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on Financial Literacy and Education |
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Issue of 2023‒07‒24
five papers chosen by |
| By: | Nyanzu, Frederick; Baylis, Kathy |
| Keywords: | International Development, Agricultural and Food Policy, Agricultural Finance |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea22:335719&r=fle |
| By: | Arpita Mukherjee (Indian Council for Research on International Economic Relations (ICRIER)); Eshana Mukherjee (Indian Council for Research on International Economic Relations (ICRIER)); Souvik Dutta (Indraprastha Institute of Information Technology, Delhi); Srishti Pal (Indian Council for Research on International Economic Relations (ICRIER)) |
| Abstract: | The study aims to examine the status of DFI of women in India, with a particular focus on the MSME sector by evaluating their access to financial institutions, usage and adoption of digital financial services, and digital and financial literacy among women; identify the key issues that impede enhancing DFI; and recognise areas within the MSME sector where policies and schemes can be introduced to help India forward the agenda for women’s DFI in the G20. |
| Keywords: | MSME, DFI, PMJDY, PMMY, G20, icrier |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:bdc:report:22-r-08&r=fle |
| By: | Andrej Cupak (National Bank of Slovakia); Judita Jurašeková Kucserová (National Bank of Slovakia); Ján Klacso (National Bank of Slovakia); Anna Strachotová (National Bank of Slovakia) |
| Abstract: | This report presents the main findings from the fourth wave of the Household Finance and Consumption Survey (HFCS) conducted in Slovakia in 2021. The survey provides a structural overview of information about household assets, liabilities, income and consumption, extended by indicators regarding financial literacy, labour market effects of the pandemic, and measures of household expectations. We find that median household net wealth stood at more than €97, 000 in 2021, up from €70, 000 in the previous survey wave in 2017. This rapid appreciation was mainly due to a remarkable increase in real estate prices over the considered period. Household assets remain substantially concentrated towards real estate, which account for nearly 80% of all household assets. Households continue to be conservative also in terms of financial assets, holding mainly risk-free deposits or low-yield savings accounts. Only 6% of households hold investment-based financial assets such as shares, bonds, or mutual funds. Relatively poor inclusion in financial markets is coupled with low levels of financial literacy of the Slovak population; however, we observe a slight improvement since 2014. While the level of household indebtedness increased substantially between 2017 and 2021, there was some moderation in debt burden indicators (such as LTV and DSTI ratios) mainly due to tighter borrowerbased measures. Given the steep rise in value of owner-occupied housing and growth in labour income, both wealth and income inequality declined and hence ensured more equal distribution of economic resources across society. |
| Date: | 2023–05 |
| URL: | http://d.repec.org/n?u=RePEc:svk:wpaper:1095&r=fle |
| By: | Astrid Bertrand (IP Paris - Institut Polytechnique de Paris, DIVA - Design, Interaction, Visualization & Applications - LTCI - Laboratoire Traitement et Communication de l'Information - IMT - Institut Mines-Télécom [Paris] - Télécom Paris); James Eagan (DIVA - Design, Interaction, Visualization & Applications - LTCI - Laboratoire Traitement et Communication de l'Information - IMT - Institut Mines-Télécom [Paris] - Télécom Paris, IP Paris - Institut Polytechnique de Paris, INFRES - Département Informatique et Réseaux - Télécom ParisTech); Winston Maxwell (SES - Département Sciences Economiques et Sociales - Télécom ParisTech, ECOGE - Economie Gestion - I3 SES - Institut interdisciplinaire de l’innovation de Telecom Paris - Télécom ParisTech - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique, IP Paris - Institut Polytechnique de Paris, Télécom ParisTech, I3 SES - Institut interdisciplinaire de l’innovation de Telecom Paris - Télécom ParisTech - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Robo-advisors are democratizing access to life-insurance by enabling fully online underwriting. In Europe, financial legislation requires that the reasons for recommending a life insurance plan be explained according to the characteristics of the client, in order to empower the client to make a "fully informed decision". In this study conducted in France, we seek to understand whether legal requirements for feature-based explanations actually help users in their decision-making. We conduct a qualitative study to characterize the explainability needs formulated by non-expert users and by regulators expert in customer protection. We then run a large-scale quantitative study using Robex, a simplified robo-advisor built using ecological interface design that delivers recommendations with explanations in different hybrid textual and visual formats: either "dialogic"-more textual-or "graphical"-more visual. We find that providing feature-based explanations does not improve appropriate reliance or understanding compared to not providing any explanation. In addition, dialogic explanations increase users' trust in the recommendations of the robo-advisor, sometimes to the users' detriment. This real-world scenario illustrates how XAI can address information asymmetry in complex areas such as finance. This work has implications for other critical, AI-based recommender systems, where the General Data Protection Regulation (GDPR) may require similar provisions for feature-based explanations. CCS CONCEPTS • Human-centered computing → Empirical studies in HCI. |
| Keywords: | explainability intelligibility AI regulation financial inclusion, explainability, intelligibility, AI regulation, financial inclusion |
| Date: | 2023–06–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04125939&r=fle |
| By: | Joshua E. Blumenstock; Michael Callen; Anastasiia Faikina; Stefano Fiorin; Tarek Ghani; Michael J. Callen |
| Abstract: | Building state capacity is uniquely challenging in fragile states. We report results from a randomized evaluation of a major Afghan government initiative to increase capacity by modernizing its payroll. The reform, which required teachers to biometrically register and receive salary payments via mobile money, did little to reduce payments to non-existent “ghost” workers, but significantly reduced delays. The reform also improved educational outcomes and increased formal financial inclusion. The impacts were not immediate – highlighting the importance of long time-horizons – and were largest in urban areas. The results have implications for state-building and are potentially actionable for policymakers. |
| Keywords: | mobile money, state-building, corruption |
| JEL: | D02 D73 C93 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10510&r=fle |