Digitalization, financial knowledge and financial decisions

Daniela Marconi, Marco Marinucci and Giovanna Paladino

No 741, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: Is the propensity to save and to invest related to digital skills and financial knowledge? Do digital skills and financial knowledge affect people’s attitudes towards digital payments and digital financial services? Is there a gender gap? This paper addresses these issues by using a new dataset based on around 4,000 individuals interviewed in two waves between 2019 and 2021. We find that digital and financial skills are fundamental to shaping financial behaviours and attitudes, including those towards digital financial services. But there are some reservations to be made: digital skills complement financial ones in managing personal budgets, monitoring expenses and saving money at the end of the month, as well as helping people realize the benefits of making use digital financial services. On the other hand, digital skills do not affect investment decisions. We also show that both digital and financial skills are positively associated with educational and income levels and are characterized by a significant gender gap.

Keywords: Financial knowledge; digital skills; financial behavior; digital payments; digitalization; financial inclusion (search for similar items in EconPapers)
JEL-codes: D53 G11 G53 O16 (search for similar items in EconPapers)
Date: 2022-12
New Economics Papers: this item is included in nep-ban, nep-fle, nep-knm and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_741_22

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