Financial Literacy among Rural Women in Darbhanga District:An Empirical Evidence.

2018 ◽  
Vol 5 (1) ◽  
Author(s):  
Prof. F.B. SINGH ◽  
POOJA JHA
Keyword(s):  
Empirical Evidence ◽  
Rural Women ◽  
Financial Literacy ◽  
Rural Population ◽  
Current Status ◽  
Financial Decisions ◽  
The World ◽  
Current Scenario

Financial Literacy is defined as the possession of knowledge and understanding of elementary financial concepts which results in developing the ability to make conversant, poised and effective financial decisions. In current scenario, the concern to increase the level of financial literacy among common masses has been witnessed by many countries of the world through various Financial Literacy center, programme and initiatives but all these programmes and policies are crafted and implemented taking into consideration the male as ultimate receiver and so women who constitute half of the rural population are lagging behind in terms of a making informed financial decisions and financial wellbeing. Hence Strategies should be formulated taking into consideration the women as the main spectators. This paper is an attempt to analyze the current status of the financial literacy among the rural women of the Darbhanga district.

The Economic and Social Value of Financial Literacy

2021 ◽  
pp. 416-436
Author(s):  
José Manuel Sánchez Santos
Keyword(s):  
Social Welfare ◽  
Empirical Evidence ◽  
National Economy ◽  
Financial Literacy ◽  
Social Value ◽  
The Other ◽  
Financial Instability ◽  
Allocation Of Resources ◽  
Financial Decisions ◽  
The One

The main objective of this chapter is to provide new insights into the economic and social value that financial literacy has for individuals and societies. Financial literacy has implications that are relevant both at a micro (especially for households) and macro-level (for the financial system and for the national economy as a whole). On the one hand, a lack of financial literacy put households a risk from making sub-optimal financial decisions and prevent them to maximize their wellbeing. On the other hand, financial literacy favors a better allocation of resources, reduces the risks associated with episodes of financial instability, and therefore, contributes to the increase of social welfare. The analysis and the empirical evidence showing the benefits (costs) of financial literacy (illiteracy) allows to conclude that policymakers have a key role to play implementing initiatives aiming to improve financial literacy of the population at all stages of life.

Trust and Household Portfolios

2021 ◽  
pp. 78-97
Author(s):  
Diego Lubian
Keyword(s):  
Financial Markets ◽  
Empirical Evidence ◽  
Financial Literacy ◽  
Risky Assets ◽  
Financial Decisions ◽  
Portfolio Decisions ◽  
Financial Decision ◽  
Financial Portfolio ◽  
Socio Demographic Factors ◽  
The Relationship

This article provides empirical evidence on the existence and the extent of the influence of trust in financial decisions using individual data on Italian households from the Survey on Household Income and Wealth, 2010. This article studies the relationship between, trust in people, trust in banks and more detailed previously unexplored dimensions of trust, and household financial portfolio decisions. The article provides empirical evidence that trust in people and trust in banks affect both participation in financial markets, the share of risky assets and the diversification of the financial portfolio, controlling socio-demographic factors, risk aversion, and financial literacy as well. The article finds that trust is important for individuals with a lower level of education who have limited possibilities to acquire and process information on financial markets need to rely in trustworthy relationship to define their financial portfolio. Further, we present evidence that the main channel by which trust affects financial decision making and determines too little participation, a lower share of risky assets in the financial wealth and poorly diversified portfolios is trust in family and friends.

scholarly journals Annuity choices and income drawdown: evidence from the decumulation phase of defined contribution pensions in England

2015 ◽  
Vol 14 (4) ◽  
pp. 412-438 ◽  
Author(s):  
JAMES BANKS ◽  
ROWENA CRAWFORD ◽  
GEMMA TETLOW
Keyword(s):  
Older Adults ◽  
Empirical Evidence ◽  
Financial Literacy ◽  
Pension Fund ◽  
Open Market ◽  
Defined Contribution ◽  
Private Provision ◽  
Financial Decisions ◽  
Financial Benefits ◽  
Welfare Implications

AbstractWe provide new empirical evidence on the importance of defined contribution pension wealth in England, and the nature of annuitization decisions taken by older adults who retire with such sources of wealth. Other things equal, financial literacy, and numeracy in particular, are important factors governing individuals’ choices over whether to shop around for an annuity as opposed to taking the ‘path of least resistance’ option and purchasing from their original pension fund provider. This has important policy and welfare implications given that buying an annuity on the open market has significant financial benefits for most people. In the context of the increasing reliance on private provision for retirement, the importance of individuals having the financial literacy to successfully navigate complex financial decisions late in life should not be underestimated.

