EconPapers    
Economics at your fingertips  
 

Racial Differences in the Returns to Financial Literacy Education

Abdullah Al‐Bahrani, Jamie Weathers and Darshak Patel ()
Authors registered in the RePEc Author Service: Abdullah Al-Bahrani

Journal of Consumer Affairs, 2019, vol. 53, issue 2, 572-599

Abstract: We examine financial literacy and the returns to financial literacy education, specifically focusing on the racial financial literacy gap. We confirm evidence that whites have higher financial literacy scores relative to minorities and that financial literacy increases with participation in financial literacy education. However, we find the benefit of participation in financial literacy education is higher for whites than that for minorities. Thus, the impact of being white alone persists, indicating a racial financial literacy and/or behavioral difference despite financial literacy education. Our findings have implications for policymakers interested in narrowing the racial wealth gap via financial literacy education.

Date: 2019
References: Add references at CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

Downloads: (external link)
https://doi.org/10.1111/joca.12205

Related works:
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:bla:jconsa:v:53:y:2019:i:2:p:572-599

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0022-0078

Access Statistics for this article

Journal of Consumer Affairs is currently edited by Sharon Tennyson

More articles in Journal of Consumer Affairs from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().

 
Page updated 2022-06-13
Handle: RePEc:bla:jconsa:v:53:y:2019:i:2:p:572-599