Financial literacy among high school students
Evidence from India
Bibliographic Data
| ID | 13009916 |
|---|---|
| Authors | J D Jayaraman (0000-0002-3904-281X, New Jersey City University, corresponding author), Saigeetha Jambunathan (0000-0001-7894-3955, New Jersey City University) |
| Year | 2018 |
| Volume | 17 |
| Issue | 3 |
| Pages | 168-187 |
| Publication date | 2018-10-31 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Citizenship Social and Economics Education (JOURNAL) |
| Journal identifiers | ISSN: 2047-1734 • E-ISSN: 2047-1734 |
| Publisher | SAGE Publishing (PUBLISHER • US) |
| DOI | 10.1177/2047173418809712 |
| OpenAlex | W2899327349 |
| Language | EN |
| Citations received | 4 |
| References cited | 56 |
Financial literacy is an important but oft ignored skill that is vital for young people. This study measured financial literacy levels among high school students ( N = 608) in India and found low levels of performance on standard measures of financial literacy. The percentage correct score on the basic financial literacy questions was 45% and on the sophisticated financial literacy questions the score was 44%. Financial literacy levels in India were found to be lower than those in developed countries. Gender differences were found, with females outperforming males, contrary to findings in developed countries. Students who pursued the commerce/economics stream of education were found to have higher levels of financial literacy than students pursuing the science stream. Results showed that students, despite having high levels of numeracy, were unable to transfer that knowledge to do financial computations. Parental involvement was also found to have a significant influence on financial literacy. Interviews with students highlighted the fact that understanding of societal and macroeconomic impacts of financial literacy was low. These findings lend support for high school financial education which involves parents and stresses practical hands-on application, societal and macroeconomic impact, as a means of improving financial literacy
Economics · Financial literacy · Literacy · Numeracy · Pedagogy · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Microfinance and Financial Inclusion · Psychology · Finance
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| Unique citing works | 4 |
|---|---|
| Citations per year | 0,67 |
| Citation span | 2020 - 2026 (7) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 4 |