Financial literacy and its relationship with the personal financial decisions: an analysis of gender differences

Sergio Hernández-Mejía, Georgina Manrique-Morteo and Francisco Venegas-Martínez
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Sergio Hernández-Mejía: UCC
Georgina Manrique-Morteo: Colegio Jurista

Chapter 7 in Tópicos Selectos sobre Inclusión y Educación Finnaciera en el Contexto Mexicano, 2019, vol. 1, pp 257-287 from Escuela Superior de Economía, Instituto Politécnico Nacional

Abstract: This article analyzes financial literacy and its relationship with decision-making in personal finance according to gender. The type of study is non-experimental and cross-sectioned, whose purpose is to measure financial literacy by means of three questions on the concepts of interest rate, inflation and risk diversification, proposed by Lusardi and Mitchel (2006). From a descriptive analysis, it is identified that the group of women have the highest scores on the administration of money, spending and credit, savings and investment; regarding financial literacy, the difference between genders is not significant. To verify the hypothesis of knowledge difference by gender, we make use of the z statistic of difference of population proportions.

Date: 2019
ISBN: 978-0-578-58068-5
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Persistent link: https://EconPapers.repec.org/RePEc:ipn:capitu:044

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