The Value of Financial Education During Multiple Life Stages

2021 ◽  
pp. JFCP-20-00017
Author(s):  
Philip Gibson ◽  
Janine K. Sam ◽  
Yuanshan Cheng
Keyword(s):  
High School ◽  
Financial Education ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Multiple Channels ◽  
Life Stages ◽  
Short Term ◽  
Long Run ◽  
Financial Outcome

This study examines the timing of financial education and its impact on short-term and long-term financial behavior. We also explore the power of financial education on financial knowledge and examine the link between financial knowledge and positive financial behavior. Exposure to financial education during multiple life stages leads to a better financial outcome. Financial education taught via multiple channels, including high school, college, the workplace, and at home, is the most optimal in the long run. For those who did not attend college, being exposed to financial education in high school is significantly associated with positive financial behavior. We cite implications for all financial education advocates. Policymakers in the financial capability arena can stay abreast of the channels of financial education that produce the most fruitful economic and societal gains.

SaveWise: The design of a financial education program in the Netherlands

2019 ◽  
Vol 18 (2) ◽  
pp. 100-120 ◽  
Author(s):  
Aisa Amagir ◽  
Wim Groot ◽  
Henriëtte Maassen van den Brink ◽  
Arie Wilschut
Keyword(s):  
High School ◽  
High School Students ◽  
The Netherlands ◽  
Education Program ◽  
Self Efficacy ◽  
Financial Education ◽  
Goal Commitment ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
School Students

Using a framework for educational design research, this article reports and evaluates the (process of the) design of a financial education program. The program is designed for high school students in the prevocational track in the Netherlands. The aim of the program is to improve students’ financial knowledge, attitudes, self-efficacy, and (savings) behavior. The main outcome of this study is the identification of design principles that can be used by others for the design of financial education programs: setting a personal savings goal, commitment with and reflection on this goal, discussing money issues with peers and family, hands-on activities with autonomy, and explicit instruction through animated video clips. The results show that our program, called “SaveWise,” improves high school students’ financial knowledge and skills, financial awareness, attitudes towards money, self-efficacy, and financial behavior.

scholarly journals Shades between Black and Green Investment: Balance or Imbalance?

2021 ◽  
Vol 13 (9) ◽  
pp. 5024
Author(s):  
 Vítor Manuel de Sousa Gabriel ◽  
María Mar Miralles-Quirós ◽  
José Luis Miralles-Quirós
Keyword(s):  
Risk Factor ◽  
Oil Prices ◽  
Oil Price ◽  
Short Term ◽  
Environmental Indices ◽  
Long Run ◽  
Green Investment ◽  
Bounds Test

This paper analyses the links established between environmental indices and the oil price adopting a double perspective, long-term and short-term relationships. For that purpose, we employ the Bounds Test and bivariate conditional heteroscedasticity models. In the long run, the pattern of behaviour of environmental indices clearly differed from that of the oil prices, and it was not possible to identify cointegrating vectors. In the short-term, it was possible to conclude that, in contemporaneous terms, the variables studied tended to follow similar paths. When the lag of the oil price variable was considered, the impacts produced on the stock market sectors were partially of a negative nature, which allows us to suppose that this variable plays the role of a risk factor for environmental investment.

ON THE CONSUMPTION/DISTRIBUTION THEOREM UNDER THE LONG-RUN GROWTH CRITERION SUBJECT TO A DRAWDOWN CONSTRAINT

2010 ◽  
Vol 13 (06) ◽  
pp. 931-957 ◽  
Author(s):  
MICHAEL J. KLASS ◽  
KRZYSZTOF NOWICKI
Keyword(s):  
Growth Rate ◽  
Short Term ◽  
Long Run ◽  
Time Period ◽  
Total Capital ◽  
Growth Criterion ◽  
Drawdown Constraint ◽  
Riskless Asset ◽  
Distribution Theorem

Consider any discrete time sequence of investment fortunes Fn which has a finite long-run growth rate [Formula: see text] when subject to the present value capital drawdown constraint Fne-rn ≥ λ* max 0≤k≤nFke-rk, where 0 ≤ λ* < 1, in the presence of a riskless asset affording a return of er dollars per time period per dollar invested. We show that money can be withdrawn for consumption from the invested capital without either reducing the long-run growth rate of such capital or violating the drawdown constraint for our capital sequence, while simultaneously increasing the amount of capital withdrawn for consumption at the identical long-term rate of V(r, λ*). We extend this result to an exponentially increasing number of consumption categories and discuss how additional yearly contributions can temporarily augment the total capital under management. In addition, we assess the short-term practicality of creating such an endowment/consumption/distribution program.

scholarly journals POLLUTION ABATEMENT AS A SOURCE OF STABILIZATION AND LONG-RUN GROWTH

