Transcription of The Economic Importance of Financial Literacy: Theory and ...
{{id}} {{{paragraph}}}
Example: bankruptcy
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.
and empirical body of work on the econom-ics of education,5 far less attention has been devoted to the question of how people acquire and deploy financial literacy. In the last few years, however, a few papers have begun to 4 For an older review of the saving literature see Browning and Lusardi (1996); recent surveys are provided
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: