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Political participation and financial education: understanding personal and collective tradeoffs for a better citizenship

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Abstract
The paper documents a positive association between political participation, measured by the number of citizens voting at national elections, and awareness of the tradeoffs behind both private and public decisions that indicators of basic financial education can capture. The association is robust to the inclusion of a range of controls, stronger for the most difficult concepts of risk diversification and interest compounding, and consistent with the hypothesis that in countries where financial education is higher due to national cultural traits, voter turnout at national elections is higher.

Suggested Citation

  • Lo Prete, Anna, 2024. "Political participation and financial education: understanding personal and collective tradeoffs for a better citizenship," Department of Economics and Statistics Cognetti de Martiis. Working Papers 202418, University of Turin.
    • Handle: RePEc:uto:dipeco:202418
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    References listed on IDEAS

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    1. Fornero, Elsa & Lo Prete, Anna, 2019. "Voting in the aftermath of a pension reform: the role of financial literacy," Journal of Pension Economics and Finance, Cambridge University Press, vol. 18(1), pages 1-30, January.
    2. Fumagalli, Eileen & Narciso, Gaia, 2012. "Political institutions, voter turnout, and policy outcomes," European Journal of Political Economy, Elsevier, vol. 28(2), pages 162-173.
    3. Anna Lo Prete, 2018. "Inequality and the finance you know: does economic literacy matter?," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 35(1), pages 183-205, April.
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