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Financial Capability:New Evidence for Ireland

Author

Listed:
  • Keeney, Mary J.

    (Central Bank and Financial Services Authority of Ireland)

  • O’Donnell, Nuala

    (Central Bank and Financial Services Authority of Ireland)

Abstract

Recent increases in financial innovation, particularly in the Anglo-Saxon banking culture, have seen a considerable growth in the amount of financial products available to the general public. Simultaneously, many workers are increasingly assuming responsibility for planning for their future pensions. This allied to increased life expectancy necessitates a greater degree of financial capability amongst the general public. This study has empirically examined this issue for the first time in an Irish context. As such, this report follows a nascent literature internationally. The related issue of financial literacy has been studied for several years in the US while a major study of financial capability was completed in the UK in 2006. This report follows that UK study closely. This is the first major evidence on financial capability inIreland, conducted with a purpose-designed, in-depth, representative survey of just over 1,500 people.

Suggested Citation

  • Keeney, Mary J. & O’Donnell, Nuala, 2009. "Financial Capability:New Evidence for Ireland," Research Technical Papers 1/RT/09, Central Bank of Ireland.
  • Handle: RePEc:cbi:wpaper:1/rt/09
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    File URL: https://centralbank.ie/docs/default-source/publications/research-technical-papers/1rt09---financial-capability-new-evidence-for-ireland-(keeney-and-o'donnell).pdf?sfvrsn=4
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    Cited by:

    1. Estaban Gómez González & Nancy Zamudio Gómez, 2012. "Las capacidades financieras de la población colombiana," Borradores de Economia 725, Banco de la Republica de Colombia.
    2. Jing Xiao & Cheng Chen & Fuzhong Chen, 2014. "Consumer Financial Capability and Financial Satisfaction," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 118(1), pages 415-432, August.
    3. Esteban Gómez González & Nancy Zamudio Gómez, 2012. "Las capacidades financieras de la población colombiana," BORRADORES DE ECONOMIA 009828, BANCO DE LA REPÚBLICA.
    4. Kelly, Robert & McCarthy, Yvonne & McQuinn, Kieran, 2012. "Impairment and negative equity in the Irish mortgage market," Journal of Housing Economics, Elsevier, vol. 21(3), pages 256-268.
    5. Doyle, Nicola, 2009. "Housing Finance Developments in Ireland," Quarterly Bulletin Articles, Central Bank of Ireland, pages 75-88, October.

    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • G0 - Financial Economics - - General

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