Does financial literacy increase students’ perceived value of schooling?

Pesando, Luca Maria

doi:10.1080/09645292.2018.1468872

Cited by 16 publications

(8 citation statements)

References 82 publications

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“…For instance, Pesando (2018) finds that, on average, higher financial literacy increases students' perceived value of schooling in Italy. Berry et al (2018) also provide suggestive evidence for Ghana.…”

Section: Do Financial Education Programs For Youth Have a Downside?mentioning

confidence: 99%

The Impact of Financial Education for Youth

Frisancho¹

2019

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Any dispute related to the use of the works of the IDB that cannot be settled amicably shall be submitted to arbitration pursuant to the UNCITRAL rules. The use of the IDB's name for any purpose other than for attribution, and the use of IDB's logo shall be subject to a separate written license agreement between the IDB and the user and is not authorized as part of this CC-IGO license.Following a peer review process, and with previous written consent by the Inter-American Development Bank (IDB), a revised version of this work may also be reproduced in any academic journal, including those indexed by the American Economic Association's EconLit, provided that the IDB is credited and that the author(s) receive no income from the publication. Therefore, the restriction to receive income from such publication shall only extend to the publication's author(s). With regard to such restriction, in case of any inconsistency between the Creative Commons IGO 3.0 Attribution-NonCommercial-NoDerivatives license and these statements, the latter shall prevail.Note that link provided above includes additional terms and conditions of the license.The opinions expressed in this publication are those of the authors and do not necessarily reflect the views of the Inter-American Development Bank, its Board of Directors, or the countries they represent.

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Section: Do Financial Education Programs For Youth Have a Downside?mentioning

confidence: 99%

The Impact of Financial Education for Youth

Frisancho¹

2019

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“…Moreover, there is a mutual relationship between financial literacy and education. Pesando (2018) analyzes the Programme for International Student Assessment (PISA) scores of Italy and finds out that students with higher financial literacy levels have a higher understanding of the importance of schooling. Farinella et al (2017) study the relationship between financial literacy levels of high school students, social equality and higher income in which they find a correlation.…”

Section: Introductionmentioning

confidence: 99%

Mediation effect of financial attitude on financial knowledge and financial behavior

Çoşkun

Dalziel²

2020

IJRBS

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In this study, 396 university students in Turkey are surveyed online regarding their attitudes towards financial issues, their level of financial knowledge, and their financial behavior. The latest version of OECD/INFE Financial Literacy Survey (2018) is used in the study. Using SPSS and LISREL. Factor analysis, Cronbach's Alpha, and Structural Equation Modeling (SEM) are used to analyze the relationship between financial knowledge of the participants with their financial attitude and behavior as well as the mediation effect of financial attitude in this relationship. In line with the common wisdom that the relationship between knowledge and behavior is higher if knowledge is better reflected in the attitude of the individual, the mediation effect of financial attitude strengthens the financial knowledge and financial behavior relationship.

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“…The results also show that when treated as an endogenous determinant the "kick" that comes from being financially literate (or more financially literate) is larger than when financial literacy is not instrumented and the relationship is assumed to be exogenous. This larger coefficient on the instrumented variable is not unusual in financial literacy studies where IVs are used (Pesando, 2018). The key finding is that there is a positive relationship between financial literacy and employment, with the likely causal direction running from financial literacy to employment.…”

Section: Main Findingsmentioning

confidence: 67%

Financial Literacy and Self‐Employment

Preston

Wright

2023

J of App Econs and Policy

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This article uses individual‐level data collected in the Household, Income and Labour Dynamics in Australia (HILDA) survey in 2016 to econometrically explore the direction of causation between financial literacy and self‐employment. The empirical approach is based on applying instrumental variables (IV) analysis in a three‐outcome labour supply model (i.e. self‐employment, employee employment and non‐employment) that controls for selection into employment. In keeping with a small number of studies, the analysis suggests that there is a positive relationship between financial literacy and self‐employment. The analysis also suggests that the likely causal direction is from financial literacy to self‐employment. However, this is also found for employee employment. Therefore, policies aimed at increasing financial literacy will likely not only increase self‐employment but also employee employment. This suggests that financial literacy may be a form of “general human capital,” such as education, work experience or training. However, the impact of financial literacy on self‐employment is not larger (more positive) for self‐employment compared to employee employment. Clearly much more research is needed to understand the numerous relationships between financial literacy and other labour market outcomes.

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Does financial literacy increase students’ perceived value of schooling?

Cited by 16 publications

References 82 publications

The Impact of Financial Education for Youth

The Impact of Financial Education for Youth

Mediation effect of financial attitude on financial knowledge and financial behavior

Financial Literacy and Self‐Employment

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