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The Role of Knowledge Brokers in Improving Financial Literacy

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Listed:
  • Chaouki Mouelhi
  • Hajer Hammami

Abstract

Several governments around the world have tried strategies based primarily on financial education programs to improve the financial literacy of their citizens. In this study, we discuss a new strategy that involves using knowledge transfer activities carried out by intermediary agents, called financial knowledge brokers, to achieve significant improvement in financial literacy. Thus, the aim of this paper is to test the impact of the five activities of financial knowledge brokers (i.e., financial knowledge acquisition, financial knowledge integration, financial knowledge adaptation, financial knowledge dissemination, and creation of links) on ​​financial literacy. For this, we built a database from a questionnaire carried out to nearly 103 financial advisers during the period June 2015 to June 2017. Overall, the results of Structural equation Modeling (SEM) technique showed that the financial knowledge brokerage activities (four of the five activities) have a positive impact on improving financial literacy as well as on its four dimensions, namely financial attitude, financial behavior, basic financial knowledge, and advanced financial knowledge. JEL classification numbers: D80, F65, G20, I20.

Suggested Citation

  • Chaouki Mouelhi & Hajer Hammami, 2021. "The Role of Knowledge Brokers in Improving Financial Literacy," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 11(3), pages 1-5.
    • Handle: RePEc:spt:admaec:v:11:y:2021:i:3:f:11_3_5
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    References listed on IDEAS

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    More about this item

    Keywords

    Financial literacy; Knowledge brokers; Structural equation modeling.;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • I20 - Health, Education, and Welfare - - Education - - - General

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