Matches in SemOpenAlex for { <https://semopenalex.org/work/W55697718> ?p ?o ?g. }
Showing items 1 to 56 of
56
with 100 items per page.
- W55697718 abstract "The current financial crisis has generated interest in better understanding how to promote more responsible and prudent individual saving and borrowing behavior. The ability of consumers to make informed financial decisions is critical to developing sound personal finance, which can contribute to increased saving rates, more efficient allocation of financial resources, and greater financial stability. In this paper we use a unique panel dataset (2008 and 2009) from Russia, an economy where consumer loans grew at an astounding rate – from about US$ 10 billion in 2003 to over US$ 170 billion in 2008. The survey contains financial literacy questions, as well as questions on consumer borrowing (formal and informal), savings, and spending behavior. We use this dataset to study both the financial consequences and the real consequences of lower financial literacy. For instance, even though consumer borrowing is increasing very rapidly in Russia, only 41% of respondents in our sample know about the working of interest compounding and only 46% can answer a simple question about inflation. We find that financial literacy is significantly related to participation in financial markets and negatively related to the use of informal sources of borrowing, using the number of regional newspapers and universities as valid instrumental variables. Individuals with higher financial literacy are also significantly more likely to report greater unspent income and levels of spending. In addition, the relationship between financial literacy and unspent income is stronger during the financial crisis." @default.
- W55697718 created "2016-06-24" @default.
- W55697718 creator A5038881190 @default.
- W55697718 creator A5057673396 @default.
- W55697718 creator A5077167458 @default.
- W55697718 date "2011-01-01" @default.
- W55697718 modified "2023-10-16" @default.
- W55697718 title "Financial Literacy and the Financial Crisis: Evidence from Russia" @default.
- W55697718 cites W4235626352 @default.
- W55697718 doi "https://doi.org/10.2139/ssrn.1786826" @default.
- W55697718 hasPublicationYear "2011" @default.
- W55697718 type Work @default.
- W55697718 sameAs 55697718 @default.
- W55697718 citedByCount "10" @default.
- W55697718 countsByYear W556977182012 @default.
- W55697718 countsByYear W556977182013 @default.
- W55697718 countsByYear W556977182014 @default.
- W55697718 countsByYear W556977182017 @default.
- W55697718 countsByYear W556977182018 @default.
- W55697718 countsByYear W556977182020 @default.
- W55697718 countsByYear W556977182021 @default.
- W55697718 crossrefType "journal-article" @default.
- W55697718 hasAuthorship W55697718A5038881190 @default.
- W55697718 hasAuthorship W55697718A5057673396 @default.
- W55697718 hasAuthorship W55697718A5077167458 @default.
- W55697718 hasConcept C10138342 @default.
- W55697718 hasConcept C139719470 @default.
- W55697718 hasConcept C144133560 @default.
- W55697718 hasConcept C162324750 @default.
- W55697718 hasConcept C2777941463 @default.
- W55697718 hasConcept C2778300220 @default.
- W55697718 hasConcept C73283319 @default.
- W55697718 hasConceptScore W55697718C10138342 @default.
- W55697718 hasConceptScore W55697718C139719470 @default.
- W55697718 hasConceptScore W55697718C144133560 @default.
- W55697718 hasConceptScore W55697718C162324750 @default.
- W55697718 hasConceptScore W55697718C2777941463 @default.
- W55697718 hasConceptScore W55697718C2778300220 @default.
- W55697718 hasConceptScore W55697718C73283319 @default.
- W55697718 hasLocation W556977181 @default.
- W55697718 hasOpenAccess W55697718 @default.
- W55697718 hasPrimaryLocation W556977181 @default.
- W55697718 hasRelatedWork W1195568112 @default.
- W55697718 hasRelatedWork W1998881810 @default.
- W55697718 hasRelatedWork W2559407295 @default.
- W55697718 hasRelatedWork W2588910681 @default.
- W55697718 hasRelatedWork W2596311083 @default.
- W55697718 hasRelatedWork W2949114500 @default.
- W55697718 hasRelatedWork W3010965640 @default.
- W55697718 hasRelatedWork W3099674259 @default.
- W55697718 hasRelatedWork W4376138106 @default.
- W55697718 hasRelatedWork W203721429 @default.
- W55697718 isParatext "false" @default.
- W55697718 isRetracted "false" @default.
- W55697718 magId "55697718" @default.
- W55697718 workType "article" @default.