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The Impact of the First Wave of Covid-19 on the Financial Security of Students in Higher Education in Economics

Botond Kalman (), Judit Barczi () and Zoltan Zeman ()
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Botond Kalman: PhD Student, Doctoral School of Economic and Regional Sciences, Institute of Business Regulation and Information Management, Hungarian University of Agriculture and Life Science
Judit Barczi: PhD habil., Associate Professor, Institute of Economics, Szent István Campus, Hungarian University of Agriculture and Life Sciences
Zoltan Zeman: PhD habil., University Professor, Department of Financial Managment and Controlling, Institute of Business Regulation and Information Management, Szent István Campus, Hungarian University of Agriculture and Life Sciences

Public Finance Quarterly, 2021, vol. 66, issue 3, 359 - 380

Abstract: Our study examines the financial literacy of students in higher education studying economics. Literature shows that financial literacy is becoming more valuable, but this increasingly important knowledge is not matched by practical results. Therefore, the sense of financial security is also reduced, especially if an unexpected major economic crisis occurs. The reasons for this decline have been investigated. Hungarian and foreign students were interviewed in a two-phase offline questionnaire survey. The first wave of COVID-19 took place between the two surveys to model the economic crisis. The questions assessed students' theoretical knowledge, financial behaviour and attitudes towards finance. We also asked how they rate their own financial situation and sense of security. After statistically processing the responses, linear models were set up to identify the factors that play a role in the development of financial security.

Keywords: financial literacy; environmental crisis; economic higher education; financial security (search for similar items in EconPapers)
JEL-codes: A22 D14 G01 G53 (search for similar items in EconPapers)
Date: 2021
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Handle: RePEc:pfq:journl:v:66:y:2021:i:3:p:359-380