Measuring and profiling financial literacy in South Africa

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dc.contributor.author Nanziri, Elizabeth L
dc.contributor.author Leibbrandt, Murray
dc.date.accessioned 2018-06-08T08:49:11Z
dc.date.available 2018-06-08T08:49:11Z
dc.date.issued 2018-05
dc.identifier.citation Nanziri, E., & Leibbrandt, M. (2018). Measuring and profiling financial literacy in South Africa. South African Journal of Economic and Management Sciences, 21(1), 17 pages. doi:https://doi.org/10.4102/sajems.v21i1.1645 en_US
dc.identifier.uri https://doi.org/10.4102/sajems.v21i1.1645
dc.description.abstract Background: Microeconomic theories of financial behaviour tend to assume that consumers possess financial skills necessary to undertake related financial decisions. Aim and setting: We investigated this assumption by exploring the distribution of financial literacy among South Africans. Method: In the absence of a standard measure, a financial literacy index was constructed for the country using data collected on attitudes (towards), access to and use of financial services over the period 2005–2009. In a multivariate regression analysis, we used the index to examine the extent to which differences in financial literacy correlate with demographic and economic characteristics. Results: The index revealed substantial variation in financial literacy by age, education, province and race. Overall, demographic characteristics contributed up to 10% of the financial literacy differences among individuals in South Africa. Conclusion: 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.language.iso en en_US
dc.publisher South African Journal of Economic and Management Sciences en_US
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 Article en_US


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