María Jesús Mancebón-Torrubia|Domingo Ximénez-de-Embún|Mauro Mediavilla|José?María Gómez?Sancho
Factors that influence the financial literacy of young Spanish consumers
Universidad de Zaragoza|Universidad de Zaragoza|Universitat de València|Universidad de Zaragoza
abstract study examines development mathematical financial literacy skills amongst 471 students spain studies topic looked either one skill examined relationship two use simultaneous equations enabled us aim paper disentangle factors determining financial skills young consumers spain pisa financial literacy assessment conducted oecd 2012 used papers main contribution lies methodological way deal empirical challenges overshadowing study particularly methodological strategy defined application multilevel model simultaneous equations msiem method allows us take account simultaneous determination math financial skills school nested structure database msiem permits identification determinants financial skills differentiating influences operating school level student level first conclusion development financial abilities young consumers mediated mathematical skills second conclusion accordance international studies importance family financial literacy 15yearold spanish students family firstorder determinant reading science math scores also key variable development financial skills finally school type public vs private display effect either financial math performance spanish young people