Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/68696
Authors: 
Bönte, Werner
Filipiak, Ute
Year of Publication: 
2011
Series/Report no.: 
Schumpeter Discussion Papers 2011-014
Abstract: 
This paper empirically investigates the relevance of social interaction and caste affiliation for individual awareness of financial instruments and investment behavior in India. The results of our empirical analysis, which is based on a large scale survey on saving patterns of Indians, suggest a positive relationship between financial knowledge and social interaction. However, especially backward caste people living in regions with a large fraction of backward castes have a lower probability of being aware of various financial instruments. In contrast, we find only weak empirical evidence for a direct effect of caste affiliation and social interaction on investment behavior.
Subjects: 
Financial Literacy
Social Interaction
Social Networks
Indian Castes
JEL: 
G11
G14
R2
Z1
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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