Chiara Monticone: Gender differences in financial literacy
•
0 recomendaciones•655 vistas
This presentation was presented at the OECD's Conference on Business, Finance and Gender on 8 March 2017. More information: http://oe.cd/wmn
Recomendados
Recomendados
Más contenido relacionado
Destacado
Destacado (19)
Más de OECD Directorate for Financial and Enterprise Affairs
Más de OECD Directorate for Financial and Enterprise Affairs (20)
Último
Último (20)
Chiara Monticone: Gender differences in financial literacy
- 1. GENDER DIFFERENCES IN FINANCIAL LITERACY Chiara MONTICONE, OECD Conference on business, finance and gender 8 March 2017
- 2. OECD/INFE financial literacy survey This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.
- 3. Differences in… • Knowledge of financial concepts • Confidence in financial skills • Long-term orientation • Willingness to take risk • Ability to cope with shocks …which contribute to differences in outcomes along the life cycle, such as saving for retirement, empowerment, well-being What do the data tell about women and men?
- 4. -5 0 5 10 15 20 25 30 Belarus Albania Croatia Latvia Estonia Thailand Malaysia RussianFederation Poland Hungary CzechRepublic SouthAfrica VirginIslands,British Brazil Chile Georgia HongKong,China Korea Austria Finland France Portugal Turkey Lithuania Belgium Canada UnitedKingdom NewZealand Jordan Netherlands Norway Percentagepointsdifference(men-women) Men are more knowledgeable than women about financial concepts Difference between men and women in the percentage of adults who can answer correctly at least five financial knowledge questions out of seven Source: OECD (2016), OECD/INFE financial literacy survey
- 5. 0 0.5 1 1.5 2 2.5 Albania VirginIslands,British Estonia Latvia Thailand Austria NewZealand Norway Belarus RussianFederation Malaysia Finland Brazil Netherlands CzechRepublic Lithuania Belgium Canada SouthAfrica Croatia HongKong,China Georgia Turkey Hungary Poland Portugal Jordan UnitedKingdom Oddsratio Men more likely to report above average knowledge Women more likely to report above average knowledge Women are less confident than men… …but also less over-confident Likelihood of men with respect to women of reporting above average financial knowledge, after accounting for actual financial knowledge Source: OECD (2016), OECD/INFE financial literacy survey
- 6. 0 0.5 1 1.5 2 Before I buy something I carefully consider whether I can afford it I keep a close personal watch on my financial affairs I tend to live for today and let tomorrow take care of itself I find it more satisfying to spend money than to save it for the long term I am prepared to risk some of my own money when saving or making an investment Odds ratio Women are more cautious and forward-looking than men Likelihood of men with respect to women to agree with the following statements, average across 30 countries Women (self- reportedly) better at short-term money management Women more oriented towards the long-term Men more willing to take risk Source: OECD (2016), OECD/INFE financial literacy survey Women more likely to agree Men more likely to agree
- 7. 0.8 0.9 1 1.1 1.2 1.3 1.4 Income did not quite cover living costs in the last 12 months Able to cover living expenses for at least three months if lost main source of household income, without borrowing any money or moving house Pay for major expense – equivalent to one month income – without borrowing the money or asking family or friends to help Oddsratio Men more likely to report this Women more likely to report this Women are less able than men to cope with income or expenditure shocks Likelihood of men with respect to women to report that they can cover living expenses, average across 26 countries Source: OECD (2016), OECD/INFE financial literacy survey
- 8. 0 0.2 0.4 0.6 0.8 1 1.2 1.4 1.6 1.8 Turkey HongKong,China Albania Norway VirginIslands,British Jordan NewZealand Malaysia CzechRepublic Hungary UnitedKingdom Latvia Netherlands Poland Canada SouthAfrica Belgium Portugal Croatia RussianFederation Belarus Estonia Thailand Georgia Lithuania Korea Men more likely to rely on spouse Women more likely to rely on spouse Women are less able to fund their retirement independently Likelihood of men with respect to women to report that they would /do rely on a spouse or partner to fund retirement Source: OECD (2016), OECD/INFE financial literacy survey
- 9. OECD-INFE Policy guidance on addressing women’s and girls’ needs for financial awareness and education published in 2013 upon G20 call Continue collect data and perform gender analysis of the financial literacy of adults and young people (PISA) OECD work to support evidence-based policy