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Does financial literacy increase students’ perceived value of schooling?

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  • Luca Maria Pesando

Abstract

Using data from the 2012 Programme for International Student Assessment (PISA) for Italy, this paper investigates whether financial literacy skills play a role in shaping the value that high school students place on schooling. I hypothesize that higher financial literacy may foster students’ awareness of the financial and non-financial benefits of gaining additional education, together with the costs associated with poor school outcomes. Results from OLS and IV estimates suggest that higher financial literacy increases students’ perceived value of schooling by boosting their time commitment to education. Conversely, there is no evidence that financial literacy shapes students’ attitudes towards school.

Suggested Citation

  • Luca Maria Pesando, 2018. "Does financial literacy increase students’ perceived value of schooling?," Education Economics, Taylor & Francis Journals, vol. 26(5), pages 488-515, September.
    • Handle: RePEc:taf:edecon:v:26:y:2018:i:5:p:488-515
    DOI: 10.1080/09645292.2018.1468872
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    Cited by:

    1. Alison Preston & Robert E. Wright, 2023. "Financial Literacy and Self‐Employment," Economic Papers, The Economic Society of Australia, vol. 42(3), pages 236-266, September.
    2. Asmare, Fissha & Giedraitis, Vincentas & Jaraitė, Jūratė & Kažukauskas, Andrius, 2023. "Energy-related financial literacy and retrofits of Soviet-era apartment buildings: The case of Lithuania," Energy Economics, Elsevier, vol. 120(C).
    3. Frisancho, Veronica, 2020. "The impact of financial education for youth," Economics of Education Review, Elsevier, vol. 78(C).
    4. Silvia Mariela Méndez Prado & Marlon José Zambrano Franco & Susana Gabriela Zambrano Zapata & Katherine Malena Chiluiza García & Patricia Everaert & Martin Valcke, 2022. "A Systematic Review of Financial Literacy Research in Latin America and The Caribbean," Sustainability, MDPI, vol. 14(7), pages 1-43, March.
    5. 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.

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