Simultaneous Use of The Financial Literacy Level and The Financial Inclusion Degree as A Result of Financial Education Efficiencyon Visegrad Group Countries

Frączek, Bożena; Hintošová, Aneta Bobenič; Bačová, Monika; Siviček, Tomáš

doi:10.22367/jem.2017.27.01

Cited by 13 publications

(11 citation statements)

References 9 publications

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“…The presented values for young people living in non--urbanized areas are 15 percentage points lower than the average result calculated for respondents from cities. At the same time, the results obtained for the group of students coincide with the results obtained by other researchers [Chmeliková 2015;Frączek et al 2017]. The lowest proportion of students from rural areas who gave at least 70% of the correct answers, was noted for respondents from Hungary, the best results were achieved by students from the Czech Republic and Poland.…”

Section: Financial Knowledge Behaviour and Attitudes Of Academic Youthsupporting

confidence: 89%

“…The differences are also noticeable in more developed regions such as Europe. The developing countries of Central and Eastern Europe represent definitely a less favourable level of financial literacy in comparison to the most developed countries of Western Europe [Smyczek 2016;Frączek et al 2017]. This is due, among others, to the poorer access of rural residents to educational, financial and ICT infrastructure [Bański 2018].…”

Section: Introductionmentioning

confidence: 99%

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Level of financial literacy of academic youth from rural areas in the Visegrad Group countries

Szafrańska¹

2019

Financial Sciences

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The aim of the study is to determine the level of financial literacy of academic youth from rural areas in the V4 Group countries, as well as to compare the results obtained with the level of financial literacy of young people from cities. The source of data used for analysis and inference were primary information obtained from own research (PAPI method, 900 people). The research used a set of questions to assess the level of financial literacy of adults proposed by the OECD INFE. In addition to primary sources, secondary sources were also used to achieve the goal. The measures of descriptive statistics and one-way analysis of variance (F) were used. The level of financial literacy was determined at the medium level, which may indicate the low effectiveness of financial education measures implemented at different levels of education. The component of financial literacy where students from rural areas had the lowest scores was basic financial knowledge. Only 43% of people from rural areas achieved the minimum target score.

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Section: Financial Knowledge Behaviour and Attitudes Of Academic Youthsupporting

confidence: 89%

Section: Introductionmentioning

confidence: 99%

Level of financial literacy of academic youth from rural areas in the Visegrad Group countries

Szafrańska¹

2019

Financial Sciences

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“…The second part of the model is that FL leads to FI which in turn leads to ED of the poor. There are many studies which have emphasized that FL leads to FI [3,14,32,63]. Furthermore, literature is replete with the evidence that FI leads to ED [12,13,57,62,71,83,84].…”

Section: Theoretical Model and Hypotheses Formulationmentioning

confidence: 99%

Unified Payment Interface (UPI): A Digital Innovation and Its Impact on Financial Inclusion and Economic Development

Rastogi¹,

Panse²,

Sharma³

et al. 2021

ujaf

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UPI (Unified Payment Interface) platform has been used especially in India since 2016. This paper is aimed at exploring how UPI is impacting, financial literacy, financial inclusion and the economic development of the poor in India. Structured equation modelling is applied in the paper to explore the path analysis of the relevant construct to establish the relationship. A structured questionnaire of interval scale was administered to gather the data for the study. It is found that UPI is impacting the financial literacy. In addition to that, it is found that financial literacy is significantly impacting financial inclusion which in turn is significantly causing economic development. Moreover, the significant association of financial literacy to financial inclusion is partially mediated by financial stability and the significant association of financial inclusion to economic development is also partially mediated by trust. The main implication of the study is that UPI is helping people in more than one way. It is not only supporting the financial literacy but also contributing to financial inclusion and economic development of the poor, indirectly. Therefore, policy makers can use the findings of this study to frame policies for UPI more effectively in the future. This study is unique as no other study is observed on the linkage of UPI with financial literacy, financial inclusion and economic development of the poor.

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“…This question inspired us to examine the possibilities of using intellectual and capital resources of the students of economics in the investments on the WSE and alternatives. The choice of the research sample (students of the University of Economics in Katowice) was inspired by the previous research (Frączek, Bobenič Hintošová, Bačová, & Siviček, 2017) 1 where the potential of young and well-educated in finance people was proved. It indicated that 68% of young people (18-25 years old) have savings in formal financial institutions (by comparison: in the group of 15+ years old people, only 21% have some savings in formal financial institutions).…”

Section: Methodsmentioning

confidence: 99%

The preferences in capital allocation among economics students in Poland. Investments on the Warsaw Stock Exchange and forex in comparison to a poker game

Frączek¹,

Dąbrowski²

2019

JEM

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Aim/purpose -The paper examines the level of investment activity among the last semester master's degree students of economics fields, including investment in stocks and in forex (FX) in comparison to a poker game. Design/methodology/approach -The paper presents the exploration of similarities and differences of stock trading, forex trading and poker playing (a critical analysis of the literature), and questionnaire research among 613 students of the last semester of studies at the University of Economics in Katowice. Findings -A decreasing level of a participation of individuals in financial markets refers to different financial segments like capital markets and trading on, e.g. the Warsaw Stock Exchange (WSE) or the foreign exchange market (forex, FX). The current market situation does not constitute favourable conditions to increase commitment of individual investors on the WSE. In addition, other form of investment among young people is being observed, e.g. poker. The results of the research stress the role of an effective financial education and its influence on a changing the attitudes towards investments.Research implications/limitations -The research sample is limited to the students of one university. Originality/value/contribution -So far, there has not been conducted any research among potential important participants of financial markets which takes into account the listed alternatives: investments on the Warsaw Stock Exchange and in forex, or a poker game.

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Simultaneous Use of The Financial Literacy Level and The Financial Inclusion Degree as A Result of Financial Education Efficiencyon Visegrad Group Countries

Cited by 13 publications

References 9 publications

Level of financial literacy of academic youth from rural areas in the Visegrad Group countries

Level of financial literacy of academic youth from rural areas in the Visegrad Group countries

Unified Payment Interface (UPI): A Digital Innovation and Its Impact on Financial Inclusion and Economic Development

The preferences in capital allocation among economics students in Poland. Investments on the Warsaw Stock Exchange and forex in comparison to a poker game

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