Financial knowledge and career aspirations among the young: a route to entrepreneurship

Sara Lamboglia (), Noemi Oggero, Mariacristina Rossi and Massimiliano Stacchini ()
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Sara Lamboglia: Bank of Italy
Noemi Oggero: University of Turin and CERP
Massimiliano Stacchini: Bank of Italy

No 838, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: In this study, we explore whether financial literacy plays a role in shaping the career aspirations of young people. Using data collected in 2023 by the Bank of Italy on a representative sample of individuals aged 18-34, we find that financial knowledge increases the intention to become an entrepreneur. Our results are confirmed by using instrumental variable estimations. We also show that financial knowledge helps to reduce indecisiveness regarding future professional choices, making young people more focused on their aspirations.

Keywords: financial literacy; entrepreneurial intention (search for similar items in EconPapers)
JEL-codes: G53 L26 (search for similar items in EconPapers)
Date: 2024-03
New Economics Papers: this item is included in nep-ban, nep-cfn, nep-ent, nep-fle, nep-mac and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_838_24

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