Financial Literacy and Individual Financial Behavior: Evidence from Lebanon

Abstract

In the alignment of the research works aiming to associate the financial literacy status to a specific framework and environment, the present paper objects to define the financial literacy character and behavior of individuals living in a small open economy, like Lebanon, where a developed banking sector exists. For this concern, a statistical study is performed looking forward to identify the individual financial literacy character of individuals with regards to personal and socioeconomic features forging their personality. A particular attention is accorded to the financial background, awareness and advice, the financial literacy path through, and the connection of the career success with financial education, individual financial behavior and familiarity with financial institutions and products.