Financial Literacy and French Behaviour on the Stock Market

Illettrisme financier et rationalité de l’épargnant sur le marché boursier

Luc Arrondel

PSE-Ecole d'économie de Paris (Postprint) from HAL

Abstract: This article reviews the various aspects of the concept of financial literacy: political, theoretical, methodological and empirical. The debates and issues surrounding economic literacy emerged in the early 2000s. Academic research on household finance then took up the subject by relying on psychological economics. The question of measuring financial literacy then arose: Big Three or otherwise. To answer these questions, we use recent data collected in France (the FLIP survey: Financial LIteracy and Wealth). The behavioural part looks at the stock market puzzle by studying the link between financial literacy and demand for risky assets. The growing recommendation to develop financial education programs in order to overcome weak literacy raises the question of their effectiveness.

Date: 2021-10
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Published in Revue Française d'Economie, 2021, XXXVI (2), pp.39-82. ⟨10.3917/rfe.212.0039⟩

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Related works:
Working Paper: Financial Literacy and French Behaviour on the Stock Market (2021)
Working Paper: Financial literacy and French behaviour on the stock market (2020)
Working Paper: Financial literacy and French behaviour on the stock market (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:pseptp:halshs-03672150

DOI: 10.3917/rfe.212.0039

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