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The effect of remittances on financial literacy in Mexico

Author

Listed:
  • Alfredo Cuecuecha Mendoza

    (Universidad Popular Autónoma del Estado de Puebla, México)

Abstract

Este artículo estudia el impacto de las remesas sobre el alfabetismo financieros y sus componentes de conocimiento, comportamiento y actitud usando datos para México provenientes de ENIF 2021. Se utilizan variables instrumento, estimadores emparejados aleatorizados y estimaciones no paramétricas para controlar endogeneidad y otros problemas econométricos. Es el primer estudio en encontrar que las remesas aumentan el nivel promedio de alfabetismo financiero y sus componentes. El efecto no es monotónico pues el estudio encuentra que las remesas reducen la probabilidad de que los individuos muestren altos niveles de alfabetismo, así como de sus componentes. Estimaciones no paramétricas muestran que las remesas mueven la distribución de alfabetismo financiero hacia el centro de la distribución, lo que explica por qué los valores promedios de alfabetismo financiero son mayores que el promedio. Estos resultados pueden implicar que los hogares que reciben remesas aumentan su alfabetismo financiero con la experiencia, la cual es un proceso con retornos decrecientes. Los resultados demuestran la importancia de promover la educación financiera entre la población que recibe remesas. Una limitante es que no se cuenta con datos panel.

Suggested Citation

  • Alfredo Cuecuecha Mendoza, 2024. "The effect of remittances on financial literacy in Mexico," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 19(1), pages 1-22, Enero - M.
    • Handle: RePEc:imx:journl:v:19:y:2024:i:1:p:5
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    File URL: https://www.remef.org.mx/index.php/remef/article/view/877
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    References listed on IDEAS

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    More about this item

    Keywords

    Alfabetismo financiero; Comportamiento financiero; Conocimiento financiero; Actitudes financieras; Remesas; México;
    All these keywords.

    JEL classification:

    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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