The Economic Importance of Financial Literacy: Theory and ...

Journal of Economic Literature 2014, 52(1), 5 44 Introduction Financial markets around the world have become increasingly accessible to the small investor, as new products and finan-cial services grow widespread. At the onset of the recent Financial crisis , consumer credit and mortgage borrowing had burgeoned. People who had credit cards or subprime mortgages were in the historically unusual position of being able to decide how much they wanted to borrow. Alternative Financial * Lusardi: George Washington University.

of the recent financial crisis, consumer credit and mortgage borrowing had burgeoned. ... the impact of financial literacy on economic decision making in the United States and ... effects and consequences of financial illiteracy and what works to remedy these gaps.

Tags:

  Financial, Literacy, Gaps, Crisis, Financial crisis, Financial literacy

Information

Related search queries