2016 ◽  
Vol 21 (3) ◽  
pp. 644-676 ◽  
Author(s):  
Theodore Palivos ◽  
Dimitrios Varvarigos
Keyword(s):  
Overlapping Generations ◽  
Pollution Abatement ◽  
Short Term ◽  
Overlapping Generations Model ◽  
Environmental Preservation ◽  
Powerful Source ◽  
Long Run ◽  
Stationary Level ◽  
Active Policy

In a two-period overlapping-generations model with production, we consider the damaging impact of environmental degradation on health and consequently life expectancy. Despite the presence of social constant returns to capital, which would otherwise generate unbounded growth, when pollution is left unabated, the economy cannot achieve such a path. Instead, it converges either to a stationary level of capital per worker or to a cycle in which capital per worker oscillates permanently. The government's involvement in environmental preservation proves crucial for both short-term dynamics and long-term prospects of the economy. Particularly, an active policy of pollution abatement emerges as an important engine of long-run economic growth. Furthermore, by eliminating the occurrence of limit cycles, pollution abatement is also a powerful source of stabilization.

scholarly journals Exploring the Road to Agricultural Sustainability by Assessing the EU Debt Influencing Factors

2018 ◽  
Vol 10 (7) ◽  
pp. 2465
Author(s):  
Laura Brad ◽  
Gabriel Popescu ◽  
Alina Zaharia ◽  
Maria Claudia Diaconeasa ◽  
Daniela Mihai
Keyword(s):  
Poverty Reduction ◽  
Fixed Costs ◽  
The European Union ◽  
Labor Costs ◽  
Short Term ◽  
Total Debt ◽  
Long Run ◽  
Periodic Analysis ◽  
The Impact

The importance of agricultural financing in ensuring food security and safety, jobs, poverty reduction, economic growth and more recently, climate change mitigation, natural resource conservation and sustainable development imposes periodic analysis of the factors which might influence the farmers’ financial situation, in order to improve it. One way of assessing this is to analyze the agricultural debt. In this context, based on previous models, the paper aims to assess the impact of specific factors on the agricultural debt level in the European Union during 2008–2015, as these should be considered in future common agriculture policies as well as in achieving sustainable agriculture. The research was conducted based on econometric techniques, by applying panel models in the Eviews 7.0 software-64 bit version. More than 20 variables were considered in the analysis. Some of the findings suggest that an increase in subsidies as well as the share of cash flow in the total existing capital would determine considerable reductions of the total debt. Decoupled subsidies seem to have a higher impact than coupled subsidies on short term debt, while its value is between the one found for coupled subsidies in the case of long term debt. Large farms/companies, to which decoupled payments are granted, have higher debts on long run and on total debt. The same units, to which coupled subsidies were granted, have smaller short-term debt. In contrast, the increases of labor costs, fixed costs, and crop/livestock costs lead to an increase in the total debt, since the farms require additional financial resources to cover the expanded costs. Also, the results suggest that short-term debts are mainly formed of long-term loans that reached maturity. In this case, the authors support the idea of differentiated financing programs for the agricultural activities because of their peculiarities and reinforced by the need to turn the intensive agriculture into a sustainable and plentiful one.

scholarly journals Some Insights Into Financial Literacy Among Undergraduate Students: A Case of Bosnia and Herzegovina

2021 ◽  
Vol 12 (3) ◽  
pp. 103
Author(s):  
Jasmina Okicic ◽  
Meldina Kokorovic Jukan ◽  
Mensur Heric
Keyword(s):  
Undergraduate Students ◽  
Financial Literacy ◽  
Sampling Technique ◽  
Financial Education ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Attitudes ◽  
Significant Difference ◽  
Financial Behaviour ◽  
The Relationship

The purpose of this research is to provide some insights into financial literacy among undergraduate students focusing primarily on the relationship between financial knowledge, financial attitudes and financial behavior and on possible gender and financial education gap in financial literacy. Using the purposive sampling technique, data collection was carried out from April to June 2020, yielding a sample of 1,046 valid responses. To gain a better understanding of the relationship between financial behaviour, financial attitudes and financial knowledge, we, primarily, use exploratory factor analysis and multiple regression model. The research findings have revealed several important issues. First, findings have suggested that financial knowledge, financial attitudes and gender may be considered as an antecedent of the financial behaviour of undergraduate students. Second, findings have also suggested a statistically - significant difference between the financial literacy of undergraduate students concerning their exposure to formal financial education.

scholarly journals Exploring the Livelihoods of Internally Displaced Persons in Kachin State, Myanmar

2021 ◽  
Author(s):  
◽  
Htu Tawng Lazum
Keyword(s):  
Urban Areas ◽  
Partial Solution ◽  
Livelihood Strategies ◽  
Internally Displaced Persons ◽  
Displaced Persons ◽  
Short Term ◽  
Internally Displaced ◽  
Long Run ◽  
Emergency Assistance

