EconPapers    
Economics at your fingertips  
 

Gender- and education-related effects of financial literacy and confidence on financial wealth

Christina Bannier and Milena Schwarz

Journal of Economic Psychology, 2018, vol. 67, issue C, 66-86

Abstract: This study examines the influence of actual and perceived financial knowledge (i.e., financial literacy and confidence) on financial wealth. We show that consideration of gender and education as moderators helps to uncover intricate effects. Greater financial literacy leads to higher wealth, with higher education strengthening this effect considerably for women, but not so for men. Men’s wealth also rises in confidence, while there is hardly any confidence effect for women. Our results are robust against the employment of different instrumental variables and confidence measures, consideration of one-time wealth effects and mode of financial decision making.

Keywords: Household finance; Financial literacy; Confidence; Wealth; Gender; Education (search for similar items in EconPapers)
JEL-codes: D91 G11 D83 J26 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S016748701730716X
Full text for ScienceDirect subscribers only

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:eee:joepsy:v:67:y:2018:i:c:p:66-86

Access Statistics for this article

Journal of Economic Psychology is currently edited by G. Antonides and D. Read

More articles in Journal of Economic Psychology from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-08-20
Handle: RePEc:eee:joepsy:v:67:y:2018:i:c:p:66-86