Document Type
Conference Paper
RIS ID
13553
Citation
Marcolin, Sonia and Abraham, Anne, 2006, Financial literacy: a growing concern in modern society, in A. Kilgore (Eds.), Proceedings of Asian Academic Accounting Association 7th Annual Conference, Macquarie University, Sydney, 17 - 19 September 2006, 1-29.
http://ro.uow.edu.au/era/2133
Abstract
This paper highlights the ongoing need for financial literacy research in a rapidly changing society with deregulated markets, new financial products, ready availability of credit and an emphasis on self-reliance. A discussion of the importance of financial literacy for both individuals and the economy is followed by a review of studies conducted in Australia, the United States and the United Kingdom. The studies are compared and analysed to determine areas of both commonality and inconsistency. As a result of this analysis, the paper presents recurrent themes that could be extended, together with potential new areas for financial literacy research.