Title: A comparative hierarchical analysis of financial literacy using three waves of PISA survey
Authors: Mariangela Zenga - Universita degli Studi di Milano-Bicocca (Italy) [presenting]
Adele Marshall - Queens University Belfast (United Kingdom)
Abstract: Over the past few decades, financial literacy has emerged as a key objective among policymakers in several countries. The PISA survey measures and compares the level of financial literacy skills of young people (adolescent students) in different countries through three waves in 2012, 2015 and 2018. Using the comparisons of hierarchical models, we are able to explain differences in the level of financial literacy across countries considering the three waves of the PISA survey, given the characteristics of the students, their families and the structure of financial education and policies in the countries.