Financial Literacy and Macro-economics

Daniel Beres () and Katalin Huzdik

Public Finance Quarterly, 2012, vol. 57, issue 3, 298-312

Abstract: Financial literacy, moving to the forefront on account of the economic crisis, is a crucial element of the proper function-ing of any society. Our goal is to identify the indicators of financial literacy in topic-related Hungarian and international literature which can then be used to draw macro-economic conclusions and be tested through Hungary’s example. We have identified four main indicators, which are: (1) income, (2) savings, (3) external funds (loans) and (4) the economy’s demand for cash. A number of criticisms can be raised in connection with the above indicators, most importantly the fact that the perception of financial litera-cy is overly linked to income. In spite of this, all these indicators are conducive to providing information on one of the financial lit-eracy-related issues (self-provision, confidence, planning, long-term thinking, profitability, etc.).

Keywords: financial literacy; indicator; macro-economics (search for similar items in EconPapers)
JEL-codes: A13 A14 D03 D12 D14 D31 D81 G11 H24 I22 J11 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:pfq:journl:v:57:y:2012:i:3:p:298-312

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