Trust and Household Portfolios

2020 ◽  
Vol 9 (1) ◽  
pp. 8-26
Author(s):  
Diego Lubian
Keyword(s):  
Financial Markets ◽  
Empirical Evidence ◽  
Financial Literacy ◽  
Risky Assets ◽  
Financial Decisions ◽  
Portfolio Decisions ◽  
Financial Decision ◽  
Financial Portfolio ◽  
Socio Demographic Factors ◽  
The Relationship

This article provides empirical evidence on the existence and the extent of the influence of trust in financial decisions using individual data on Italian households from the Survey on Household Income and Wealth, 2010. This article studies the relationship between, trust in people, trust in banks and more detailed previously unexplored dimensions of trust, and household financial portfolio decisions. The article provides empirical evidence that trust in people and trust in banks affect both participation in financial markets, the share of risky assets and the diversification of the financial portfolio, controlling socio-demographic factors, risk aversion, and financial literacy as well. The article finds that trust is important for individuals with a lower level of education who have limited possibilities to acquire and process information on financial markets need to rely in trustworthy relationship to define their financial portfolio. Further, we present evidence that the main channel by which trust affects financial decision making and determines too little participation, a lower share of risky assets in the financial wealth and poorly diversified portfolios is trust in family and friends.

scholarly journals Financial literacy around the world: an overview

2011 ◽  
Vol 10 (4) ◽  
pp. 497-508 ◽  
Author(s):  
ANNAMARIA LUSARDI ◽  
OLIVIA S. MITCHELL
Keyword(s):  
Instrumental Variables ◽  
Financial Literacy ◽  
International Research ◽  
Retirement Planning ◽  
Middle Aged ◽  
Financial Decisions ◽  
Retirement Security ◽  
The World

AbstractIn an increasingly risky and globalized marketplace, people must be able to make well-informed financial decisions. New international research demonstrates that financial illiteracy is widespread in both well-developed and rapidly changing markets. Women are less financially literate than men, the young and the old are less financially literate than the middle-aged, and more educated people are more financially knowledgeable. Most importantly, the financially literate are more likely to plan for retirement. Instrumental variables estimates show that the effects of financial literacy on retirement planning tend to be underestimated. In sum, around the world, financial literacy is critical to retirement security.

scholarly journals Financial Literacy of Rural Population as a Determinant of Saving Behavior in Kazakhstan

2017 ◽  
Vol 38 (333) ◽  
pp. 32-42
Author(s):  
Sholpan Gaisina ◽  
Lyazzat Kaidarova
Keyword(s):  
Rural Areas ◽  
Financial Literacy ◽  
Rural Population ◽  
Formal Education ◽  
Financial Education ◽  
Rural People ◽  
Economic Determinants ◽  
Financial Decisions ◽  
Financial Products ◽  
Saving Rates

Abstract In rural Kazakhstan, the credit and insurance services are limited and the state support is weak. Therefore, households’ saving is crucial to provide an insurance against the economic and social shocks. The main goal of this study is to contribute to the literature on financial literacy in emerging economies, namely, the effect of financial literacy on saving rates of rural population. Being well educated not always means to be financial literate and make efficient decisions regarding one’s own finance. People with a lower formal education level but with better experience in consuming financial products could be better prepared for making financial decisions including those related to savings. In this paper other socio-economic determinants of saving rates were taken into account, such as an income level, family size and an employment status. This research was carried out in Pavlodar region of Kazakhstan, and the data collection took place in spring 2014. In total, 405 households were surveyed. Results of the analysis show that if a respondent gives at least one correct answer, it positively affects the saving rates as well as one can observe that the higher the financial literacy level, the higher are the saving rates. Availability of state supported financial education programs for rural people will significantly contribute to the financial literacy improvement. At the same time, providing various and appropriate financial products in rural areas will motivate rural people to search for new knowledge and require authorities to intensify activities in this field.

