Luc Arrondel
Financial Literacy and French Behaviour on the Stock Market
Paris School of Economics|French National Centre for Scientific Research
article looks back different dimensions financial literacy theoretical methodological empirical political theoretical foundations notion financial literacy presented reference recent contributions psychological behavioural economics household finance refers concept financial literacy based empirical deadends standard saver theory raises fundamental question measure evaluate financial literacy especially interested empirical robustness standard measure financial literacy based three straightforward questions interest calculations notion inflation risk diversification measure adequate definitions need developed use original data survey conducted 2017 proposes alternative measures results show measure studies seems good proxy global measure based larger battery similar questions nevertheless global measure improves statistical quality measure even though sophisticated measure statistically significantly improve behavioural regressions