LOWER FINANCIAL LITERACY INDUCES USE OF INFORMAL LOANS

dc.creatorSantos, Danilo Braun [UNIFESP]
dc.creatorMendes-Da-Silva, Wesley
dc.creatorGonzalez, Lauro
dc.date.accessioned2020-07-02T18:51:55Z
dc.date.accessioned2023-09-04T19:18:09Z
dc.date.available2020-07-02T18:51:55Z
dc.date.available2023-09-04T19:18:09Z
dc.date.created2020-07-02T18:51:55Z
dc.date.issued2018
dc.identifierRae-Revista De Administracao De Empresas. Sao Paulo Sp, v. 58, n. 1, p. 44-59, 2018.
dc.identifier0034-7590
dc.identifierhttps://repositorio.unifesp.br/handle/11600/53770
dc.identifierWOS000429414000004.pdf
dc.identifier10.1590/S0034-759020180104
dc.identifierWOS:000429414000004
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/8625021
dc.description.abstractFinance literature documents associations between a family's financial literacy and its propensity to borrow. However, most studies focus exclusively on formal loan markets. Based on 2,023 observations about financial behavior of Brazilian families, we examined the impacts of financial literacy on informal borrowing, such as loans from friends or moneylenders. Using multinomial logit models, we compared financial literacy's effects on the propensity to take informal loans between families that did not borrow at all and those who took bank loans. Financial literacy is measured by the investment in capitalization bonds, a financial instrument in the Brazilian market. The results suggest that financial literacy's relevance to informal loans may exceed that for formal credit channels.
dc.languageeng
dc.publisherFundacao Getulio Vargas
dc.relationRae-Revista De Administracao De Empresas
dc.rightsAcesso aberto
dc.subjectLoan
dc.subjectinformal loan
dc.subjectfinancial literacy
dc.subjectcapitalization bond
dc.subjectbehavioral finance
dc.titleLOWER FINANCIAL LITERACY INDUCES USE OF INFORMAL LOANS
dc.typeArtigo


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