Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/175077 
Year of Publication: 
2018
Series/Report no.: 
DIW Discussion Papers No. 1720
Publisher: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Abstract: 
Despite considerable policy efforts, women continue to be underrepresented in positions of power and decision making. As an important aspect of women empowerment, we examine women's participation in intrahousehold financial decision making and how this is affected by financial literacy. Using both OLS and IV regression analysis, we show that women with higher financial literacy are more involved in household financial decisions. In line with the literature, we further find that women are less financially literate than men. Results from decomposition analysis show that education and personality traits (openness, happiness, and depression) drive this financial literacy gender gap.
Subjects: 
financial literacy
women empowerment
intra-household decision making
JEL: 
D14
J16
G02
Document Type: 
Working Paper

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