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Effect of Financial Literacy on Household Wealth Accumulation among Swedish Households

Raza, Syeda Nida LU (2023) NEKN01 20231
Department of Economics
Abstract
The objective of this study is to examine the effect of financial literacy on household wealth accumulation among Swedish households. Prior research have suggested that financial literacy plays a significant role in financial decision making. Using household data from The Financial Supervisory Authority (FI) of Sweden and instrumental variable approach, the study aims to isolate the effect of financial literacy on household wealth accumulation. The results show that people with better understanding of basic and advanced financial concepts are less likely to end up in financial distress and more likely to have higher wealth accumulation. The findings of my study supports the viewpoint that policies aimed towards providing financial... (More)
The objective of this study is to examine the effect of financial literacy on household wealth accumulation among Swedish households. Prior research have suggested that financial literacy plays a significant role in financial decision making. Using household data from The Financial Supervisory Authority (FI) of Sweden and instrumental variable approach, the study aims to isolate the effect of financial literacy on household wealth accumulation. The results show that people with better understanding of basic and advanced financial concepts are less likely to end up in financial distress and more likely to have higher wealth accumulation. The findings of my study supports the viewpoint that policies aimed towards providing financial education might lower the probability of people encountering financial hardships. (Less)
Please use this url to cite or link to this publication:
author
Raza, Syeda Nida LU
supervisor
organization
course
NEKN01 20231
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Financial Literacy, Household Wealth Accumulation, Financial Literacy Index, Financial Knowledge
language
English
id
9134051
date added to LUP
2023-09-12 15:37:49
date last changed
2023-09-12 15:37:49
@misc{9134051,
  abstract     = {{The objective of this study is to examine the effect of financial literacy on household wealth accumulation among Swedish households. Prior research have suggested that financial literacy plays a significant role in financial decision making. Using household data from The Financial Supervisory Authority (FI) of Sweden and instrumental variable approach, the study aims to isolate the effect of financial literacy on household wealth accumulation. The results show that people with better understanding of basic and advanced financial concepts are less likely to end up in financial distress and more likely to have higher wealth accumulation. The findings of my study supports the viewpoint that policies aimed towards providing financial education might lower the probability of people encountering financial hardships.}},
  author       = {{Raza, Syeda Nida}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Effect of Financial Literacy on Household Wealth Accumulation among Swedish Households}},
  year         = {{2023}},
}