FINANCIAL LITERACY AROUND THE WORLD: AN OVERVIEW.
FINANCIAL LITERACY AROUND THE WORLD: AN OVERVIEW.
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DOI：
10.1017/s1474747211000448
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发表时间：
2011-10
影响因子：
1.2
通讯作者：
Mitchell OS
中科院分区：
文献类型：
--
作者：
Lusardi A;Mitchell OS
在一个风险越来越大、全球化程度越来越高的市场中，人们必须能够做出明智的财务决策。然而，新的国际研究表明，当金融市场发展良好时，如德国、荷兰、瑞典、日本、意大利、新西兰和美国，金融文盲普遍存在，或者当金融市场迅速变化时，如俄罗斯。此外，纵观这些国家，我们发现老年人口认为自己消息灵通，尽管他们的信息实际上低于平均水平。其他常见的模式也很明显：女性的金融知识不如男性，她们意识到了这一不足。受过教育的人更有见识，但教育远不能完美地代表识字能力。还有种族/种族和地区差异：俄罗斯的城市居民比农村居民更了解情况，而在美国，非裔美国人和拉美裔美国人的金融知识相对较少。此外，财务知识越渊博的人，也最有可能为退休做准备。事实上，在德国、美国、日本和瑞典等不同的国家，正确回答一个额外的财务问题会使退休计划的几率增加3-4个百分点；在荷兰，这会将退休计划提高10个百分点。最后，使用工具变量，我们表明，这些估计可能低估了金融知识对退休计划的影响。总而言之，在世界各地，金融知识对退休保障至关重要。
In an increasingly risky and globalized marketplace, people must be able to make well-informed financial decisions. Yet new international research demonstrates that financial illiteracy is widespread when financial markets are well developed as in Germany, the Netherlands, Sweden, Japan, Italy, New Zealand, and the United States, or when they are changing rapidly as in Russia. Further, across these countries, we show that the older population believes itself well informed, even though it is actually less well informed than average. Other common patterns are also evident: women are less financially literate than men and are aware of this shortfall. More educated people are more informed, yet education is far from a perfect proxy for literacy. There are also ethnic/racial and regional differences: city-dwellers in Russia are better informed than their rural counterparts, while in the U.S., African Americans and Hispanics are relatively less financially literate than others. Moreover, the more financially knowledgeable are also those most likely to plan for retirement. In fact, answering one additional financial question correctly is associated with a 3–4 percentage point higher chance of planning for retirement in countries as diverse as Germany, the U.S., Japan, and Sweden; in the Netherlands, it boosts planning by 10 percentage points. Finally, using instrumental variables, we show that these estimates probably underestimate the effects of financial literacy on retirement planning. In sum, around the world, financial literacy is critical to retirement security.