Asset Details
Do you wish to reserve the book?
Financial literacy and financial resilience: Evidence from around the world
Hey, we have placed the reservation for you!
By the way, why not check out events that you can attend while you pick your title.
Oops! Something went wrong.
Looks like we were not able to place the reservation. Kindly try again later.
Are you sure you want to remove the book from the shelf?
Financial literacy and financial resilience: Evidence from around the world
Do you wish to request the book?
Financial literacy and financial resilience: Evidence from around the world
Please be aware that the book you have requested cannot be checked out. If you would like to checkout this book, you can reserve another copy
We have requested the book for you!
Your request is successful and it will be processed during the Library working hours. Please check the status of your request in My Requests.
Oops! Something went wrong.
Looks like we were not able to place your request. Kindly try again later.
Journal Article
Financial literacy and financial resilience: Evidence from around the world
2020
Overview
We measure financial literacy using questions assessing basic knowledge of four fundamental concepts In financial decision making: knowledge of interest rates, Interest compounding, inflation, and risk diversification. Worldwide, just one in three adults are financially literate—that is, they know at least three out of the four financial concepts. Women, poor adults, and lower educated respondents are more likely to suffer from gaps in financial knowledge. This is true not only in developing countries but also in countries with welldeveloped financial markets. Relatively low financial literacy levels exacerbate consumer and financial market risks as increasingly complex financial instruments enter the market. Credit products, many of which carry high interest rates and complex terms and conditions, are becoming more readily available. Yet only around half of adults in major emerging countries who use a credit card or borrow from a financial institution are financially literate. W e discuss policies to protect borrowers against risks and encourage account holders to save.
