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Survey of Hungarian high school students’ financial literacy in the last 10 years based on the Econventio test

Peter Kovacs (), Eva Kuruczleki (), Tamas Attila Racz () and Tamas Lilla Liptak ()
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Peter Kovacs: PhD, Associate Professor, Head of Department, Department of Statistics and Demography, Faculty of Economics and Business Administration, University of Szeged
Eva Kuruczleki: Assistant Lecturer, University of Szeged
Tamas Attila Racz: PhD Student, University of Szeged
Tamas Lilla Liptak: Assistant Lecturer, University of Szeged

Public Finance Quarterly, 2021, vol. 66, issue 2, 175 - 194

Abstract: The Econventio Association in cooperation with the Faculty of Economics and Business Administration of the University of Szeged has been developing the financial literacy of igh school students since 2011. In our study, we summarize the main findings of surveys over the past 10 years, based on a total of 110,000 responses. The results show that high school students have low financial literacy levels. Financial knowledge is positively related to long-term oriented thinking, the opinion formed about self-sufficiency and self-care, and the general attitude towards finances. High school students draw their financial knowledge mainly from what they see at home, which influences test scores in a negative way. As age and experience increase, the level of financial knowledge increases too, but the problematic areas remain the same over time, both for high school students and the adult population. Our studies support the need for the objectives of the Hungarian Financial Awareness Strategy. It can also be stated that financial literacy education and development has a positive effect on students’ financial literacy.

Keywords: financial literacy; Econventio test; financial awareness (search for similar items in EconPapers)
JEL-codes: A20 D14 G53 H24 J32 (search for similar items in EconPapers)
Date: 2021
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