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Financial knowledge and career aspirations among the young: a route to entrepreneurship

Author

Listed:
  • Sara Lamboglia

    (Bank of Italy)

  • Noemi Oggero

    (University of Turin and CERP)

  • Mariacristina Rossi

    (COVIP and University of Turin)

  • Massimiliano Stacchini

    (Bank of Italy)

Abstract

In this study, we explore whether financial literacy plays a role in shaping the career aspirations of young people. Using data collected in 2023 by the Bank of Italy on a representative sample of individuals aged 18-34, we find that financial knowledge increases the intention to become an entrepreneur. Our results are confirmed by using instrumental variable estimations. We also show that financial knowledge helps to reduce indecisiveness regarding future professional choices, making young people more focused on their aspirations.

Suggested Citation

  • Sara Lamboglia & Noemi Oggero & Mariacristina Rossi & Massimiliano Stacchini, 2024. "Financial knowledge and career aspirations among the young: a route to entrepreneurship," Questioni di Economia e Finanza (Occasional Papers) 838, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_838_24
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    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2024-0838/QEF_838_24.pdf
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    More about this item

    Keywords

    financial literacy; entrepreneurial intention;

    JEL classification:

    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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