scholarly journals Financial Literacy, Financial Behavior And Economic System

2019 ◽  
Vol 1 (3) ◽  
pp. 62-76 ◽  
Author(s):  
Salem Bouzidi ◽  
Mohammed Benmoussa
Keyword(s):  
Financial Literacy ◽  
Regional Differences ◽  
Low Cost ◽  
Environmental Issues ◽  
Modern Society ◽  
Jel Classification ◽  
Financial Behavior ◽  
Short Term ◽  
Essential Information ◽  
Equity Ownership

Financial  literacy measure how much one comprehends key money related financial concepts, through appropriate short-term decision making, so Financial literacy is an  essential information and  that individuals need so as to make due in a modern society. Financial literacy can be affected by environmental issues, such as regional differences and economic systems.The relationship between financial literacy and financial behavior has been considered in a number of other studies, financial literacy is an important determinant of financial behavior in developing countries, financial literacy is also associated with increased equity ownership, the use of low-cost mortgages, and retirement planning behavior. JEL Classification: E40, G02, G20.

scholarly journals Peculiarities, factors and trends of financial behavior of youth (on the example of the Republic of Bashkortostan)

2021 ◽  
pp. 31-41
Author(s):  
Gulshat Rashitovna Fatkullina ◽  
Aibulat Galimyanovich Karimov
Keyword(s):  
Financial Literacy ◽  
Social Institutions ◽  
Financial Behavior ◽  
Poor People ◽  
Positive Trend ◽  
Medium Term ◽  
Short Term ◽  
Republic Of Bashkortostan ◽  
The Subject ◽  
The Republic

The object of this research is the youth of the Republic of Bashkortostan. The subject of this research is the financial behavior of youth. Based on the results of online pilot study carried out in the Republic of Bashkortostan via Google Form, the authors analyze the relevant questions pf financial behavior of youth. The survey included the questions that allowed determining the process of formation of financial literacy, degree and level of participation of the key social institutions in teaching the younger generation the fundamentals of financial literacy, as well as financial behavior practices that exist in the families of respondents. Emphasis is placed on the analysis of financial literacy of youth, as it is largely determined by the financial literacy of the population, which includes knowledge, practical skills and skills, and attitudes of citizens in the field of personal finance. The research interest is also focused on the differences in financial behavior of Z generation (zoomers) and Y generation (millennials). The author determines insufficient level of teaching financial literacy at all stages of education, which entails irrational (risky) financial behavior among youth. Half of the respondents can be regarded as poor people; however, they do not seek for solution to change the situation, such as getting themselves a job. As a positive trend, the author notes noted that in a certain way modern youth is concerned about the future and tries to develop the strategies of financial behavior (mostly medium-term and short-term).

scholarly journals Investigating Attitudes towards Financial Literacy in Schools: An Impact Study

2012 ◽  
Vol 3 (7) ◽  
pp. 204-215
Author(s):  
Noi Keng KOH
Keyword(s):  
Financial Literacy ◽  
Modern Society ◽  
Financial Education ◽  
Financial Behavior ◽  
Economic Downturn ◽  
Sustainable Society ◽  
Socially Responsible ◽  
Pedagogical Skills ◽  
Responsible Attitude ◽  
The Impact

The global economic downturn has highlighted the damaging impact of financial illiteracy on individuals, families, communities and entire nations. The need to teach people how to spend, save, invest, borrow and manage money wisely has become more important than ever. It has also raised questions about what it takes to effectively engage people and change their financial behavior. This study is part of a larger study in Singapore schools to study the impact of an initiative to equip teacher’s with pedagogical skills and knowledge to integrate financial literacy messages in day-to-day lessons and foster a socially responsible attitude towards managing money to create a financially sustainable society. This study provides insights into how financial education can be integrated into classroom lessons in schools to deal with challenges that living in modern society presents.

Fintech and responsibility: Buy-now-pay-later arrangements

2021 ◽  
pp. 031289622110324
Author(s):  
Paul Gerrans ◽  
Dirk G Baur ◽  
Shane Lavagna-Slater
Keyword(s):  
Young Adults ◽  
Financial Literacy ◽  
Credit Cards ◽  
Jel Classification ◽  
Short Term ◽  
Responsible Lending

