IDEAS home Printed from https://ideas.repec.org/a/mhr/finarc/urnsici0015-2218(201809)733_293tkasta_2.0.tx_2-n.html
   My bibliography  Save this article

The Knowledge and Skills That Are Essential to Make Financial Decisions: First Results From PISA 2012

Author

Listed:
  • Dolores Moreno-Herrero
  • Manuel Salas-Velasco
  • José Sánchez-Campillo

Abstract

Using a multilevel analysis with data from PISA 2012, we find that the differences in financial literacy of 15-year-old students are explained by both individual and school characteristics. This paper finds that the financial education is positively related to students' financial literacy scores when it is taught as a cross-curricular subject and as part of business or economics courses, and to a lesser extent as part of mathematics and as an extracurricular activity. Also, math and reading abilities, and holding a bank account and a prepaid debit card, contribute positively to the development of financial literacy, while financial unfamiliarity contributes negatively.

Suggested Citation

  • Dolores Moreno-Herrero & Manuel Salas-Velasco & José Sánchez-Campillo, 2018. "The Knowledge and Skills That Are Essential to Make Financial Decisions: First Results From PISA 2012," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 74(3), pages 293-339, September.
    • Handle: RePEc:mhr:finarc:urn:sici:0015-2218(201809)73:3_293:tkasta_2.0.tx_2-n
    DOI: 10.1628/fa-2018-0009
    as

    Download full text from publisher

    File URL: https://www.mohrsiebeck.com/en/article/the-knowledge-and-skills-that-are-essential-to-make-financial-decisions-first-results-from-pisa-2012-101628fa-2018-0009
    Download Restriction: Fulltext access is included for subscribers to the printed version.
    File URL: https://libkey.io/10.1628/fa-2018-0009?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Adam Ndou, 2023. "The Impact of Parental Financial Socialisation on Financial Decision-Making of Young Black African Adults in Rural and Low-Income Area in South Africa," International Journal of Economics and Financial Issues, Econjournals, vol. 13(4), pages 84-91, July.
    2. Moreno-Herrero, Dolores & Salas-Velasco, Manuel & Sánchez-Campillo, José, 2018. "Factors that influence the level of financial literacy among young people: The role of parental engagement and students' experiences with money matters," Children and Youth Services Review, Elsevier, vol. 95(C), pages 334-351.

    More about this item

    Keywords

    PISA 2012; financial literacy; multilevel analysis; the teaching of financial education;
    All these keywords.

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mhr:finarc:urn:sici:0015-2218(201809)73:3_293:tkasta_2.0.tx_2-n. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Thomas Wolpert (email available below). General contact details of provider: https://www.mohrsiebeck.com/fa .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.