Economic Growth and Sustainability Rooted in Financial Literacy

Bryant, John Hope

doi:10.1007/978-1-4614-4349-0_19

Cited by 9 publications

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“…Financial literacy is important to ensure the sustainable development of individuals and society. According to Bryant, economic growth and sustainability are rooted in the financial literacy of individuals [1]. Rahmandoust show the importance of financial literacy in entrepreneurs' success and then in the sustainable development of society [2].…”

Section: Introductionmentioning

confidence: 99%

Financial Literacy: The Case of Poland

et al. 2020

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Financial literacy is a path to sustainability and has an important role in ensuring the financial sustainability of individuals, families, enterprises and national economies. The level of these economic indicators such as debt, payment discipline, savings and financial management all translate into prosperity or insolvency and bankruptcy and result partially from financial literacy. The higher the level of financial literacy, especially of young people, the more favourable the level of economic indicators, which translates into the economy and sustainable development. With this study we aim to determine the level of financial literacy of high school students in Poland and to determine whether financial literacy changes according to gender. The most important element that distinguishes our study from the others is that or study was carried out with a large sample of high school students with an average age of 15–16 years. In addition, the effect of gender on financial literacy at an early age was investigated, also comparing the wider themes to the so-called narrow themes. The results of the research demonstrated a good and partially very good, level of financial knowledge of the young people in Poland. 45.3% obtained an average level score and 43.8% achieved a high-level score in financial knowledge. This result shows that they can be rational in their financial decision making. However although, it is understood that gender makes a difference on financial behaviour and use of financial instruments, gender does not make any difference on the level of financial knowledge. Moreover, the financial literacy level of males is found to be higher than females.

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Section: Introductionmentioning

confidence: 99%

Financial Literacy: The Case of Poland

et al. 2020

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“…Moreover, financial markets' complexity has been growing, and individuals have access to a wide set of instruments for savings and investing (Lusardi, 2015a). Financial literacy is the cornerstone of individuals' decision-making process and therefore a vital component for sustainable economic growth (Bryant, 2013).…”

Section: Introductionmentioning

confidence: 99%

“…People with higher level of financial literacy are more likely to invest in financial markets and stocks and less likely to become financial scam victims (Van Rooij et al, 2011;Yoong, 2011). Countries with financially literate citizens grow stronger and are wealthier (Bryant, 2013). Overall, financial literacy matters on different horizons.…”

Section: Introductionmentioning

confidence: 99%

First results on financial literacy in Oman

Mirzaei

Buer

2022

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PurposeThis study aims to examine the financial literacy level among the Omani adults and investigate the determinants of financial literacy and its impact on savings and investment behavior.Design/methodology/approachThe data were collected using a survey instrument adopted from Organisation for Economic Co-operation and Development (OECD) survey for financial literacy and composed of 310 individuals' responses. The authors used a multiple regression analysis to determine the impact of the socio-demographics variables on the financial literacy level.FindingsThe findings are three-fold: first, financial literacy score of Omanis is 10.5 out of 21, which is lower than OECD average. Interestingly, the attitude and behavior scores are in line with the OECD average. However, the knowledge score is drastically lower. Second, financial literacy level is found to be affected by age, gender and the monthly income. Third, individuals with a higher level of financial knowledge are more likely to have monthly savings and investment in stock and bond.Research limitations/implicationsThe Gulf countries have started to modernize their economies. Governments that want to design effective economic reforms need to understand the financial skills of their citizens. The study may have implications for policymakers and financial educators in enhancing the financial knowledge programs for individuals.Originality/valueThe analysis reported in this study is unique because it provides the first systematic research on financial literacy in Oman. This paper contributes to the study of financial literacy from the perspective of emerging markets.

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“…These facts are causing pressure and lead to the growing demands to boost the level of financial literacy (Sarnovics et al, 2016). Bryant (2013) explains this as follows: "Financial literacy is essential to living a successful and independent life, promoting economic growth, and sustaining it." Table 1 shows the main drivers for financial literacy in the context of tackling climate changes and global warming.…”

Section: Introductionmentioning

confidence: 99%

Untitled

2022

Terra Econ.

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Журнал зарегистрирован Федеральной службой по надзору в сфере связи и массовых коммуникаций 16 января 2009 г. Свидетельство о регистрации средств массовой информации ПИ № ФС77-34982 Журнал издается с 2003 г., выходит 4 раза в год. Подписной индекс 81958 Журнал включен в перечень ВАК Министерства образования и науки РФ ведущих научных журналов и изданий, в которых должны быть опубликованы основные научные результаты диссертаций на соискание ученой степени доктора экономических наук До 2009 г. -Экономический вестник Ростовского государственного университета Адрес учредителя:

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Economic Growth and Sustainability Rooted in Financial Literacy

Cited by 9 publications

References 0 publications

Financial Literacy: The Case of Poland

Financial Literacy: The Case of Poland

First results on financial literacy in Oman

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