In this article, we investigate the role of local factors associated with the financial literacy of Italian adults (no. 945). Using a multilevel regression model, together with the common socioeconomic and sociodemographic variables already used in previous studies, we also add certain environmental variables at the local level. We separately analyze the three indexes that define the OECD financial literacy index—Financial Attitude Index (FAI), Financial Knowledge Index (FKI), and Financial Behavior Index (FBI)—because they show a dynamic of their own in each region. Our findings confirm that the FKI and the FAI are associated to some extent with environmental traits, while the FBI is not. We conclude that not only the sociodemographic and socioeconomic conditions of individuals but also certain features of the regional context where they live have an impact on their financial literacy. Consequences for financial education programs are highlighted.

Cucinelli, D., Trivellato, P., Zenga, M. (2019). Financial Literacy: The Role of the Local Context. THE JOURNAL OF CONSUMER AFFAIRS, 53(4), 1874-1919 [10.1111/joca.12270].

Financial Literacy: The Role of the Local Context

Cucinelli D.;Trivellato P.;Zenga M.
2019

Abstract

In this article, we investigate the role of local factors associated with the financial literacy of Italian adults (no. 945). Using a multilevel regression model, together with the common socioeconomic and sociodemographic variables already used in previous studies, we also add certain environmental variables at the local level. We separately analyze the three indexes that define the OECD financial literacy index—Financial Attitude Index (FAI), Financial Knowledge Index (FKI), and Financial Behavior Index (FBI)—because they show a dynamic of their own in each region. Our findings confirm that the FKI and the FAI are associated to some extent with environmental traits, while the FBI is not. We conclude that not only the sociodemographic and socioeconomic conditions of individuals but also certain features of the regional context where they live have an impact on their financial literacy. Consequences for financial education programs are highlighted.
Articolo in rivista - Articolo scientifico
financial literacy
English
2-lug-2019
2019
53
4
1874
1919
reserved
Cucinelli, D., Trivellato, P., Zenga, M. (2019). Financial Literacy: The Role of the Local Context. THE JOURNAL OF CONSUMER AFFAIRS, 53(4), 1874-1919 [10.1111/joca.12270].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/240458
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