RT Generic
T1 The effect of self-confidence on financial literacy
A1 Arellano Espinar, Francisco Alfonso
A1 Cámara, Noelia
A1 Tuesta, David
AB This study analyses whether self-confidence affects financial abilities of young people in Spain, through financial literacy. We use data from the Programme for International Student Assessment (PISA) Financial Literacy (2012) report, conducted by the OECD. Our hypothesis is that non-cognitive factors are important to establish young people’s financial literacy. Financial knowledge, together with other personal attitudes, determines people’s financial behaviour. We focus on the role of self-confidence in four dimensions. First, the student’s self-confidence in the environment of their college; second, self-confidence referring to the utility found at school; third, self-confidence in relation to the results obtained; and finally, self-confidence in a broader sense. Our multi-level estimates show that students with higher levels of self-confidence score higher in financial literacy tests, whatever the dimension considered. Beyond the individual’s inherent characteristics, there are other factors such as maturity, gender, socio-economic characteristics and the surroundings, which also influence financial literacy.
PB BBVA Research
YR 2014
FD 2014-10
LK https://hdl.handle.net/20.500.14352/107645
UL https://hdl.handle.net/20.500.14352/107645
LA eng
NO Arellano A, Cámara N, Tuesta D. The effect of self-confidence on financial literacy. BBVA Research working paper 14/28; October 2014; BBVA Research; Madrid
DS Docta Complutense
RD 6 abr 2025