Measuring and profiling financial literacy in South Africa

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Show simple item record Nanziri, Elizabeth Lwanga Leibbrandt, Murray 2016-08-11T10:30:01Z 2016-08-11T10:30:01Z 2016-08
dc.identifier.citation Nanziri, E., Leibbrandt, M. (2016). Measuring and profiling financial literacy in South Africa. A Southern Africa Labour and Development Research Unit Working Paper Number 171. Cape Town: SALDRU, University of Cape Town.
dc.identifier.isbn 978-1-928281-32-0
dc.description.abstract Microeconomic theories of financial behaviour tend to assume that consumers possess financial skills necessary to undertake related financial decisions. We investigate this assumption by exploring the distribution of financial literacy among South Africans. In the absence of a standard measure, a financial literacy index is constructed for the country using data collected on attitudes (towards), access to and use of financial services over the period 2005 – 2009. We use the index to examine the extent to which differences in financial literacy correlate with demographic and economic characteristics. The Index reveals substantial variation in financial literacy by age, education, province and race. Overall, demographic characteristics contribute up to 10% of the financial literacy differences among individuals in South Africa. These results can be used to guide policy makers where to place more emphasis in terms of financial education for South Africans. en_US
dc.description.sponsorship Elizabeth Lwanga Nanziri acknowledges funding from the Carnegie Corporation and the National Research Foundation for financial support for her doctoral work. Murray Leibbrandt acknowledges the Research Chairs Initiative of the Department of Science and Technology, and the National Research Foundation for funding his work as the Chair in Poverty and Inequality Research. en_US
dc.language.iso en en_US
dc.relation.ispartofseries Saldru Working Paper;171
dc.subject Financial literacy en_US
dc.subject Index en_US
dc.subject South Africa en_US
dc.title Measuring and profiling financial literacy in South Africa en_US
dc.type Working Paper en_US

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