The study investigates the evolution of financial literacy in Italian adults. Using three surveys from the years 2013, 2017, and 2020, we measure the financial literacy index and its components (financial knowledge, financial attitude, and financial behavior) using the OECD definition. The results show that financial literacy has decreased overall since 2013 in all three components. The gender gap persists, although the distance between the financial knowledge of women and men has shrunk. Moreover, results of the CART analysis show that the importance of the socioeconomic explanatory factors also changes over time; repeated baseline surveys of financial literacy of the adult population are therefore crucial for designing effective financial education programs.

Bongini, P., Cucinelli, D., Zenga, M. (2023). Does Financial Literacy Progress Over Time? An Analysis of Three Surveys in Italy. In P. Wachtel, G. Ferri, E. Miklaszewska (a cura di), Creating Value and Improving Financial Performance (pp. 163-203). Palgrave Macmillan Cham [10.1007/978-3-031-24876-4_7].

Does Financial Literacy Progress Over Time? An Analysis of Three Surveys in Italy

Bongini, Paola
Primo
;
Cucinelli, Doriana
Secondo
;
Zenga, Mariangela
Ultimo
2023

Abstract

The study investigates the evolution of financial literacy in Italian adults. Using three surveys from the years 2013, 2017, and 2020, we measure the financial literacy index and its components (financial knowledge, financial attitude, and financial behavior) using the OECD definition. The results show that financial literacy has decreased overall since 2013 in all three components. The gender gap persists, although the distance between the financial knowledge of women and men has shrunk. Moreover, results of the CART analysis show that the importance of the socioeconomic explanatory factors also changes over time; repeated baseline surveys of financial literacy of the adult population are therefore crucial for designing effective financial education programs.
Capitolo o saggio
Financial literacy, Financial education, Classification and Regression Tree, Pooled cross-sectional analysis
English
Creating Value and Improving Financial Performance
Wachtel, P; Ferri, G; Miklaszewska, E
22-mar-2023
2023
978-3-031-24875-7
Palgrave Macmillan Cham
163
203
Bongini, P., Cucinelli, D., Zenga, M. (2023). Does Financial Literacy Progress Over Time? An Analysis of Three Surveys in Italy. In P. Wachtel, G. Ferri, E. Miklaszewska (a cura di), Creating Value and Improving Financial Performance (pp. 163-203). Palgrave Macmillan Cham [10.1007/978-3-031-24876-4_7].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/410301
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