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Why do consumers remain financially illiterate? The empirical test of some less investigated reasons

cris.lastimport.scopus2024-09-17T01:30:53Z
dc.abstract.enAlthough financial literacy becomes increasingly important in more and more financialised world, and despite broad-based financial education interventions, consumers still display large shortcomings in the literacy. In this study, using multivariate linear regression and a nationally representative sample of adult Poles (N=1,067), we test some little-studied potential determinants of financial literacy with the purpose to further explain low financial literacy levels. We found that respondents who are more interested in financial domain, have less difficulty in understanding information supplied by means of numbers, and report more learning from own mistakes are at the same time more financially literate, even after controlling for sociodemographic characteristics. Possible implications regarding the role of these factors for financial education are discussed.
dc.affiliationAdministracji i Nauk Społecznych
dc.contributor.authorPiotr Oratowski
dc.contributor.authorAndrzej Cwynar
dc.contributor.authorWiktor Cwynar
dc.contributor.authorRobert Dankiewicz
dc.contributor.authorAnna Ostrowska-Dankiewicz
dc.date.accessioned2024-07-09T11:24:37Z
dc.date.available2024-07-09T11:24:37Z
dc.date.issued2019
dc.identifier.doi10.15549/jeecar.v6i1.285
dc.identifier.issn2328-8280
dc.identifier.issn2328-8272
dc.identifier.urihttps://repo.akademiawsei.eu/handle/item/430
dc.languageen
dc.pbn.affiliationeconomics and finance
dc.relation.ispartofJournal of Eastern European and Central Asian Research (JEECAR)
dc.rightsCC-BY
dc.subject.enFinancial literacy
dc.subject.enFinancial education
dc.subject.enNumeracy
dc.titleWhy do consumers remain financially illiterate? The empirical test of some less investigated reasons
dc.typeReviewArticle
dspace.entity.typePublication
oaire.citation.issue1
oaire.citation.volume6