This article provides a concise narrative overview of the rapidly growing empirical literature on financial literacy and financial education. We first discuss stylized facts on the demographic correlates of financial literacy. We next cover the evidence on the effects of financial literacy on...

Few retirees use reverse mortgages. In this paper, we investigate how financial literacy and prior knowledge of the product influence take-up by conducting a stated-preference experiment. We exogenously manipulate characteristics of reverse mortgages to tease out how consumers value them and...

In this paper, we examine the effect of financial literacy on financial well-being. Using a panel data set of Dutch households over 2011-2020, we find that initial (2011) financial literacy positively impacts future wealth accumulation and income generation. We further document that initial...

A growing literature examines the roles of financial literacy in an individual's income, saving behavior, and the use of financial products including financial technology (fintech). However, no study has examined the effects of the financial literacy of family business owners on fintech use and...

This study seeks to contribute to the understanding of the underlying factors that can explain the high levels of financial exclusion that persist in Mexico, with focus on the role of financial literacy. Our analysis is based on the 2018 National Survey of Financial Inclusion in Mexico (ENIF)....

Using the 2015 and 2017 waves of the China Household Finance Survey (CHFS), we measured financial literacy and study its relationship to households' demand for digital finance. We found that a majority of households in the People's Republic of China possess limited financial literacy. The low...

The thesis deals with usury and illegal lenders both on the domestic scene and abroad. The usury itself is defined by its characteristics, by adjudication and by historical connotations. The historical definition begins in Mesopotamia and ancient Rome, basically since the emergence of money. The...

To explore the determinants of peer-to-peer (P2P) lending expansion, this study examines factors that impact P2P lending using a sample of 62 economies over the period 2015-2017. We investigate the effects of financial development and financial literacy on the expansion of P2P lending. The level...