Abstract: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 knowle… Show more
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