Buy-now-pay-later (BNPL) arrangements have rapidly emerged as a short-term debt option, and like other innovative and disruptive Fintech, challenge existing regulation. BNPL arrangements avoided prescribed ‘responsible lending’ legislative obligations, which applied to similar short-term credit products. Instead, BNPL relies on ‘responsible spending’ in providing a potentially cheaper option than alternatives such as credit cards. We describe the interplay of regulation and responsibility with BNPL. A survey investigates whether a key demographic (young adults) have an appetite or skill for responsible use. We analyse the preference for BNPL relative to credit cards and the role of financial literacy and traits including propensity to plan and save. The findings suggest that financial literacy reduces perceived BNPL benefits and that lower financial literacy is associated with more benefits and less risks. JEL Classification: G53, D14, G51, G41, G18

scholarly journals FACTORS OF IMPACT ON THE INSURANCE BEHAVIOR OF THE UKRAINIAN HOUSEHOLDS

2021 ◽  
Vol 3 (38) ◽  
pp. 368-378
Author(s):  
V. Hnieusheva
Keyword(s):  
Financial Literacy ◽  
Jel Classification ◽  
Financial Behavior ◽  
Market Regulation ◽  
Internal Factors ◽  
Macroeconomic Factors ◽  
Insurance Benefits ◽  
And Gender ◽  
State Pension ◽  
Regulation Model

Abstract. Taking into account the fact that the comprehensive research of the basic elements of the insurance behavior of the households is nearly non-existent, and the insurance behavior of the households is characterized by the poor insurance culture, misunderstanding of the advantages and necessity of the insurance, the establishment of the factors of impact on its formation and identification of those influencing on the insurance behavior most of all among the myriad of factors becomes especially topical. The performed research digest allowed concluding that the interpretation of the insurance behavior essence is limited and does not take into account its saving and consumer-related nature. So, it was proposed to determine the insurance behavior as the variety of the financial behavior of the households oriented to the provision of the financial protection of the households at the expense of the monetary funds formed by means of payment of the insurance premiums and earnings from the investment of the resources of these funds. It was also proposed to divide the factors of impact on the insurance behavior of the households into the external and internal causes in the course of the research conducted. The analysis of the dynamics of the unemployment rate, average salary, minimum official wage and minimum pension was performed for the purpose of establishment of the degree of impact of the macroeconomic factors on the insurance behavior of the households. The level of impact of the demographic factors such as person’s age and gender on his/her insurance behavior was substantiated with the use of the analysis of the dynamics and structure of the membership of non-state pension funds. The data of the conducted research suggest that such factors as the political and social stability, condition of the labour market, income level of the households, warrants of insurance benefits, financial literacy and insurance culture, psychological personality type, acts of God, and pandemics have the greatest impact on the shaping of the insurance behavior of the households. Such factors as the rumor, pieces of advice from relatives or friends, and religion have impact on the insurance behavior to a lesser extent. The reformation of the Ukrainian insurance market regulation model would enable to eliminate the problems holding back shaping of the active insurance behavior of the households. Keywords: insurance behavior of the households, external factors, internal factors, insurance culture, warrants of insurance benefits. JEL Classification G22, D19 Formulas: 0; fig.: 2; tabl.: 2; bibl.: 23.

Financial Literacy and Long- and Short-Term Financial Behavior in Different Age Groups

2016 ◽  
Vol 27 (1) ◽  
pp. 3-19 ◽  
Author(s):  
Robin Henager ◽  
Brenda J. Cude
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Age Groups ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Short Term ◽  
Financial Behaviors ◽  
Management Ability ◽  
Objective Financial Knowledge ◽  
Subjective Financial Knowledge

The purpose of this study was to examine the relationship between financial literacy and financial behaviors among various age groups. Financial literacy was measured in three ways: objective financial knowledge, subjective financial knowledge or confidence, and subjective financial management ability. The age groups were 18–24, 25–34, 35–44, 45–54, 55–64, and 65 and older. Long-term financial behavior referred to retirement saving and investing behavior, whereas short-term financial behavior referred to spending and emergency saving behavior. In the full sample, both objective and subjective financial literacy variables were positively associated with long- and short-term financial behaviors. In the age subsamples, subjective financial knowledge or confidence was more strongly related to long- and short-term financial behavior than either objective financial knowledge or subjective financial management ability in the younger age groups. In the older age groups, objective financial knowledge was more strongly related to long-term financial behavior than either of the other two measures of financial literacy.

Olympic Pandas, Trojan Pandas, and the Science behind Soft Diplomacy

2018 ◽  
Author(s):  
E. Elena Songster
Keyword(s):  
Giant Panda ◽  
Environmental Issues ◽  
Short Term ◽  
Loan Program

After China ceased its practice of giving panda pairs as state gifts, it began a short-term loan program. This evolved into long-term scientific loans. The whole time the concept of panda diplomacy persisted even as it shifted and transformed. Concerns about the giant panda as a species and the environment more generally were undercurrents to all discussions and exchanges. The environment remained present when China made a dramatic and controversial giant panda gift offer to the island of Taiwan. This chapter examines the various ways that panda diplomacy evolved and the increasing integration of environmental issues with panda politics.

