The Importance of Financial Literacy

Opening a New Field

Dados Bibliográficos

ID4030306
AutoresAnnamaria Lusardi (0000-0002-2378-7489, Annamaria Lusardi is Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR) and the Director of the Financial Freedom Initiative, a collaboration between the Graduate School of Business (GSB), SIEPR, and the Economics Department, Stanford University, Stanford, California.), Olivia S Mitchell (0000-0002-6419-8314, (Olivia Mitchell is Professor of Insurance/Risk Management and Business Economics/Policy, and Executive Director of the Pension Research Council, at The Wharton School, University of Pennsylvania, Philadelphia, Pennsylvania. ).)
Ano2023
Volume37
Fascículo4
Páginas137-154
Data de publicação2023-11-01
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoThe Journal of Economic Perspectives (JOURNAL)
Identificadores do periódicoISSN: 0895-3309 • E-ISSN: 1944-7965
EditoraAmerican Economic Association (PUBLISHER • US)
DOI10.1257/jep.37.4.137
OpenAlexW4388303860
IdiomaEN
Citações recebidas25
Referências citadas5

We undertake an assessment of our two decades of research on financial literacy, building on our empirical research and theoretical work casting financial knowledge as a form of investment in human capital. We also draw on recent data to determine who is the most-and least-financially savvy in the United States, and we highlight the similarity of our results in other countries. A number of convincing studies is now available, from which we draw conclusions about the effects and consequences of financial illiteracy, and what can be done to fill these gaps. We conclude by offering our thoughts on implications for teaching, policy, and future research

Business · Economic growth · Economics · Empirical research · Financial literacy · Functional illiteracy · Human capital · Literacy · Political science · Politics · Engineering · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Housing, Finance, and Neoliberalism · Finance