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Financial literacy and financial behavior: Do women lag behind?

Author

Listed:
  • Menkhoff, Lukas
  • Grohmann, Antonia
  • Hübler, Olaf
  • Kouwenberg, Roy

Abstract

This research challenges the stylized fact of a gender gap in financial literacy, i.e. the finding that women lag behind men in this respect. Our data which samples middle-class people from Bangkok does not show a gender gap, neither in regards to financial literacy nor regarding various kinds of informed financial decision making. This result is not explained by men s low financial literacy. It may be partially explained by high income of our target group and it seems likely to be influenced by Thailand s cultural background, such as the low degree of masculinity.

Suggested Citation

  • Menkhoff, Lukas & Grohmann, Antonia & Hübler, Olaf & Kouwenberg, Roy, 2014. "Financial literacy and financial behavior: Do women lag behind?," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100415, Verein für Socialpolitik / German Economic Association.
    • Handle: RePEc:zbw:vfsc14:100415
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    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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