Research Team for Social Participation and Community Health, Tokyo Metropolitan Institute of Gerontology, Itabashi-ku, Tokyo, Japan.
Institute for Global Health Policy Research, National Center for Global Health and Medicine, Shinjuku-ku, Tokyo, Japan.
PLoS One. 2021 Nov 17;16(11):e0259393. doi: 10.1371/journal.pone.0259393. eCollection 2021.
The aim of this study is to investigate the association between financial literacy and age as well as gender differences in financial literacy.
We analyse a sample of 25,000 individuals from 'The Financial Literacy Survey 2016' conducted by the Central Council for Financial Services Information (Bank of Japan). The analysis focuses on the relationship of age and financial literacy as well as that of age and self-rated financial knowledge. To consider factors accounting for gender differences in financial literacy, we use the Blinder-Oaxaca decomposition method. To further our understanding of financial literacy, we conduct additional analyses on financial behaviour and attitude.
Although age is associated with increased financial literacy (Men, β: 0.249, standard error [SE]: 0.030; Women, 0.354, SE: 0.026), the growth rate decreases among the older respondents (Men, β: -0.002, SE: 0.000; Women, -0.003, SE: 0.000). However, the association between age and self-rated financial knowledge among men moves in the opposite direction (Age, β: -0.021, SE: 0.009, Age2, β: 0.000, SE: 0.000). Furthermore, female respondents are likely to be less financially literate than their male counterparts (β: -0.586, SE: 0.095) due to gender differences in the distribution of the factors that affect financial literacy (specifically education), their responses to financial literacy, and the interactions of these effects. In contrast to knowledge-based financial literacy, financial behaviour and attitudes among women are more preferable to those among men, namely, more premeditated.
Financial literacy increases until about one's early 60s, after which it declines, while confidence in financial literacy reflects the inverse trend, especially among men. Additionally, men are more financially literate than women; however, these differences could be mitigated through education. Meanwhile, financial behaviour and attitudes among men are less premeditated. Thus, policies are needed that can help older adults with their financial decision-making, enhance women's financial literacy, and improve men's financial behaviours and attitudes.
本研究旨在探讨金融知识与年龄和性别差异之间的关系。
我们分析了日本银行中央金融服务信息理事会（Bank of Japan）进行的“2016 年金融知识调查”中 25000 名个体的数据。该分析侧重于年龄与金融知识之间的关系，以及年龄与自我评估的金融知识之间的关系。为了考虑金融知识方面性别差异的因素，我们使用了 Blinder-Oaxaca 分解方法。为了进一步了解金融知识，我们对金融行为和态度进行了额外的分析。
尽管年龄与金融知识的增长呈正相关（男性，β：0.249，标准误差 [SE]：0.030；女性，0.354，SE：0.026），但年长受访者的增长率在下降（男性，β：-0.002，SE：0.000；女性，-0.003，SE：0.000）。然而，男性的年龄与自我评估的金融知识之间的关系呈相反方向（年龄，β：-0.021，SE：0.009，年龄平方，β：0.000，SE：0.000）。此外，由于影响金融知识的因素（特别是教育）的分布、对金融知识的反应以及这些影响的相互作用存在性别差异，女性可能比男性的金融知识水平低（β：-0.586，SE：0.095）。与基于知识的金融知识相比，女性的金融行为和态度更受青睐，即更有预谋。
金融知识的增长一直持续到 60 岁左右，之后开始下降，而对金融知识的信心则呈现相反的趋势，尤其是在男性中。此外，男性比女性的金融知识水平更高；然而，这些差异可以通过教育来缓解。同时，男性的金融行为和态度不太有预谋。因此，需要制定政策来帮助老年人做出财务决策，提高女性的金融知识水平，并改善男性的金融行为和态度。
