Why do financial literacy programmes fail?

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aut.relation.endpage21
aut.relation.issue1
aut.relation.pages4
aut.relation.startpage18
aut.relation.volume2
aut.researcherFrijns, Bart Pieter Marie
dc.contributor.authorFrijns, BPM
dc.contributor.authorGilbert, A
dc.contributor.authorTourani-Rad, A
dc.date.accessioned2013-10-25T03:21:46Z
dc.date.available2013-10-25T03:21:46Z
dc.date.copyright2013-03-31
dc.date.issued2013-03-31
dc.description.abstractNumerous studies have found a positive relationship between financial literacy and financial experience. Typically, this relationship is interpreted as being a causal relationship, i.e. an increase in financial literacy leads to better financial decision making. However, a simple relationship cannot be interpreted in a causal way. In this paper, we show evidence for a causal relationship running the opposite way, i.e. people with more financial experience seem to acquire more financial knowledge and become more financially literate. This finding has important implications as it suggests that programmes targeted at improving financial literacy could be more effective if they incorporate experiential components.
dc.identifier.citationApplied Finance Letters, vol.2(1), pp.18 - 21 (4)
dc.identifier.urihttps://hdl.handle.net/10292/5776
dc.publisherAuckland Centre for Financial Research, Auckland University of Technology
dc.relation.urihttp://www.aut.ac.nz/__data/assets/pdf_file/0011/371567/Applied-Finance-Letters-V2-Issue-01.pdf
dc.rightsBy publishing in Applied Finance Letters, the author(s) agree to the dissemination of their work through Applied Finance Letters. However, authors are free to use their published work in any way or form in future publications.
dc.rights.accessrightsOpenAccess
dc.subjectFinancial literacy
dc.subjectFinancial experience, Causality
dc.titleWhy do financial literacy programmes fail?
dc.typeJournal Article
pubs.elements-id157395
pubs.organisational-data/AUT
pubs.organisational-data/AUT/Business & Law
pubs.organisational-data/AUT/Business & Law/Finance
pubs.organisational-data/AUT/Business & Law/Finance/Finance PBRF 2012
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