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The financial capability of 15-year-olds in Greece

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  • Tzora, Vasiliki A.
  • Philippas, Nikolaos D.
  • Panos, Georgios A.

Abstract

We conduct the first nationally representative measurement of the financial capability of 15-year-old students in Greece. We find discrepancies between the core, the islands, and the periphery of the country. Female students score lower in terms of all knowledge, behaviour, and attitudes. Students in experimental schools, the better performing ones, and those with more educated parents are more financially capable, reflecting the absence of a dedicated personal-finance curriculum. Awareness of household finances is positively related to financial capability. Local economic conditions matter, with students in regions affected more by the economic crisis of 2008–2016 exhibiting lower financial capability.

Suggested Citation

  • Tzora, Vasiliki A. & Philippas, Nikolaos D. & Panos, Georgios A., 2023. "The financial capability of 15-year-olds in Greece," Economics Letters, Elsevier, vol. 225(C).
    • Handle: RePEc:eee:ecolet:v:225:y:2023:i:c:s0165176523000691
    DOI: 10.1016/j.econlet.2023.111044
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    References listed on IDEAS

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    1. Bottazzi, Laura & Lusardi, Annamaria, 2021. "Stereotypes in financial literacy: Evidence from PISA," Journal of Corporate Finance, Elsevier, vol. 71(C).
    2. Adele Atkinson & Flore-Anne Messy, 2012. "Measuring Financial Literacy: Results of the OECD / International Network on Financial Education (INFE) Pilot Study," OECD Working Papers on Finance, Insurance and Private Pensions 15, OECD Publishing.
    3. Doriana Cucinelli & Paolo Trivellato & Mariangela Zenga, 2019. "Financial Literacy: The Role of the Local Context," Journal of Consumer Affairs, Wiley Blackwell, vol. 53(4), pages 1874-1919, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Financial capability; Students; Greece; Local environment;
    All these keywords.

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education

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