DETERMINANTS OF FINANCIAL LITERACY AMONG THE NATIONAL UNIVERSITY OF LESOTHO STUDENTS
Journal Title: Asian Economic and Financial Review - Year 2015, Vol 5, Issue 9
Abstract
As per the results gender is important in determining the level of financial literacy among NUL students. Consistent with literature, the results indicate that NUL male students are more financially knowledgeable than their female counterparts. This may be due to the fact that male students, on average, are the ones with less fear of engaging in financial commitments like borrowing from informal financial institutions. They, therefore, in the process get to acquire financial knowledge. In the similar vein, major of study by the respondents was also found important in determining the level of financial literacy among NUL students. However, place of residence was found to have little or no impact on the level of financial knowledge. Age was also not found to have a considerable impact on the level of financial literacy among the students. This could be due to the fact that the students, on average, are of the same age category and hence lack of age variation. To bridge the gap between financial literacy level of male and female students as well as business major and non-business major students, the ministry of education and training should consider introducing financial education into the core curriculum of secondary, middle level and higher learning institutions. Over and above improving financial literacy of students in Lesotho, that would also lead into a financially literate nation in the long run, a condition which could spur productive financial climate on a macro level.
Authors and Affiliations
Lereko Rasoaisi| First National Bank, Lesotho, Kalebe M. Kalebe*| Department of Economics, National University of Lesotho
Keywords
Related Articles
- EP ID EP2224
- DOI -
- Views 462
- Downloads 34
DETERMINANTS OF INWARD FDI IN MONGOLIA: AN APPLICATION OF THE ARDL BOUNDS TESTING APPROACH TO COINTEGRATION
The study at hand is the first of its kind that aimed to provide a comprehensive analysis of the determinants of foreign direct investment (FDI) in Mongolia by analyzing their short-run, long-run, and Granger causal rela...
MONETARY POLICY TRANSMISSION AND BANK LENDING IN SOUTH KOREA AND POLICY IMPLICATIONS
This paper tests the bank lending channel for South Korea based on a simultaneous-equation model consisting of the demand for and the supply of bank loans. The three-stage least squares method is employed in empirical wo...
INVESTIGATING THE CAUSAL RELATIONSHIP BETWEEN STOCK MARKET AND AGGREGATE ECONOMIC PERFORMANCE OF SOUTH AFRICA
Stock is one of the key securities traded in the capital markets and as such, has attracted the attention of researchers. While it is said to propel economic activities, empirical studies conducted on different countries...
ARE TUNISIAN AND EGYPTIAN SHARE IPO MARKETS HOT OR COLD?
This paper seeks to detect hot and cold IPO cycles in the Tunisian and Egyptian share market using a Markov regime switching model. Using a set of IPO activity measures (number of IPOs, level of underpricing, market cond...
The Arabo-Mediterranean momentum strategies
This paper documents strong evidence for the robust profitability of the momentum strategies inter and intra five Arabo-Mediterranean stocks’ markets. Between 1998 and 2007 we find that the related stocks’ returns exhibi...