOUSEHOLD DEBT, WOMEN, FINANCIAL INCLUSION, CAREGIVERS, FINANCIAL INSTITUTIONS, COVID-19, VIRUSES, EPIDEMICS, GENDER EQUALITY |
| Date: | 2022–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:47905&r= |
| By: | Carin van der Cruijsen; Maurice Doll; Jakob de Haan |
| Abstract: | Abstract: Using a survey among more than 2,000 consumers in the Netherlands, we examine the drivers of trust in the financial sector supervisor. Trust in De Nederlandsche Bank (DNB) declined sharply during the financial crisis and has not yet completely recovered. Our results suggest that consumers’ knowledge about supervision is positively associated with their trust in the supervisor. Assessing the fitness and propriety of top managers of financial institutions and supervising financial institutions enlarge trust in DNB. The same holds for the execution of the deposit guarantee system. Finally, we find that communicating about supervisory activities also increases trust. |
| Keywords: | Trust; financial sector supervisor; financial literacy; communication |
| JEL: | D12 D84 E58 G21 |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:dnb:dnbwpp:750&r= |
| By: | Ozili, Peterson K |
| Abstract: | Decentralized finance is financial services offered on a public blockchain over the internet. This paper reviews the decentralized finance (DeFi) research and development around the world. The findings of the literature review are that decentralized finance offers many benefits such as broadening financial inclusion; encouraging permission-less innovation; eliminating the need for intermediaries; ensuring the immutability of transactions; censorship resistance and making cross-border transactions cheaper. The associated risks include execution risk in smart contracts, legal liability risk, data theft risk, interconnectedness risk, external data risk, and greater propensity for illicit activity using DeFi applications. The review of existing DeFi research show that there are few studies on DeFi, and a large number of DeFi research studies are non-empirical studies. Most studies hold a positive view about DeFi. They emphasize the benefits of DeFi in great depth but the challenges of DeFi were not analysed in great depth, and there are no critical studies on DeFi. Observations on DeFi developments from around the world show that there is growing interest in decentralized finance in Europe, U.S., Asia and Oceania. There are concerns that regulating decentralized finance can impede growth in decentralized finance markets in Asia. There are also concerns that banning crypto assets can hinder the growth of decentralized finance in African countries where regulators do not fully permit blockchain-enabled cryptocurrencies. Several policy issues associated with DeFi are discussed. Areas for further research are provided to advance the literature on decentralized finance. |
| Keywords: | decentralized finance, DeFi, blockchain, ethereum, cryptocurrency, distributed ledger technology, protocol, token, total valued locked, smart contract, digital currency, literature review. |
| JEL: | G21 G24 G28 O31 O38 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:114338&r= |