{"id":8010,"date":"2023-07-23T08:02:59","date_gmt":"2023-07-23T12:02:59","guid":{"rendered":"https:\/\/creei.ca\/canadian-gender-gap-in-financial-literacy-confidence-matters\/"},"modified":"2023-11-23T13:20:44","modified_gmt":"2023-11-23T18:20:44","slug":"canadian-gender-gap-financial-literacy-confidence-matters","status":"publish","type":"page","link":"https:\/\/creei.ca\/en\/canadian-gender-gap-financial-literacy-confidence-matters\/","title":{"rendered":"Canadian Gender Gap in Financial Literacy: Confidence Matters"},"content":{"rendered":"

<\/div>Short Summary:<\/p>\n
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We construct a \ufb01nancial literacy<\/strong> index as well as a \ufb01nancial con\ufb01dence<\/strong> index in order to evaluate the effect of con\ufb01dence on \ufb01nancial literacy, and more speci\ufb01cally, on the gender gap<\/strong> in \ufb01nancial literacy. Results con\ufb01rm the existence of a gender gap in \ufb01nancial literacy in Canada<\/strong>, and show that having a higher con\ufb01dence in one\u2019s \ufb01nancial skills and knowledge is indeed a factor that increases one\u2019s \ufb01nancial literacy. Financial con\ufb01dence is found not to track actual \ufb01nancial skills very closely through ages, especially for women, and at older ages. We also \ufb01nd evidence that \ufb01nancial literacy and decision making are related to the relative education level of spouses. Using the Oaxaca-Blinder decomposition, con\ufb01dence is also found to explain 14.15% of the gender gap in \ufb01nancial literacy, while being self-employed explains 19% of the gap, and taking part in the \ufb01nancial planning accounts for 16.76% of the gender gap difference. We find that most of the gap remains unexplained by differences in coefficients of men and women.<\/p>\n<\/div>\n<\/div>\n

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Publication authors: Raquel Fonseca and Simon Lord<\/div>\n<\/div>\n
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Number: 19-05<\/div>\n<\/div>\n
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File: \"\" cahier_19_05_canadian_gender_gap_financial_literacy_confidence.pdf<\/a><\/div>\n<\/div>\n
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Year: 2019<\/div>\n
*Scientific Publication: Special Issue on Gender Perspectives in Public Economics of Hacienda P\u00fablica Espa\u00f1ola\/Review of Public Economics, 235(6\/2020), pp. 153\u2013182.<\/a><\/div>\n<\/div>\n<\/div>

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