Measuring financial knowledge: a macroeconomic perspective

Oliver-Márquez, Francisco J.; Guarnido-Rueda, Almudena; Amate-Fortes, Ignacio

doi:10.1007/s10368-020-00482-2

Cited by 7 publications

(3 citation statements)

References 45 publications

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“…To represent countries’ economic capacity, their gross domestic product per capita was included as an indicator on level 3 of the model (Oliver-Márquez et al, 2020). The GDP per capita represents a global measure of the value of “goods and services produced within a country over a given period of time” (Stiglitz et al, 2018; p. 18).…”

Section: Methodsmentioning

confidence: 99%

School innovativeness is associated with enhanced teacher collaboration, innovative classroom practices, and job satisfaction.

Blömeke¹,

Nilsen²,

Scherer³

2021

Journal of Educational Psychology

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School innovativeness has become a crucial criterion for the long-term success of education systems in terms of their adaptability to societal changes. We examined the relations among school innovativeness—measured by teachers’ perceptions to what extent the climate at their school is open for innovation and change—and key outcomes at the teacher and school level, including contextual effects. Large-scale data from the 48 countries participating in the Teaching and Learning International Survey (TALIS) 2018 (N = 154,959) were utilized. To quantify effects and explain possible between-country variation, we performed multilevel structural equation modeling and meta-analyses. The data supported the hypothesis that more innovative schools delivered better outcomes in terms of teacher collaboration and exchange, job satisfaction, cognitive activation of students, and innovative teaching practices. The strength of relations varied by outcome and country. Contextual effects of school innovativeness existed for job satisfaction, teaching practices, and exchange among teachers. The data revealed that effects involving teacher collaboration and exchange as well as job satisfaction were more homogeneous across countries than those involving cognitive activation and innovative teaching practices. As hypothesized, teachers’ prior opportunities-to-learn how to teach cross-curricular skills, how to use information and communication technology (ICT), and how to handle diversity were directly related to the outcomes and indirectly via school innovativeness, thus confirming a mediating role of the latter. The data supported the hypothesis that country patterns could be explained by countries’ cultural orientation (individualism vs. collectivism), yet not their economic status. We discuss implications for educational policy making and teacher education.

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Section: Methodsmentioning

confidence: 99%

School innovativeness is associated with enhanced teacher collaboration, innovative classroom practices, and job satisfaction.

Blömeke¹,

Nilsen²,

Scherer³

2021

Journal of Educational Psychology

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“…Therefore, it is feasible to think that those people with a poor state of health (themselves or their relatives) who live in regions with a lower degree of social protection (such as the Murcia Region and Extremadura) face greater economic difficulties than their counterparts. Precisely this situation could lead them to an improvement in their financial skills, the result of a greater need for contracting private healthcare to replace or complement public healthcare (Buckland, 2010;Japelli, 2010;Yong & Tan, 2017;Kalmi & Ruuskanen, 2018, Cupák et al 2021Oliver-Márquez et al, 2021b). These findings are novel as the implications that individuals' health has on their financial knowledge is an under-explored issue in previous literature (James et al, 2012;Han et al, 2014Han et al, , 2016Finke et al, 2017).…”

Section: Resultsmentioning

confidence: 99%

Regional Comparative Analysis on the Determinants of the Spaniards’ Financial Knowledge

et al. 2023

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Are there regional differences in the determinants of financial knowledge in the Spanish adult population? To answer this question, we use data from the Spanish Survey of Financial Competences to estimate qualitative response models in which each of the "big three" of financial knowledge (inflation, compound interest, and risk diversification) acts as a dependent variable on a set of explanatory variables concerning the particularities of individuals. We find that, while some factors determine financial knowledge in a generalized way in most regions and in the same direction (e.g., gender, education, self-confidence), others do so in different ways depending on the region analyzed. Among the latter are health status and financial fragility (where, in both, the different degree of social protection between regions may play an important role), as well as birthplace and age, among others. Rurality also stands out as having different implications in Navarra than in the rest of the regions. We conclude by proposing to use both longitudinal and aggregate indicators of financial knowledge in Spanish regions in order to analyze in the future related issues that are beyond the possibilities offered by microdata bases.

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“…Recently, Oliver-Márquez et al (2021) have created a financial knowledge index (FKI) whose design is longitudinal. This means that this FKI measures the financial knowledge of several countries over several years.…”

Section: Introductionmentioning

confidence: 99%

Is Income Inequality Influenced by Financial Knowledge? A Macroeconomic and Longitudinal Analysis

et al. 2021

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Our objective is to analyze whether financial knowledge influences income inequality. For this purpose, we resort to a new index of financial knowledge that differs from the existing ones in that it is both longitudinal and macroeconomic. We use this index as one of the explanatory variables of the Net Gini Index in our panel data estimations. Based on a sample of 63 countries over the period 2008–2014, our results allow us to conclude that financial knowledge is related to income inequality and that, moreover, this relationship is non-linear. Thus, increases in financial knowledge could reduce income inequality when starting from relatively low levels of such knowledge. However, at a certain threshold, the income redistributive effect of financial knowledge could disappear or even reverse. Even so, national strategies for financial education could be useful to achieve economic equity in those countries where financial knowledge levels are low. In addition, we shed light on the effect that other variables (such as institutional quality or under-education) have on income inequality.

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Measuring financial knowledge: a macroeconomic perspective

Cited by 7 publications

References 45 publications

School innovativeness is associated with enhanced teacher collaboration, innovative classroom practices, and job satisfaction.

School innovativeness is associated with enhanced teacher collaboration, innovative classroom practices, and job satisfaction.

Regional Comparative Analysis on the Determinants of the Spaniards’ Financial Knowledge

Is Income Inequality Influenced by Financial Knowledge? A Macroeconomic and Longitudinal Analysis

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