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European politicians and financial literacy activism: Does financial (in)stability matter?

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  • Borghi, Elisa
  • Masciandaro, Donato
  • Papini, Alessia

Abstract

Financial education can influence the level of financial literacy. In each country, political incentives can shape financial education policies. Political activism in financial education can be motivated by concerns over financial instability. This theoretical relationship is empirically validated applying text analysis. By using financial education narratives as a proxy for political activism among European Parliament politicians from 1997 to 2024, we test whether financial instability cases matter in explaining political activism in financial education.

Suggested Citation

  • Borghi, Elisa & Masciandaro, Donato & Papini, Alessia, 2024. "European politicians and financial literacy activism: Does financial (in)stability matter?," Economics Letters, Elsevier, vol. 244(C).
    • Handle: RePEc:eee:ecolet:v:244:y:2024:i:c:s0165176524004658
    DOI: 10.1016/j.econlet.2024.111981
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    More about this item

    Keywords

    Financial education; Financial literacy; Financial instability; Political incentives; Text analysis; European Parliament;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy

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