Financial literacy and socialist education: lessons from the german reunification
- A growing body of literature shows the importance of financial literacy in households' financial decisions. However, fewer studies focus on understanding the determinants of financial literacy. Our paper fills this gap by analyzing a specific determinant, the educational system, to explain the heterogeneity in financial literacy scores across Germany. We suggest that the lower financial literacy observed in East Germany is partially caused by a different institutional framework experienced during the Cold War, more specifically, by the socialist educational system of the GDR which affected specific cohorts of individuals. By exploiting the unique set-up of the German reunification, we identify education as a channel through which institutions and financial literacy are related in the German context.
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| Verfasserangaben: | Maddalena Davoli, Jia Hou |
|---|---|
| URN: | urn:nbn:de:hebis:30:3-463279 |
| URL: | https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3224207 |
| DOI: | https://doi.org/10.2139/ssrn.3224207 |
| Titel des übergeordneten Werkes (Englisch): | SAFE working paper series ; No. 217 |
| Schriftenreihe (Bandnummer): | SAFE working paper (217) |
| Verlag: | SAFE |
| Verlagsort: | Frankfurt am Main |
| Dokumentart: | Arbeitspapier |
| Sprache: | Englisch |
| Jahr der Fertigstellung: | 2018 |
| Jahr der Erstveröffentlichung: | 2018 |
| Veröffentlichende Institution: | Universitätsbibliothek Johann Christian Senckenberg |
| Datum der Freischaltung: | 21.08.2018 |
| Freies Schlagwort / Tag: | DiD; German reunification; financial literacy determinants; socialist education |
| Seitenzahl: | 49 |
| HeBIS-PPN: | 436139650 |
| Institute: | Wirtschaftswissenschaften / Wirtschaftswissenschaften |
| Wissenschaftliche Zentren und koordinierte Programme / House of Finance (HoF) | |
| Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS) | |
| Wissenschaftliche Zentren und koordinierte Programme / Sustainable Architecture for Finance in Europe (SAFE) | |
| DDC-Klassifikation: | 3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft |
| Sammlungen: | Universitätspublikationen |
| Lizenz (Deutsch): |  Deutsches Urheberrecht |
