Financial Literacy, Financial Education, and Economic Outcomes
Justine Hastings,
Brigitte Madrian and
William Skimmyhorn
Annual Review of Economics, 2013, vol. 5, issue 1, 347-373
Abstract:
In this article, we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the extent to which a competitive market provides incentives for firms to educate consumers or to offer products that facilitate informed choice. We review the literature on alternative policies to improve financial outcomes and compare the evidence with that on the efficacy and cost of financial education. Finally, we discuss directions for future research.
Keywords: personal finance; household finance (search for similar items in EconPapers)
JEL-codes: C93 D14 D18 D91 G11 G28 (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations: View citations in EconPapers (249)
Downloads: (external link)
http://www.annualreviews.org/doi/abs/10.1146/annurev-economics-082312-125807 (application/pdf)
Full text downloads are only available to subscribers. Visit the abstract page for more information.
Related works:
Working Paper: Financial Literacy, Financial Education and Economic Outcomes (2012) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:anr:reveco:v:5:y:2013:p:347-373
Ordering information: This journal article can be ordered from
http://www.annualreviews.org/action/ecommerce
Access Statistics for this article
More articles in Annual Review of Economics from Annual Reviews Annual Reviews 4139 El Camino Way Palo Alto, CA 94306, USA.
Bibliographic data for series maintained by http://www.annualreviews.org ().