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The importance of financial literacy: Evidence from Singapore.
- Source :
- Journal of Financial Literacy & Wellbeing; Jul2023, Vol. 1 Issue 2, p225-243, 19p
- Publication Year :
- 2023
-
Abstract
- In this paper, we examine financial literacy in Singapore. Using data from the SKBI-GFLEC Sustainable Investment Survey, we find that approximately 40% of Singaporeans are financially literate. We also find that financial literacy is low among specific groups such as women, the less educated, and the unemployed. Moreover, we examine financial literacy across Environmental, Social, and Governance (ESG) literacy. We find that those with higher ESG knowledge are also more financially literate, showing that knowledge of these two different financial concepts is positively correlated. Finally, our results show that financial literacy can be linked to investment behavior which may affect financial well-being in the long run. [ABSTRACT FROM AUTHOR]
- Subjects :
- FINANCIAL literacy
SUSTAINABLE investing
ENVIRONMENTAL literacy
WELL-being
INVESTORS
Subjects
Details
- Language :
- English
- ISSN :
- 27533212
- Volume :
- 1
- Issue :
- 2
- Database :
- Complementary Index
- Journal :
- Journal of Financial Literacy & Wellbeing
- Publication Type :
- Academic Journal
- Accession number :
- 176423545
- Full Text :
- https://doi.org/10.1017/flw.2023.11