Financial Literacy in Turkey
Ali Coskun · Muhammed Abdullah Sahin · Alperen Zengin
International Journal of Research in Business and Social Science · 2019 · Vol. 8 / Issue 3 · 01-16
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Abstract
We measure the level of financial literacy in Turkey using the OECD/International Network on Financial Education (INFE) methodology and compare our results with the ones obtained in 14 other countries that has used the same methodology. In our sample, financial knowledge and financial behavior levels are lower than the average of the 14 countries, whereas financial attitude level is around the average. The overall financial literacy score, which is a combination of the three aforementioned aspects, is also lower than the average of the 14 countries. We find that financial behavior is positively related with financial knowledge, female respondents are lagging behind the male respondents in financial literacy, and this lag is bigger than those in the 14 countries. Very young respondents and old respondents are less financially literate, financial literacy score is positively related with income, education, and income stability.
Keywords: {'name': 'Financial Awareness'}, {'name': 'Financial Capability'}, {'name': 'Financial Literacy'}, {'name': 'Financial Literacy Score'}
Authors & affiliations
Ali Coskun
Affiliation not supplied
Muhammed Abdullah Sahin
Affiliation not supplied
Alperen Zengin
Affiliation not supplied
Deposited references
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