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How reliable are financial-literacy country rankings?

Author

Listed:
  • Leo Van Hove

    (Vrije Universiteit Brussel (VUB))

  • Muzaffarjon Ahunov

    (Woosong University)

Abstract

Gignac and Ooi (2022) show that financial literacy tests composed of fewer than ten questions suffer from low internal consistency reliability. This note shows that the issue also limits the reliability and relevance of country rankings based on such tests.

Suggested Citation

  • Leo Van Hove & Muzaffarjon Ahunov, 2024. "How reliable are financial-literacy country rankings?," Economics Bulletin, AccessEcon, vol. 44(4), pages 1457-1463.
    • Handle: RePEc:ebl:ecbull:eb-24-00364
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2024/Volume44/EB-24-V44-I4-P115.pdf
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    References listed on IDEAS

    as
    1. Grohmann, Antonia & Klühs, Theres & Menkhoff, Lukas, 2018. "Does financial literacy improve financial inclusion? Cross country evidence," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 111, pages 84-96.
    2. Muzaffarjon Ahunov & Leo Van Hove, 2020. "National culture and financial literacy: international evidence," Applied Economics, Taylor & Francis Journals, vol. 52(21), pages 2261-2279, May.
    3. Gilles E. Gignac & Elizabeth Ooi, 2022. "Measurement error in research on financial literacy: How much error is there and how does it influence effect size estimates?," Journal of Consumer Affairs, Wiley Blackwell, vol. 56(2), pages 938-956, June.
    4. Annamaria Lusardi, 2019. "Financial literacy and the need for financial education: evidence and implications," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 155(1), pages 1-8, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

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    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • D1 - Microeconomics - - Household Behavior

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