IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Financial Literacy and Risk-Taking of Households in the Hungarian Central Great Plain

  • Katalin Botos

    ()

    (Pázmány Péter Catholic University)

  • József Botos

    (former Director General of the Central Administration of National Insurance)

  • Dániel Béres

    (State Audit Office of Hungary)

  • József Csernák

    (Károly Róbert College)

  • Erzsébet Németh

    (State Audit Office of Hungary)

The intense innovational activity typical of the financial sector in the last 30 years requires households to have increasingly comprehensive and complex financial knowledge. The main objective of our study, therefore, was to assess and evaluate risk management activity, which is an integral part of financial literacy, using the questionnaire survey focusing on households of the Central Great Plain and conducted by the Kossuth College of Lakitelek as basis. We have determined that the households examined are conservative with respect to their finances and strive to minimise risks as much as possible, which is commendable. Unfortunately, however, they lack the financial knowledge to make prudent decisions. In truth, risk management strategy based on inadequate knowledge, but thought to be sound is nothing more than a substitution of risk types, the significance of which households are unable to assess realistically as they lack necessary financial knowledge.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.asz.hu/public-finance-quarterly-articles/2012/financial-literacy-and-risk-taking-of-households-in-the-hungarian-central-great-plain/a-267-285-botos-es-tsai.pdf
Download Restriction: no

Article provided by State Audit Office of Hungary in its journal Public Finance Quarterly.

Volume (Year): 57 (2012)
Issue (Month): 3 ()
Pages: 267-285

as
in new window

Handle: RePEc:pfq:journl:v:57:y:2012:i:3:p:267-285
Contact details of provider: Web page: http://www.asz.hu

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Diana J. Beal & Sarath B. Delpachitra, 2003. "Financial Literacy Among Australian University Students," Economic Papers, The Economic Society of Australia, vol. 22(1), pages 65-78, 03.
  2. Angela A. Hung & Andrew M. Parker & Joanne K. Yoong, 2009. "Defining and Measuring Financial Literacy," Working Papers 708, RAND Corporation Publications Department.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:pfq:journl:v:57:y:2012:i:3:p:267-285. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Pál Péter Kolozsi)

The email address of this maintainer does not seem to be valid anymore. Please ask Pál Péter Kolozsi to update the entry or send us the correct address

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.