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Follow us, not? Gender differences in financial literacy within the global leader of gender equality

Author

Listed:
  • Sigurdur Gudjonsson

    (University of Iceland, Iceland)

  • Kari Kristinsson

    (University of Iceland, Iceland)

  • Inga Minelgaite

    (University of Iceland, Iceland)

Abstract

Gender differences in financial literacy are examined in this research. A considerable body of research suggests women are inferior to men when it comes to financial literacy. Various social factors (e.g., gender inequality) are typically attributed as antecedents of this reality. We set out to investigate whether gender differences in financial literacy are present in Iceland, the most gender-equal country in the world. If financial literacy is based on social norms and issues, gender differences in financial literacy should be less in countries like Iceland, where women are highly economically and otherwise empowered. Using a representative sample from the Icelandic population and controlling for a host of factors, we find women to be less financially literate than men despite substantial gender equality in Iceland.

Suggested Citation

  • Sigurdur Gudjonsson & Kari Kristinsson & Inga Minelgaite, 2022. "Follow us, not? Gender differences in financial literacy within the global leader of gender equality," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 10(2), pages 351-361, December.
    • Handle: RePEc:ssi:jouesi:v:10:y:2022:i:2:p:351-361
    DOI: 10.9770/jesi.2022.10.2(21)
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    References listed on IDEAS

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    More about this item

    Keywords

    financial literacy; gender; Iceland;
    All these keywords.

    JEL classification:

    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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