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Identifying The Relationship Between Mathematical Pisa Score And Financial Knowledge

Author

Listed:
  • Laura - Filofteia PANOIU

    (“Constantin Brancoveanu” University of Pitesti, Romania)

  • Remus GRIGORESCU

    (“Constantin Brancoveanu” University of Pitesti, Romania)

  • Sorin Daniel MANOLE

    (“Constantin Brancoveanu” University of Pitesti, Romania)

Abstract

Financial education is an essential component in making consumers more accountable, as it helps with the understanding of managing finances, with the purpose of avoiding risks and a possible financial exclusion. This is a key element in rebuilding consumers' confidence in the financial system. In the context of the effects of the financial crisis, European regulators are focusing on higher protection of the consumer regarding financial products and services. Considering that financial education and providing access to basic financial services represent national priorities, it creates a necessity to commence national programs, involving the state, with the purpose of reaching an appropriate understanding of the financial phenomenon. Financial education facilitates maintaining a financial balance, reinforces proper behavior regarding managing income and saving money/investing. The paper at hand shows that the mathematical PISA score impacts the level of financial knowledge.

Suggested Citation

  • Laura - Filofteia PANOIU & Remus GRIGORESCU & Sorin Daniel MANOLE, 2024. "Identifying The Relationship Between Mathematical Pisa Score And Financial Knowledge," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 9(2), pages 126-138.
    • Handle: RePEc:brc:brccej:v:9:y:2024:i:2:p:126-138
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    References listed on IDEAS

    as
    1. Meta Brown & John Grigsby & Wilbert van der Klaauw & Jaya Wen & Basit Zafar, 2016. "Financial Education and the Debt Behavior of the Young," The Review of Financial Studies, Society for Financial Studies, vol. 29(9), pages 2490-2522.
    2. Kenneth De Beckker & Kristof De Witte & Geert Van Campenhout, 2020. "The role of national culture in financial literacy: Cross‐country evidence," Journal of Consumer Affairs, Wiley Blackwell, vol. 54(3), pages 912-930, September.
    3. M. Amari & B. Salhi & A. Jarboui, 2020. "Evaluating the Effects of Sociodemographic Characteristics and Financial Education on Saving Behavior," Post-Print hal-04457115, HAL.
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    Keywords

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    JEL classification:

    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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