Factors contributing to financial literacy levels among a migrant group

Riccardo Natoli

International Journal of Social Economics, 2018, vol. 45, issue 5, 730-745

Abstract: Purpose - The purpose of this paper is to examine whether differences in the characteristics, financial knowledge and financial attitudes of a migrant group exert significant influence on the likelihood of their financial literacy level. Design/methodology/approach - A multiple discriminant analysis incorporating post-estimation analyses is employed, where the financial literacy level is used to identifya prioriclusters. Findings - The results showed that a significant discriminant function could be estimated to classify the study cohort into three financial literacy groupings. The paper concludes with recommendations for future research to address financial literacy, taking into account differences in characteristics, financial attitudes and financial knowledge of different cohort groups. Research limitations/implications - Although the research targets Vietnamese migrants, no claims can be made regarding the representation of other migrant groups as a whole. The research has implications with respect to programs to improve financial literacy levels of those most at need. This paper provides recommendations for future research in this area. Originality/value - The paper provides one of the few studies of an Australian migrant cohort with respect to financial literacy. The study utilises a multiple discriminant analysis incorporating post-estimation analysis to examine, and compare, the factors that influence a person’s financial literacy level.

Keywords: Migrants; Financial literacy (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

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:eme:ijsepp:ijse-11-2016-0341

DOI: 10.1108/IJSE-11-2016-0341

Access Statistics for this article

International Journal of Social Economics is currently edited by Professor Terence Garrett

More articles in International Journal of Social Economics from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().