Financial Literacy: What Have we Learned so Far?

Ahmed Sameer El Khatib

doi:10.31686/ijier.vol9.iss3.2971

Authors

Ahmed Sameer El Khatib

Centro Universitário FECAP

DOI:

https://doi.org/10.31686/ijier.vol9.iss3.2971

Keywords:

Financial literacy, Cognitive process dimension, Programme for International Student Assessment

Abstract

The present paper explores various approaches to the development of cognitive process dimensions in financial literacy. Applying the regression model, the study has examined the strength of the relationship between the actual financial competence of 413 Brazilian’s students aged 18-21, studying economic disciplines, and their school performance. The research has produced the following conclusions: (a) a weak dependence of actual skills on school performance; (b) inherently associated consequence of school performance is not corresponding to the actual financial skills; (c) a low level of financial competence in the dimensions - Remember, Understand and Apply.

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