The Economic and Social Value of Financial Literacy

2020 ◽  
pp. 199-226
Author(s):  
José Manuel Sánchez Santos
Keyword(s):  
Social Welfare ◽  
Empirical Evidence ◽  
National Economy ◽  
Financial Literacy ◽  
Social Value ◽  
The Other ◽  
Financial Instability ◽  
Allocation Of Resources ◽  
Financial Decisions ◽  
The One

The main objective of this chapter is to provide new insights into the economic and social value that financial literacy has for individuals and societies. Financial literacy has implications that are relevant both at a micro (especially for households) and macro-level (for the financial system and for the national economy as a whole). On the one hand, a lack of financial literacy put households a risk from making sub-optimal financial decisions and prevent them to maximize their wellbeing. On the other hand, financial literacy favors a better allocation of resources, reduces the risks associated with episodes of financial instability, and therefore, contributes to the increase of social welfare. The analysis and the empirical evidence showing the benefits (costs) of financial literacy (illiteracy) allows to conclude that policymakers have a key role to play implementing initiatives aiming to improve financial literacy of the population at all stages of life.

scholarly journals Current Scenario of COVID-19 Outbreak in India

2021 ◽  
Vol 9 (VI) ◽  
pp. 431-434
Author(s):  
Shailendra Singh
Keyword(s):  
National Level ◽  
Current Status ◽  
Arduous Task ◽  
Essential Services ◽  
The World ◽  
Current Scenario ◽  
Patient Groups ◽  
The Government ◽  
Factor Of Influence ◽  
Main Factor

The irruption of the corona virus in numerous divisions of the world may be a major distress for all the executive units of individual countries. India is also facing the arduous task of fighting the virus outbreak, and some tough measures have been able to control its growth rate. Based on the data sources of India and various government agencies in India (as of May 5-6, 2021), this study introduces the current status of the transmission of the coronavirus in India and the impacts of various measures by the MoHFW of India. This study by the Government Of India has put forward various trends and patterns. According to reports, the vaccination and lockdown program at the national level in the affected areas has controlled the increase in infection cases. It is also confirmed that there are some well-known patient groups and nodes on the patient network. The main factor of influence is COVID-19. Finally, the approach of continuing the lockdown was discussed and proposed. It seems that Indian citizens should only receive essential services and the states and district restrictions should be carried on for the next 3-4 weeks. This research will be useful to various Indian administrative departments and India’s leading medical professionals, and it will also be favorable for the executive units of alternative countries to contemplate varied aspects associated with the management of COVID-19 spread in their individual regions.

PERSPECTIVE DEVELOPMENT OF WORLD PRODUCTION OF FEEDS FOR AQUACULTURE: ALTERNATIVE SOURCES OF RAW MATERIALS

2017 ◽  
pp. 67-78
Author(s):  
Lina Yurievna Lagutkina
Keyword(s):  
Raw Materials ◽  
Limiting Factors ◽  
Current Status ◽  
Feed Production ◽  
The World ◽  
Market Trends ◽  
Alternative Sources ◽  
World Industry ◽  
First Time ◽  
A Current

The author of the article discloses the prospects of development of the world feed production for aquaculture based on the analysis of key innovative technological and market trends. The author specifies that shortage, high cost, low ecological compatibility of traditional raw materials - fish flour - are among major limiting factors in the development of production of feeds for aquaculture. This fact, in turn, limits sustainable development of aquaculture both in Russia, and in the world in general. The article presents the overview of a current status of the world industry of feed production in aquaculture, where the regional situation is studied, as well. For the first time, there is given the outlook of innovative technologies in feed production based on the alternative sources of protein (on the example of projects of leading aquabiotechnological companies) which will determine industry’s objectives for the mid-term perspective.

Factors Affecting Financial Literacy of Vietnamese Adults: A Case Study for Hanoi and Nghe An

2017 ◽  
Vol 33 (2) ◽  
Author(s):  
Tue Nguyen Dang
Keyword(s):  
Higher Education ◽  
Multiple Regression ◽  
Financial Literacy ◽  
Urban Areas ◽  
Logistic Models ◽  
Factors Affecting ◽  
Financial Behaviors ◽  
Financial Decisions ◽  
Literacy Level

This research examines the factors affecting the financial literacy of Vietnamese adults. Using a sample of 266 observations of adults in 2 big cities in Vietnam (Hanoi and Vinh in Nghe An Province), the author evaluates the literacy level of adults in these urban areas. The financial literacy of the interviewed people is low. The multiple regression results show that lower financial literacy levels associate with higher age and married status and higher financial literacy levels associate with higher education, more family members, the person making financial decisions and the person attending a useful financial course. This research also explores the association between financial literacy and financial behaviors of individuals employing logistic models. It is found that higher financial literacy associates with less probability of overspending and higher probability of saving money and careful spending. Higher financial literacy is also found to associate with higher probability of opening a savings account and making various investments. 

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