Are there urban-rural gaps in Spaniards financial knowledge?
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| Title: | Are there urban-rural gaps in Spaniards financial knowledge? |
|---|---|
| Authors: | Oliver-Márquez, Francisco J.1,2 (AUTHOR) fjom93@gmail.com, Guarnido-Rueda, Almudena3 (AUTHOR) guarnido@ual.es, Amate-Fortes, Ignacio3 (AUTHOR) iamate@ual.es |
| Source: | Journal of Rural Studies. Jan2021, Vol. 81, p363-373. 11p. |
| Subject Terms: | *Age groups, *Cities & towns, Spaniards, Financial markets, Consumer price indexes, Socioeconomic factors, Consumer confidence |
| Abstract: | Our objective is to analyze whether there are urban-rural gaps in financial knowledge of Spanish people. For this purpose, we use data from the Survey of Financial Competences conducted by the Bank of Spain and the Spanish National Securities Market Commission on a representative sample of the Spanish population aged between 18 and 79 during the last quarter of 2016 and the first half of 2017. From this microdata base, we estimate qualitative response models in which each of the dimensions of financial knowledge (inflation, compound interest and risk diversification) acts as dependent variable on a set of explanatory variables. Among the latter is one that measures whether the respondent lives in an urban or rural area. Our results reveal that there are urban-rural gaps in the financial knowledge of Spaniards over 39 years old. We also find conclusive results about the effect of other socioeconomic factors on the financial knowledge of Spaniards. Thus, the probability of being financially illiterate is higher for those who are women and have low income and low educational attainment. Meanwhile, being born in another country, self-confidence, and contracting financial products are all of them factors that have positive implications for financial knowledge of Spanish population. • We analyze the existence of urban-rural gaps in Spaniards' financial knowledge; issue which is not sufficiently explored. • As an additional novelty, we conduct our analysis by looking at three different age groups (18-39; 40-64; 65-79). • Our results reveal that there are urban-rural gaps in Spaniards' financial knowledge. • We also shed light on factors influencing Spaniards' financial knowledge beyond living in rural or urban areas. [ABSTRACT FROM AUTHOR] |
| Copyright of Journal of Rural Studies is the property of Pergamon Press - An Imprint of Elsevier Science and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Education Research Complete |
| FullText | Text: Availability: 0 |
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| Header | DbId: ehh DbLabel: Education Research Complete An: 148075324 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Are there urban-rural gaps in Spaniards financial knowledge? – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Oliver-Márquez%2C+Francisco+J%2E%22">Oliver-Márquez, Francisco J.</searchLink><relatesTo>1,2</relatesTo> (AUTHOR)<i> fjom93@gmail.com</i><br /><searchLink fieldCode="AR" term="%22Guarnido-Rueda%2C+Almudena%22">Guarnido-Rueda, Almudena</searchLink><relatesTo>3</relatesTo> (AUTHOR)<i> guarnido@ual.es</i><br /><searchLink fieldCode="AR" term="%22Amate-Fortes%2C+Ignacio%22">Amate-Fortes, Ignacio</searchLink><relatesTo>3</relatesTo> (AUTHOR)<i> iamate@ual.es</i> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Journal+of+Rural+Studies%22">Journal of Rural Studies</searchLink>. Jan2021, Vol. 81, p363-373. 11p. – Name: Subject Label: Subject Terms Group: Su Data: *<searchLink fieldCode="DE" term="%22Age+groups%22">Age groups</searchLink><br />*<searchLink fieldCode="DE" term="%22Cities+%26+towns%22">Cities & towns</searchLink><br /><searchLink fieldCode="DE" term="%22Spaniards%22">Spaniards</searchLink><br /><searchLink fieldCode="DE" term="%22Financial+markets%22">Financial markets</searchLink><br /><searchLink fieldCode="DE" term="%22Consumer+price+indexes%22">Consumer price indexes</searchLink><br /><searchLink fieldCode="DE" term="%22Socioeconomic+factors%22">Socioeconomic factors</searchLink><br /><searchLink fieldCode="DE" term="%22Consumer+confidence%22">Consumer confidence</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: Our objective is to analyze whether there are urban-rural gaps in financial knowledge of Spanish people. For this purpose, we use data from the Survey of Financial Competences conducted by the Bank of Spain and the Spanish National Securities Market Commission on a representative sample of the Spanish population aged between 18 and 79 during the last quarter of 2016 and the first half of 2017. From this microdata base, we estimate qualitative response models in which each of the dimensions of financial knowledge (inflation, compound interest and risk diversification) acts as dependent variable on a set of explanatory variables. Among the latter is one that measures whether the respondent lives in an urban or rural area. Our results reveal that there are urban-rural gaps in the financial knowledge of Spaniards over 39 years old. We also find conclusive results about the effect of other socioeconomic factors on the financial knowledge of Spaniards. Thus, the probability of being financially illiterate is higher for those who are women and have low income and low educational attainment. Meanwhile, being born in another country, self-confidence, and contracting financial products are all of them factors that have positive implications for financial knowledge of Spanish population. • We analyze the existence of urban-rural gaps in Spaniards' financial knowledge; issue which is not sufficiently explored. • As an additional novelty, we conduct our analysis by looking at three different age groups (18-39; 40-64; 65-79). • Our results reveal that there are urban-rural gaps in Spaniards' financial knowledge. • We also shed light on factors influencing Spaniards' financial knowledge beyond living in rural or urban areas. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Journal of Rural Studies is the property of Pergamon Press - An Imprint of Elsevier Science and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
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| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1016/j.jrurstud.2020.11.002 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 11 StartPage: 363 Subjects: – SubjectFull: Age groups Type: general – SubjectFull: Cities & towns Type: general – SubjectFull: Spaniards Type: general – SubjectFull: Financial markets Type: general – SubjectFull: Consumer price indexes Type: general – SubjectFull: Socioeconomic factors Type: general – SubjectFull: Consumer confidence Type: general Titles: – TitleFull: Are there urban-rural gaps in Spaniards financial knowledge? Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Oliver-Márquez, Francisco J. – PersonEntity: Name: NameFull: Guarnido-Rueda, Almudena – PersonEntity: Name: NameFull: Amate-Fortes, Ignacio IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 01 Text: Jan2021 Type: published Y: 2021 Identifiers: – Type: issn-print Value: 07430167 Numbering: – Type: volume Value: 81 Titles: – TitleFull: Journal of Rural Studies Type: main |
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