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Bucher-Koenen, T., Knebel, C. Finanzwissen und Finanzbildung in Deutschland – Was wissen wir eigentlich?. Vierteljahrshefte zur Wirtschaftsforschung, 90(1), 11-32. https://doi.org/10.3790/vjh.90.1.11
Bucher-Koenen, Tabea and Knebel, Caroline "Finanzwissen und Finanzbildung in Deutschland – Was wissen wir eigentlich?" Vierteljahrshefte zur Wirtschaftsforschung 90.1, 2021, 11-32. https://doi.org/10.3790/vjh.90.1.11
Bucher-Koenen, Tabea/Knebel, Caroline (2021): Finanzwissen und Finanzbildung in Deutschland – Was wissen wir eigentlich?, in: Vierteljahrshefte zur Wirtschaftsforschung, vol. 90, iss. 1, 11-32, [online] https://doi.org/10.3790/vjh.90.1.11

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Finanzwissen und Finanzbildung in Deutschland – Was wissen wir eigentlich?

Bucher-Koenen, Tabea | Knebel, Caroline

Vierteljahrshefte zur Wirtschaftsforschung, Vol. 90 (2021), Iss. 1 : pp. 11–32

4 Citations (CrossRef)

Additional Information

Article Details

Author Details

Tabea Bucher-Koenen, Universität Mannheim, ZEW und MEA

Caroline Knebel, Goethe-Universität Frankfurt und ZEW

Cited By

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    SSRN Electronic Journal , Vol. (2021), Iss.

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    https://doi.org/10.1007/s12232-023-00432-9 [Citations: 0]

