For social and economic reasons, national economies benefit from the inclusion of as many people as possible in financial services. In a cross country study, the present study shows that financial literacy for the general population promotes financial inclusion. This relationship goes beyond the effect of higher economic or financial development. And the effect of higher levels of financial literacy ...
The Berlin IO Day is a one-day workshop sponsored by the Berlin Centre for Consumer Policies (BCCP) and supported by the Berlin's leading academic institutions, including DIW Berlin, ESMT Berlin, Freie Universität Berlin, Humboldt-Universität zu Berlin, Technische Universität Berlin, and WZB which takes place twice a year, in the Fall and in the Spring. The aim is to create an...
The Berlin IO Day is a one-day workshop sponsored by the Berlin Centre for Consumer Policies (BCCP) and supported by Berlin's leading academic institutions, including DIW Berlin, ESMT, Humboldt-Universität zu Berlin, Technische Universität Berlin, and WZB which takes place twice a year, in the fall and in the spring. The aim is to create an international forum for high quality research...
In most countries, women have a lower level of financial literacy than men on average. This report demonstrates that differences in income and education and less experience in financial matters only provide a partial explanation for the gender gap. Data from various countries show that cultural differences may also play a role. In order to close the gender gap in financial literacy, schools should ...
Big data is transforming the world we live in. The instant availability of information impacts how individuals consume, how businesses thrive or fail, how society makes scientific discoveries, as well as how governments design and implement informed policies. At a pace and scale unanticipated 20 years ago, information technology is enabling consumers globally. Uncountable services make use of a...
The tremendous growth of digital transactions – mainly through online platforms – has profoundly affected the way we interact and has opened vast opportunities to improve our lives. The disruptive impact of this process is driven by one core feature: its ability to reduce inefficiencies. Consumers have benefited from an unprecedented proliferation of new services and products that...
In Germany and many other countries, financial advisors are required by law to assess their clients’ risk preferences in order to help them make informed and appropriate investment decisions. Most institutions that provide financial advice - banks, for instance - carry out this assessment using just one type of risk measure. Financial advisors might ask clients to answer a question about their attitudes ...