Measuring and profiling financial literacy in South Africa
South African Journal of Economic and Management Sciences
| Field | Value | |
| Title | Measuring and profiling financial literacy in South Africa | |
| Creator | Nanziri, Elizabeth L. Leibbrandt, Murray | |
| Description | Background: Microeconomic theories of financial behaviour tend to assume that consumers possess financial skills necessary to undertake related financial decisions. Aim and setting: We investigated this assumption by exploring the distribution of financial literacy among South Africans. Method: In the absence of a standard measure, a financial literacy index was constructed for the country using data collected on attitudes (towards), access to and use of financial services over the period 2005–2009. In a multivariate regression analysis, we used the index to examine the extent to which differences in financial literacy correlate with demographic and economic characteristics. Results: The index revealed substantial variation in financial literacy by age, education, province and race. Overall, demographic characteristics contributed up to 10% of the financial literacy differences among individuals in South Africa. Conclusion: These results can be used to guide policy makers where to place more emphasis in terms of financial education for South Africans. | |
| Publisher | AOSIS Publishing | |
| Date | 2018-05-28 | |
| Identifier | 10.4102/sajems.v21i1.1645 | |
| Source | South African Journal of Economic and Management Sciences; Vol 21, No 1 (2018); 17 pages 2222-3436 1015-8812 | |
| Language | eng | |
| Relation |
The following web links (URLs) may trigger a file download or direct you to an alternative webpage to gain access to a publication file format of the published article:
https://sajems.org/index.php/sajems/article/view/1645/1310
https://sajems.org/index.php/sajems/article/view/1645/1309
https://sajems.org/index.php/sajems/article/view/1645/1311
https://sajems.org/index.php/sajems/article/view/1645/1294
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