Název:	Financial literacy and financial well-being: the case of Eastern, Central, and Northern Europe
Autoři:	Versal, Nataliia Balytska, Mariia Honchar, Ihor Erastov, Vasyl
Citace zdrojového dokumentu:	KRESA, Zdeněk (ed.) Business Trends 2022, Plzeň 2022, p. 249-261.
Datum vydání:	2022
Nakladatel:	Faculty of Economics University of West Bohemia
Typ dokumentu:	konferenční příspěvek conferenceObject
URI:	http://hdl.handle.net/11025/54550
ISBN:	978-80-261-1126-9
Klíčová slova:	finanční zdraví;úspory;rozpočtování;finanční chování;finanční znalosti;finanční postoj
Klíčová slova v dalším jazyce:	financial health;savings;sound budgeting;financial behaviour;financial knowledge;financial atttude
Abstrakt v dalším jazyce:	Nowadays, financial literacy is an integral part of education in many countries because of its positive influence on financial inclusion, and financial well-being of households is supposed. In this study, attention is focused on finding out which components of financial literacy (knowledge, behaviour, and attitude) determine the financial well-being of individuals to a greater extent, as well as the link between subjective and objective financial well-being and financial literacy. The Global Findex Database of the World Bank correlation and regression analysis was used inline with the principal components method to process data samples for Ukraine, Georgia, Czechia, Hungary, Croatia, Poland, Austria, Lithuania, and Estonia from OECD/INFE. Cross-country differences indicate that the more economically developed a country is, the higher its financial literacy level can be observed. Also, countries with lower financial literacy levels have more significant growth potential, with Poland and Ukraine as examples. The contribution of knowledge, behaviour, and attitude, in general, can be considered as uniform in terms of financial literacy index formation that corresponds to the index logic. It should be noted that in economically developed countries higher correlation dependency between financial literacy and knowledge and attitudes can be spotted than behaviour. At the same time, behaviour determines households` financial well-being level. It was detected that subjective financial well-being and financial literacy level equally, by approximately 63%, are driven by savings and sound budgeting. The wartime experience of Ukraine shows that depositors' behaviour can be quite different and depending on a set of factors, such as banking system development level, level of trust in the banking system, and financial literacy level.
Práva:	© Authors of papers
Vyskytuje se v kolekcích:	Business Trends 2022: Conference Proceedings Business Trends 2022: Conference Proceedings

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