Culture, money attitudes and economic outcomes

Details

Serval ID
serval:BIB_738DDC0F9D98
Type
Article: article from journal or magazin.
Collection
Publications
Title
Culture, money attitudes and economic outcomes
Journal
Swiss Journal of Economics and Statistics
Author(s)
Henchoz Caroline, Coste Tristan, Wernli Boris
ISSN
2235-6282
Publication state
Published
Issued date
12/2019
Peer-reviewed
Oui
Volume
155
Number
1
Language
english
Abstract
Using novel survey data, we examine attitudes towards money and to what extent they affect economic outcomes in Switzerland. We find that three main types of attitudes towards money co-exist: the prestige and power attitude, the money management attitude and the goal-oriented attitude. The distribution of these attitudes differs across Switzerland’s linguistic regions; all of them are more significant in the French-speaking part, compared to the German- and Italian-speaking parts of Switzerland.
Attitudes towards money shape financial behaviour, but the relationship varies depending on the type of financial behaviour. Culturally shaped attitudes to money are mostly linked with indebtedness; a finding that could help design better financial literacy programmes.
Open Access
Yes
Create date
15/01/2019 14:43
Last modification date
08/05/2019 20:25
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