<p>The issue of Internally Displaced Persons (IDPs) is a global crisis yet little research has been focused on the issue of the livelihoods of IDPs. Providing short-term emergency assistance is not enough when the period of displacement becomes permanent or longer than expected. IDPs need long-term solutions in order to resume a normal life. Pursuing appropriate livelihoods in urban areas is a big challenge yet constructing potential livelihoods is fundamental to achieving decent living not only for short-term situations but also for the long run. The lack of access to livelihoods is one of the most serious obstacles to durable solutions for IDPs, and long-term livelihood strategies are needed to lay the foundation for future development.  This study explores Kachin IDPs in Myanmar and their livelihood strategies and activities in urban camps by applying qualitative methods, the study focuses on how IDPs have been building their livelihoods during their displacement and who has been involved in supporting their livelihoods. This research also seeks insight into the effectiveness and sustainability of those livelihood activities and other potential strategies.   Results show that most livelihood activities are supported by both local and international humanitarian and development agencies and are mainly undertaken through local organisations. Agriculture and livestock rearing are preferred livelihoods of IDPs although getting appropriate land is challenging in urban areas. Income-generating programmes such as food processing, carpentry and bamboo handicrafts are also popular and successful activities. Moreover, tailoring, brick making, and pig rearing are also effective and helpful livelihoods for individuals. Those who are involved in livelihood support activities receive benefits and advantages for their family and daily needs while the majority of IDPs are working in day labouring. Respondents believe current livelihood activities can become sustainable as long as they maintain the quality of the products. Some IDPs have adapted to the city environment quite well by applying their capacity and the skills they learnt from humanitarian organisations. Supporting livelihood strategies may not resolve the problems of IDPs, however, it is an effective partial solution.</p>

scholarly journals Short-term and long-term international scientific mobility of Italian PhDs: An analysis by gender

2021 ◽  
pp. 35-40
Author(s):  
Valentina Tocchioni ◽  
Alessandra Petrucci ◽  
Alessandra Minello
Keyword(s):  
Multinomial Logistic Regression ◽  
Early Career ◽  
International Mobility ◽  
Short Term ◽  
Host Countries ◽  
Academic Mobility ◽  
Positive Effects ◽  
Long Run ◽  
The Brain

In the last years, there has been a large increase in high-educated and high-skilled people’s mobility as a consequence of the internationalization and globalization, the weakening of research and university systems of sending countries (the “brain drain” process), the increase in skilled demand and improvements in higher education of host countries (the “brain gain” process). At the micro-level, academic mobility has positive consequences on occupational prospects and careers of researchers, both in the short- and long- run. Nevertheless, numerous research studies have demonstrated the challenges of engaging in international academic mobility for people with caring responsibilities, particularly women. Using Italian data on occupational conditions of PhDs collected in 2018 by Istat and modelling multinomial logistic regression analyses, we intend to verify if female researchers are associated with a lower international mobility irrespective their field of study, and the extent to which gender interacts differently in the various fields of study in affecting the probability of moving abroad after PhD qualification. Also, the distinction between long-term and short-term mobility, which has been mainly neglected in the literature concentrating on longer stays, has taken into account. In this respect, short-term mobility is a potentially high-value investment that may be pursued also by those researchers and scientists who cannot move for longer periods, such as women with caring responsibilities. In the literature, it is acknowledged that an experience abroad during early career may have positive effects on future occupational prospects. With our work, we intend to shed light on potential disparities on moving abroad that may exist among researchers in their early career by gender, and which could contribute to leave behind women in academia.

scholarly journals Integration of Indonesian Coffee Markets with World Coffee Markets

2021 ◽  
Vol 2 (1) ◽  
pp. 33
Author(s):  
Haposan Orlando Napitupulu ◽  
Ana Arifatus Sa'diyah ◽  
Farah Mutiara
Keyword(s):  
Time Series Data ◽  
Dynamic Equilibrium ◽  
Secondary Data ◽  
Series Data ◽  
Short Term ◽  
Robusta Coffee ◽  
Long Run ◽  
Relationship Of ◽  
Coffee Markets

This study aims to analyze the integration of the Arabica and Robusta coffee markets in Indonesia with world coffee prices. The study uses secondary data in the form of annual time series data during the period 1985 - 2015. The study uses the VECM analysis method. This method explains the relationship of long-term dynamic equilibrium and short-term equilibrium in a system of equations. The analysis shows that Indonesian and world Arabica coffee is not integrated in the long term or the short term. In Robusta coffee VECM estimation analysis shows that there is a significant value at the 10% level in a long-term relationship with a value of 0.08579, which means that there is a short-term relationship between world Robusta coffee prices and domestic Robusta coffee prices in the previous year, but no relationship in the long run.

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