Why do consumers remain financially illiterate? The empirical test of some less investigated reasons

IF 1.6 Q3 BUSINESS

Journal of Eastern European and Central Asian Research Pub Date : 2019-03-31 DOI:10.15549/JEECAR.V6I1.285

Piotr Oratowski, A. Cwynar, W. Cwynar, R. Dankiewicz, A. Ostrowska-Dankiewicz

引用次数: 7

Abstract

Although financial literacy becomes increasingly important in more and more financialised world, and despite broad-based financial education interventions, consumers still display large shortcomings in the literacy. In this study, using multivariate linear regression and a nationally representative sample of adult Poles (N=1,067), we test some little-studied potential determinants of financial literacy with the purpose to further explain low financial literacy levels. We found that respondents who are more interested in financial domain, have less difficulty in understanding information supplied by means of numbers, and report more learning from own mistakes are at the same time more financially literate, even after controlling for sociodemographic characteristics. Possible implications regarding the role of these factors for financial education are discussed.

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为什么消费者仍然是金融文盲？一些调查较少的原因的实证检验

尽管在越来越金融化的世界里，金融知识变得越来越重要，尽管进行了广泛的金融教育干预，但消费者在知识方面仍然存在很大的缺陷。在这项研究中，我们使用多元线性回归和具有全国代表性的波兰成年样本（N=1067），测试了一些研究较少的金融素养的潜在决定因素，目的是进一步解释金融素养水平低的原因。我们发现，对金融领域更感兴趣、理解数字提供的信息难度较小、从自己的错误中吸取教训较多的受访者，即使在控制了社会人口特征后，也同时更懂金融。讨论了这些因素对金融教育作用的可能影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Eastern European and Central Asian Research Economics, Econometrics and Finance-Economics and Econometrics

CiteScore

2.50

自引率

43.80%

发文量

审稿时长

8 weeks

期刊介绍： Journal of Eastern European and Central Asian Research (JEECAR) is a multi-disciplinary journal related to the Eurasia regional economics, finance, management, marketing, international affairs, and other business-related disciplines. By Eastern Europe and Central Asia, the IEECA refers to Russia, Ukraine, Belarus, Moldova, Armenia, Azerbaijan, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary, Serbia, Montenegro, Bosnia and Herzegovina, Albania, Kosovo, Macedonia, and five post-Soviet Central Asian states: Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The JEECAR Journal is committed to the editorial principles of all aspects of publication ethics and publication malpractice as assigned by the Committee on Public Ethics. Any paper submitted to the journal must be original, previously unpublished, and currently not under consideration for publication elsewhere. All articles in the printed version of the journal are peer-reviewed. The review process is a double-blind process. Neither the authors nor the reviewers know who wrote or reviewed the article. Per standard practice, only the Editor assigned to handle a paper knows the identity of the authors and the reviewers.

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