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Functional illiteracy

About: Functional illiteracy is a research topic. Over the lifetime, 4023 publications have been published within this topic receiving 61894 citations.


Papers
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Journal ArticleDOI
TL;DR: An assessment of a rapidly growing body of economic research on financial literacy and thoughts on what remains to be learned if researchers are to better inform theoretical and empirical models as well as public policy are offered.
Abstract: This paper undertakes an assessment of a rapidly growing body of economic research on financial literacy. We start with an overview of theoretical research which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has important implications for welfare as well as policies intended to enhance levels of financial knowledge in the larger population. Next, we draw on recent surveys to establish how much (or how little) people know and identify the least financially savvy population subgroups. This is followed by an examination of the impact of financial literacy on economic decision-making in the United States and elsewhere. While the literature is still young, conclusions may be drawn about the effects and consequences of financial illiteracy and what works to remedy these gaps. A final section offers thoughts on what remains to be learned if researchers are to better inform theoretical and empirical models as well as public policy.

2,176 citations

Journal ArticleDOI
TL;DR: In this paper, the authors present an assessment of a rapidly growing body of economic research on financial literacy and examine the impact of financial literacy on economic decision-making in the United States and elsewhere.
Abstract: This paper undertakes an assessment of a rapidly growing body of economic research on financial literacy. We start with an overview of theoretical research, which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has important implications for welfare, as well as policies intended to enhance levels of financial knowledge in the larger population. Next, we draw on recent surveys to establish how much (or how little) people know and identify the least financially savvy population subgroups. This is followed by an examination of the impact of financial literacy on economic decision making in the United States and elsewhere. While the literature is still young, conclusions may be drawn about the effects and consequences of financial illiteracy and what works to remedy these gaps. A final section offers thoughts on what remains to be learned if researchers are to better inform theoretical and empirical models as well as public policy. (JEL A20, D14, G11, I20, J26)

1,741 citations

Book
01 Jan 2010
TL;DR: The Spirit Level as discussed by the authors provides hard evidence to show how almost everything -from life expectancy to depression levels, violence to illiteracy - is affected not by how wealthy a society is, but how equal it is; that societies with a bigger gap between rich and poor are bad for everyone in them -including the well-off; and how we can find positive solutions and move towards a happier, fairer future.
Abstract: Why do we mistrust people more in the UK than in Japan? Why do Americans have higher rates of teenage pregnancy than the French? What makes the Swedish thinner than the Greeks? The answer: inequality. This groundbreaking book, based on years of research, provides hard evidence to show: how almost everything - from life expectancy to depression levels, violence to illiteracy - is affected not by how wealthy a society is, but how equal it is; that societies with a bigger gap between rich and poor are bad for everyone in them - including the well-off; and, how we can find positive solutions and move towards a happier, fairer future. Urgent, provocative and genuinely uplifting, "The Spirit Level" has been heralded as providing a new way of thinking about ourselves and our communities, and could change the way you see the world.

1,608 citations

Journal ArticleDOI
TL;DR: In this article, a review reveals that many households are unfamiliar with even the most basic economic concepts needed to make saving and investment decisions, and that financial illiteracy is widespread: the young and older people in the United States and other countries appear woefully under-informed about basic financial computations.
Abstract: Economists are beginning to investigate the causes and consequences of financial illiteracy to better understand why retirement planning is lacking and why so many households arrive close to retirement with little or no wealth. Our review reveals that many households are unfamiliar with even the most basic economic concepts needed to make saving and investment decisions. Such financial illiteracy is widespread: the young and older people in the United States and other countries appear woefully under-informed about basic financial computations, with serious implications for saving, retirement planning, mortgages, and other decisions. In response, governments and several nonprofit organizations have undertaken initiatives to enhance financial literacy. The experience of other countries, including a saving campaign in Japan as well as the Swedish pension privatization program, offers insights into possible roles for financial literacy and saving programs.

1,223 citations

Book
01 Jun 2009
TL;DR: The United Nations Children's Fund (UNICEF) as mentioned in this paper was originally created to provide relief for children in countries devastated by the destruction of World War II, and in 1965, it was awarded the Nobel Prize for Peace for its humanitarian efforts.
Abstract: The United Nations Children's Fund, or UNICEF, was originally created to provide relief for children in countries devastated by the destruction of World War II. After 1950, UNICEF turned to focus on general programs for the improvement of children's welfare worldwide, and in 1965, it was awarded the Nobel Prize for Peace for its humanitarian efforts. The organization concentrates on areas in which relatively small expenditures can have a significant impact on the lives of the most disadvantaged children in developing countries, such as the prevention and treatment of disease, child healthcare, malnutrition, illiteracy, and other welfare services.

1,156 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
2023197
2022447
2021102
2020108
2019138
2018142