Bücher, Buchbeiträge, Journals und Papers
Detailansicht
Aida Ćumurović, Walter Hyll
Financial Literacy and Self‐Employment
In this paper, we study the relationship between financial literacy and self‐employment. We use established financial literacy
questions to measure literacy levels. The analysis shows a highly significant and positive correlation between the index and
self‐employment. We address the direction of causality by applying instrumental variable techniques based on information about
maternal education. We also exploit information on financial support and family background to account for concerns about the
exclusion restriction. The results provide support for a positive effect of financial literacy on the probability of being
self‐employed. As financial literacy is acquirable, the findings suggest that entrepreneurial activities might be increased
by enhancing financial literacy.
Keywords:Financial literacy
Forschungsbereich:Arbeitsmarktökonomie, Einkommen und soziale Sicherheit
Sprache:Englisch