Behavioural, Socio-economic Factors, Financial Literacy and Investment Decisions: Are Men More Rational and Women More Emotional?

2021 ◽  
pp. 001946622098702
Author(s):  
Swati Prasad ◽  
Ravi Kiran ◽  
Rakesh Kumar Sharma
Keyword(s):  
Financial Literacy ◽  
Structural Equation ◽  
Investment Decisions ◽  
Jel Classification ◽  
Economic Factors ◽  
Fund Managers ◽  
Multivariate Technique ◽  
Retail Investors ◽  
Behavioural Factors ◽  
Socio Economic Factors

This study covers the gender-wise analysis of how behavioural factors and socio-economic factors along with the level of financial literacy influence investment decisions of Indian retail investors. Equally pertinent is to understand that will it have a different influence and bearing on males and females. Multivariate technique partial least squares-structural equation modelling (PLS-SEM) has been applied to develop the model and analyse the results. The study used a structured questionnaire for collecting data from retail investors. The findings of PLS-SEM show that in both genders, behavioural factors, socio-economic factors and financial literacy factors significantly affect investment decisions. However, the findings demonstrate that for women investors, the model is more effective. This study may be useful for prospective fund managers as, in many earlier studies, women are considered to be risk aversive. The results demonstrate that there is a need to target women, and the scenario today is not similar to the pre-existing ones. JEL Classification: G110, G4

The Position Of The Bank Indonesia As The Lender Of Last Resort After The Enactment Of Law No. 9 Of 2016 On Prevention And Mitigation Of Financial System Crisis

2017 ◽  
Vol 5 (4) ◽  
pp. 08-11
Author(s):  
Theresia Anita Christiani
Keyword(s):  
Data Analysis ◽  
Central Bank ◽  
Financial Services ◽  
Qualitative Data ◽  
Secondary Data ◽  
Jel Classification ◽  
Lender Of Last Resort ◽  
Short Term ◽  
Paper Review

Objective - This paper explores the role of the Indonesian Central Bank as the Lender of the Last Resort. Methodology/Technique - This research uses normative juridical research and secondary data. Findings - The results indicate that the Bank of Indonesian, in coordination with the Financial Services Authority, still has the authority to grant short-term loans for banks with liquidity issues. Nevertheless, the Bank of Indonesia does not have authority to provide emergency finance facilities where the funding is granted at the government's expense. Novelty - This paper uses normative juridical research and qualitative data analysis. Type of Paper - Review. Keywords: Authority, Bank, Crises, Position, Prevention, Indonesia. JEL Classification: K10, K20.

scholarly journals An On-Line Low-Cost Irradiance Monitoring Network with Sub-Second Sampling Adapted to Small-Scale PV Systems

Sensors ◽  
2018 ◽  
Vol 18 (10) ◽  
pp. 3405 ◽  
Author(s):  
Manuel Espinosa-Gavira ◽  
Agustín Agüera-Pérez ◽  
Juan González de la Rosa ◽  
José Palomares-Salas ◽  
José Sierra-Fernández
Keyword(s):  
Sensor Networks ◽  
Low Cost ◽  
Monitoring Network ◽  
Absolute Error ◽  
Small Scale ◽  
Photovoltaic Systems ◽  
Real Time Control ◽  
Short Term ◽  
Time Control ◽  
Cloud Motion

Very short-term solar forecasts are gaining interest for their application on real-time control of photovoltaic systems. These forecasts are intimately related to the cloud motion that produce variations of the irradiance field on scales of seconds and meters, thus particularly impacting in small photovoltaic systems. Very short-term forecast models must be supported by updated information of the local irradiance field, and solar sensor networks are positioning as the more direct way to obtain these data. The development of solar sensor networks adapted to small-scale systems as microgrids is subject to specific requirements: high updating frequency, high density of measurement points and low investment. This paper proposes a wireless sensor network able to provide snapshots of the irradiance field with an updating frequency of 2 Hz. The network comprised 16 motes regularly distributed over an area of 15 m × 15 m (4 motes × 4 motes, minimum intersensor distance of 5 m). The irradiance values were estimated from illuminance measurements acquired by lux-meters in the network motes. The estimated irradiances were validated with measurements of a secondary standard pyranometer obtaining a mean absolute error of 24.4 W/m 2 and a standard deviation of 36.1 W/m 2 . The network was able to capture the cloud motion and the main features of the irradiance field even with the reduced dimensions of the monitoring area. These results and the low-cost of the measurement devices indicate that this concept of solar sensor networks would be appropriate not only for photovoltaic plants in the range of MW, but also for smaller systems such as the ones installed in microgrids.

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