References

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  49. Bucher-Koenen, Tabea, Annamaria Lusardi, Rob Alessie und Maarten Van Rooij (2017): How Financially Literate Are Women? An Overview and New Insights. The Journal of Consumer Affairs, 51 (2), 255 – 283.  Google Scholar
  50. Demirguc-Kunt, Asli, Leora Klapper, Dorothe Singer und Peter Van Oudheusden, (2015): The Global Findex Database 2014: Measuring Financial Inclusion around the World. World Bank Policy Research Working Paper 7255.  Google Scholar
  51. Deuflhard, Florian, Dimitris Georgarakos und Roman Inderst (2019): Financial Literacy and Savings Account Returns. Journal of the European Economic Association, 17 (1), 131 – 164.  Google Scholar
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  55. Gaudecker, Hans-Martin von (2015): How Does Household Portfolio Diversification Vary with Financial Literacy and Financial Advice? The Journal of Finance, 70 (2), 489 – 507.  Google Scholar
  56. Kaiser, Tim, Annamaria Lusardi, Lukas Menkhoff und Carly Urban (2020): Financial Education Affects Financial Knowledge and Downstream Behaviors. NBER Working Paper Series, No. 27057.  Google Scholar
  57. Kaiser, Tim und Lukas Menkhoff (2017): Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When? The World Bank Economic Review, 31 (3), 611 – 630.  Google Scholar
  58. Kaiser, Tim und Lukas Menkhoff (2020): Financial Education in Schools: A Meta-Analysis of Experimental Studies. Economics of Education Review, 78, 101930.  Google Scholar
  59. Kaminski, Hans und Stephan Friebel (2012): Finanzielle Allgemeinbildung als Bestandteil der ökonomischen Bildung. Arbeitspapier Juli 2012.  Google Scholar
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  61. Klapper, Leora, Annamaria Lusardi und Peter Van Oudheusenden (2015): Financial Literacy Around the World: Insights from the Standard & Poor’s Ratings Services Global Financial Literacy Survey.  Google Scholar
  62. Kultusministerkonferenz (2008): Wirtschaftliche Bildung an allgemein bildenden Schulen – Bericht der Kultusministerkonferenz vom 19. 10. 2001 i. d. F. vom 27. 06. 2008. Hrsg.: Sekretariat der Ständigen Konferenz der Kultusminister der Länder in der Bundesrepublik Deutschland. (https://www.kmk.org/fileadmin/veroeffentlichungen_beschluesse/2001/2001_10_19_Wirtschaftl_Bildung.pdf).  Google Scholar
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  66. Lusardi, Annamaria und Olivia S. Mitchell (2008): Planning and Financial Literacy: How Do Women Fare? American Economic Review: Papers & Proceedings, 98 (2), 413 – 417.  Google Scholar
  67. Lusardi, Annamaria und Olivia S. Mitchell (2011a): Financial Literacy and Planning: Implications for Retirement Wellbeing. In: Olivia S. Mitchell and Annamaria Lusardi (Hrsg.), Financial Literacy: Implications for Retirement Security and the Financial Marketplace. Oxford: Oxford University Press, 17 – 49.  Google Scholar
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  69. Lusardi, Annamaria und Olivia S. Mitchell (2014): The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52 (1), 5 – 44.  Google Scholar
  70. Lusardi, Annamaria und Olivia S. Mitchell (2017): How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness. Quarterly Journal of Finance, 7 (3), 1 – 31.  Google Scholar
  71. Lusardi, Annamaria, Olivia S. Mitchell und Noemi Oggero (2020): Debt and Financial Vulnerability on the Verge of Retirement. Journal of Money, Credit and Banking, 52 (5), 1005 – 1034.  Google Scholar
  72. OECD (2005): Improving Financial Literacy – Analysis of Issues and Policies.  Google Scholar
  73. OECD (2016): OECD/INFE International Survey of Adult Financial Literacy Competencies.  Google Scholar
  74. OECD (2017): G20/OECD INFE Report on Adult Financial Literacy in G20 Countries.  Google Scholar
  75. OECD (2018): OECD/INFE Toolkit for Measuring Financial Literacy and Financial Inclusion.  Google Scholar
  76. OECD (2019): Smarter Financial Education: Key Lessons from Behavioral Insights for Financial Literacy Initiatives.  Google Scholar
  77. OECD (2020a): Recommendation of the Council on Financial Literacy, OECD/LEGAL/0461.  Google Scholar
  78. OECD (2020b): OECD/INFE 2020 International Survey of Adult Financial Literacy.  Google Scholar
  79. Schmidt, Tobias und Panagiota Tzamourani (2017): Zur finanziellen Bildung der privaten Haushalte in Deutschland: Ausgewählte Ergebnisse aus der Studie „Private Haushalte und ihre Finanzen (PHF)“. Vierteljahrshefte zur Wirtschaftsforschung, 86 (4), 31 – 49.  Google Scholar
  80. Van Rooij, Maarten, Annamaria Lusardi und Rob Alessie (2011): Financial Literacy and Stock Market Participation. Journal of Financial Economics, 102 (2), 449 – 472.  Google Scholar
  81. Van Rooij, Maarten, Annamaria Lusardi und Rob Alessie (2012): Financial Literacy, Retirement Planning and Household Wealth. The Economic Journal, 122 (560), 449 – 478.  Google Scholar
  82. Weber, Birgit (2017): Finanzielle Bildung in der Sekundarstufe I: curriculare Verankerung und Herausforderungen. Vierteljahrshefte zur Wirtschaftsforschung, 86 (3), 27 – 39.  Google Scholar
  83. Atkinson, Adele und Flore-Anne Messy (2012): Measuring Financial Literacy: Results of the OECD/International Network on Financial Education (INFE) Pilot Study. OECD Working Papers on Finance, Insurance and Private Pensions, No. 15, OECD Publishing, Paris.  Google Scholar
  84. Bannier, Christina E. und Milena Neubert (2016): Gender Differences in Financial Risk Taking: The Role of Financial Literacy and Risk Tolerance. Economics Letters 145, 130 – 135.  Google Scholar
  85. Bannier, Christina E. und Milena Schwarz (2018): Gender- and Education-Related Effects of Financial Literacy and Confidence on Financial Wealth. Journal of Economic Psychology, 67, 66 – 86.  Google Scholar
  86. Börsch-Supan, Axel, Tabea Bucher-Koenen, Michela Coppola und Bettina Lamla (2015): Savings in Times of Demographic Change: Lessons from the German Experience. Journal of Economic Surveys, 29 (4), 807 – 829.  Google Scholar

Abstract

In an international comparison, Germans have a relatively high level of financial knowledge. However, this does not imply that financial knowledge is universally distributed. The share of respondents, who are able to answer three basic questions about interest rate, inflation, and risk diversification correctly, lies between 53 % and 62 %. Among women, older individuals, and people with low income or low education, this share is substantially lower. Research has shown that financial knowledge positively affects financial decision-making. Furthermore, financial education programs can enhance financial knowledge and behavior. In Germany, no broad financial literacy strategy exists and, therefore, no targeted evaluations and quality assurance measures for programs are in place. Such a strategy could improve people’s financial decisions as well as the overall financial stability.