Financial literacy and social learning in emerging markets: An agent-based model approach
Author(s)
West, Jason
Griffith University Author(s)
Year published
2011
Metadata
Show full item recordAbstract
Financial literacy is a critical determinant of household well-being. We use an agent-based modelling approach to analyse the impacts of financial literacy programs delivered from sources of varying degrees of credibility through a social network in emerging economies. The simulation results indicate that the social networks of emerging markets rely heavily on source credibility to grow and sustain financial literacy levels. The results illustrate that financial education programs undertaken without regard for the context of the key social networks or source credibility neglect a main source of information flow and validation ...
View more >Financial literacy is a critical determinant of household well-being. We use an agent-based modelling approach to analyse the impacts of financial literacy programs delivered from sources of varying degrees of credibility through a social network in emerging economies. The simulation results indicate that the social networks of emerging markets rely heavily on source credibility to grow and sustain financial literacy levels. The results illustrate that financial education programs undertaken without regard for the context of the key social networks or source credibility neglect a main source of information flow and validation which can lead to program failure.
View less >
View more >Financial literacy is a critical determinant of household well-being. We use an agent-based modelling approach to analyse the impacts of financial literacy programs delivered from sources of varying degrees of credibility through a social network in emerging economies. The simulation results indicate that the social networks of emerging markets rely heavily on source credibility to grow and sustain financial literacy levels. The results illustrate that financial education programs undertaken without regard for the context of the key social networks or source credibility neglect a main source of information flow and validation which can lead to program failure.
View less >
Journal Title
International Journal of Business Policy and Economics
Volume
4
Issue
2
Publisher URI
Subject
Finance