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Access and use of financial markets for basic education expenses

Author

Listed:
  • Kristiano Raccanello

    (El Colegio de Tlaxcala A.C.)

  • Laura Elena Carrillo Cubillas

    (Galilei A.C., Puebla, México)

  • Mariana Guzmán Yerena

    (Deloitte, Ciudad de México)

Abstract

As a result of the financial crisis of 2008, the macroeconomic adjustment has affected Mexican homes through greater unemployment and a drop in purchasing power. Moreover, families had to keep financing education costs, sometimes going into debt in the formal or informal financial market. The hypothesis of this article proposes that the access and use of formal and informal financial products makes it possible to reduce financial problems associated to education expenses at the basic education levels. The probit model is estimated with a sample comprised of four hundred homes in the municipality of San Pedro Cholula (state of Puebla). The results indicate that a worsening in the work conditions and the loss of employment are associated to a greater probability of facing financial difficulties. Likewise, the access to the formal financial market allows reducing the probability of facing these difficulties, whereas for the informal market the results are a function of the characteristics of each financial intermediary.

Suggested Citation

  • Kristiano Raccanello & Laura Elena Carrillo Cubillas & Mariana Guzmán Yerena, 2017. "Access and use of financial markets for basic education expenses," Contaduría y Administración, Accounting and Management, vol. 62(3), pages 861-879, Julio-Sep.
    • Handle: RePEc:nax:conyad:v:62:y:2017:i:3:p:861-879
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Educational financing; Private expense; Financial markets; Mexico;
    All these keywords.

    JEL classification:

    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid

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