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Policy-effective Financial Knowledge and Attitude Factors in Latin America

Gabriel Garber () and Sérgio Koyama

Chapter 3 in Financial Decisions of Households and Financial Inclusion: Evidence for Latin America and the Caribbean, 2018, pp 51-94 from Centro de Estudios Monetarios Latinoamericanos, CEMLA

Abstract: In this research we implement a technique that produces measures of financial knowledge and attitudes by combining variables with weights that capture their impact on financial behavior variables, thus providing guidance to policy design. We use data gathered by CAF-Development Bank of Latin America in Bolivia, Colombia, Ecuador, and Peru. It is the first time that this technique has been used in a cross-country setting. We show that the composition and the weight vary from one country to another. However, the importance of attitude variables stands out in all countries, especially regarding the setting of long-term goals by individuals.

Keywords: financial inclusion; financial literacy; financial knowledge; factors; scores. (search for similar items in EconPapers)
JEL-codes: D83 G29 A20 D12 D14 I28 (search for similar items in EconPapers)
Date: 2018
ISBN: 978-607-8582-00-6 (online)
Note: Joint Research Program of the Central Bank Researchers Network
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Working Paper: Policy-effective Financial Knowledge and Attitude Factors in Latin America (2017) Downloads
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