Financial Literacy: Thai Middle Class Women Do Not Lag Behind

53 Pages Posted: 11 Nov 2016

See all articles by Antonia Grohmann

Antonia Grohmann

German Institute for Economic Research (DIW Berlin)

Olaf Hübler

University of Hannover; IZA Institute of Labor Economics

Roy Kouwenberg

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE); Mahidol University - College of Management

Lukas Menkhoff

German Institute for Economic Research (DIW Berlin); Humboldt University of Berlin - Faculty of Economics

Date Written: October 2016

Abstract

This research studies the stylized fact of a “gender gap” in that women tend to have lower financial literacy than men. Our data which samples middle-class people from Bangkok does not show a gender gap. This result is not explained by men’s low financial literacy, nor by women’s high income and good education. Rather, it seems influenced by country characteristics on general gender equality and finance-related equality, such as little gender gaps regarding pupils’ mathematics abilities or secondary school enrollment, and women’s strong role in financial affairs. This may indicate ways to reduce the gender gap in financial literacy elsewhere.

Keywords: financial literacy, financial behavior, gender gap, individual characteristics, societal norms, Thailand

JEL Classification: D14, J16, D91

Suggested Citation

Grohmann, Antonia and Hübler, Olaf and Kouwenberg, Roy R. P. and Menkhoff, Lukas, Financial Literacy: Thai Middle Class Women Do Not Lag Behind (October 2016). DIW Berlin Discussion Paper No. 1615. Available at SSRN: https://ssrn.com/abstract=2867919 or http://dx.doi.org/10.2139/ssrn.2867919

Antonia Grohmann (Contact Author)

German Institute for Economic Research (DIW Berlin) ( email )

Mohrenstraße 58
Berlin, 10117
Germany

Olaf Hübler

University of Hannover ( email )

Institute of Quantitative Economic Research
D-30167 Hannover
Germany
+49 511 762 4794 (Phone)
+49 511 762 3923 (Fax)

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Roy R. P. Kouwenberg

Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) ( email )

P.O. Box 1738
3000 DR Rotterdam, NL 3062 PA
Netherlands

HOME PAGE: http://people.few.eur.nl/kouwenberg

Mahidol University - College of Management ( email )

69 Vipawadee Rangsit Road
Bangkok, 10400
Thailand

HOME PAGE: http://www.cmmu.mahidol.ac.th/main/faculty/aroy.asp

Lukas Menkhoff

German Institute for Economic Research (DIW Berlin) ( email )

Mohrenstraße 58
Berlin, 10117
Germany

Humboldt University of Berlin - Faculty of Economics ( email )

Spandauer Strasse 1
Berlin
Germany

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