Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/238454 
Year of Publication: 
2020
Series/Report no.: 
ADBI Working Paper Series No. 1097
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
Given its role in affecting financial behavior, financial literacy has received considerable attention from researchers and policy makers alike. This paper employs data from a nationally representative survey in Indonesia to investigate the impact of financial literacy on poverty, which is a downstream welfare indicator. Consequently, we have constructed a composite financial literacy index. Our results reveal that financial literacy plays an important role in reducing poverty. This finding is robust, irrespective of the measure of financial literacy and regardless of the instrumentalization strategy adopted.
Subjects: 
financial literacy
poverty
developing countries
JEL: 
G530
I320
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

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