Advancements in information and communications technologies have changed the way individuals, firms, and nations create and exchange value across borders. Value comes in the form of goods, services, information, and data, but may also include talent, capital, ideas, and even culture. Southeast Asia is a thriving digital economy with the prospect of becoming a US$200B economy by 2025. However, new forms of protectionist measures arise, which may impede the free flow of value within the region. An aspirational digital single market concept and the changing dynamics of digital trade are explored. A digital economic integration framework that is interoperable, inclusive, and agile is proposed to address both barriers to the creation of an ASEAN digital single market. Requisite conditions for policy solutions are identified, and an empowered digital transformation board with the task of leading the change agenda is proposed as a critical governance enabler across the region.
{"title":"An ASEAN Digital Single Market: Boosting the Aspiration for a Single Market in the Digital Era","authors":"P. J. Pena","doi":"10.2139/ssrn.3597430","DOIUrl":"https://doi.org/10.2139/ssrn.3597430","url":null,"abstract":"Advancements in information and communications technologies have changed the way individuals, firms, and nations create and exchange value across borders. Value comes in the form of goods, services, information, and data, but may also include talent, capital, ideas, and even culture. Southeast Asia is a thriving digital economy with the prospect of becoming a US$200B economy by 2025. However, new forms of protectionist measures arise, which may impede the free flow of value within the region. An aspirational digital single market concept and the changing dynamics of digital trade are explored. A digital economic integration framework that is interoperable, inclusive, and agile is proposed to address both barriers to the creation of an ASEAN digital single market. Requisite conditions for policy solutions are identified, and an empowered digital transformation board with the task of leading the change agenda is proposed as a critical governance enabler across the region.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134355468","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-04-30DOI: 10.34218/jom.6.2.2019.025
Ranjani Matta, Dr. Javaid Akhter, Dr. P. Malarvizhi
This research paper focuses on the current environmental management practices and captures the perception of corporate managers on environmental reporting through a structured questionnaire to understand the factors impacting companies in disclosing environmental information. The data for this research was collected through a questionnaire survey. Analysis of the responses indicates long-term survival, reduction in waste and improved efficiency’ and acknowledging social responsibility as the top reasons for disclosure. Avoid providing sensitive and confidential information, no legal requirement to report and avoid possible damage to company’s reputation were the reasons preventing an organisation from making disclosures. Overall, the findings suggest that the perceptions of both ‘reporter’ and ‘non-reporter’ are similar indicating the existence of other factors that impact disclosure. The findings support both the legitimacy and stakeholder theory as organisations strive for long-term survival and aspire to have a better corporate image.
{"title":"Managers’ Perception on Factors Impacting Environmental Disclosure","authors":"Ranjani Matta, Dr. Javaid Akhter, Dr. P. Malarvizhi","doi":"10.34218/jom.6.2.2019.025","DOIUrl":"https://doi.org/10.34218/jom.6.2.2019.025","url":null,"abstract":"This research paper focuses on the current environmental management practices and captures the perception of corporate managers on environmental reporting through a structured questionnaire to understand the factors impacting companies in disclosing environmental information. The data for this research was collected through a questionnaire survey. Analysis of the responses indicates long-term survival, reduction in waste and improved efficiency’ and acknowledging social responsibility as the top reasons for disclosure. Avoid providing sensitive and confidential information, no legal requirement to report and avoid possible damage to company’s reputation were the reasons preventing an organisation from making disclosures. Overall, the findings suggest that the perceptions of both ‘reporter’ and ‘non-reporter’ are similar indicating the existence of other factors that impact disclosure. The findings support both the legitimacy and stakeholder theory as organisations strive for long-term survival and aspire to have a better corporate image.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116244060","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Middle East and North Africa region is arguably the most politically volatile and food insecure area on earth. The sum of civil disruption and endemic food-security constraints has reduced many MENA nations to the equivalent of small, import-dependent countries, regardless of population. Such countries are especially vulnerable to commodity-price volatiltity, the focus of this paper. As MENA countries begin to arise from civil strife, they must attempt to diminish the food-price risk that results from import dependence. This paper describes a constrained-optimization model that can produce optimal domestically-source commodity portfolios for re-emerging MENA agricultural sectors, nested in domestic production and strategic storage. The model is driven by the use of financial-economics concepts to inform a representation of commodity-price volatility.
{"title":"Optimal Domestically-Sourced Commodity Portfolios for Re-Emerging Civil-Strife-Torn MENA Agriculture Sectors","authors":"David G. Raboy","doi":"10.2139/ssrn.3378850","DOIUrl":"https://doi.org/10.2139/ssrn.3378850","url":null,"abstract":"The Middle East and North Africa region is arguably the most politically volatile and food insecure area on earth. The sum of civil disruption and endemic food-security constraints has reduced many MENA nations to the equivalent of small, import-dependent countries, regardless of population. Such countries are especially vulnerable to commodity-price volatiltity, the focus of this paper. As MENA countries begin to arise from civil strife, they must attempt to diminish the food-price risk that results from import dependence. This paper describes a constrained-optimization model that can produce optimal domestically-source commodity portfolios for re-emerging MENA agricultural sectors, nested in domestic production and strategic storage. The model is driven by the use of financial-economics concepts to inform a representation of commodity-price volatility.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"96 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132094165","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
New Zealand is facing a challenging low-emission transition, and effective emission pricing needs to be part of the solution. In its pure form, an emissions trading system (ETS) fixes the quantity of emissions in regulated sectors and the market sets the emission price. In New Zealand’s current policy and market context, there is value in managing both unit supply and emission prices under the NZ ETS. While emission price changes in response to policy and market conditions are desirable to drive efficient abatement, excessive price instability can deter low-emission investment. This working paper, which evolved under Motu’s ETS Dialogue process from 2016 to 2018, explores key considerations for emission price management in the context of a specific working model for unit supply in the NZ ETS. Emission price instability can be reduced at its source by reinforcing policy commitment and improving market regulation and development. Emission price instability can be mitigated by incorporating a price ceiling (cost containment reserve backed by a fixed-price option) and a price floor (auction reserve price) into the auction mechanism. Decisions on price management should be coordinated with other decisions affecting unit supply, guided by an indicative ten-year trajectory for both unit supply and emission prices, and informed by independent advice. Two companion working papers address interactions between ETS price management and the choice of cap and linking to overseas markets. The three working papers elaborate on an integrated proposal for managing unit supply, prices, and linking in the NZ ETS that was presented in Kerr et al. (2017).
{"title":"Uncertainty, Risk and Investment and the NZ ETS","authors":"Suzi Kerr, Catherine Leining","doi":"10.2139/ssrn.3477062","DOIUrl":"https://doi.org/10.2139/ssrn.3477062","url":null,"abstract":"New Zealand is facing a challenging low-emission transition, and effective emission pricing needs to be part of the solution. In its pure form, an emissions trading system (ETS) fixes the quantity of emissions in regulated sectors and the market sets the emission price. In New Zealand’s current policy and market context, there is value in managing both unit supply and emission prices under the NZ ETS. While emission price changes in response to policy and market conditions are desirable to drive efficient abatement, excessive price instability can deter low-emission investment. This working paper, which evolved under Motu’s ETS Dialogue process from 2016 to 2018, explores key considerations for emission price management in the context of a specific working model for unit supply in the NZ ETS. Emission price instability can be reduced at its source by reinforcing policy commitment and improving market regulation and development. Emission price instability can be mitigated by incorporating a price ceiling (cost containment reserve backed by a fixed-price option) and a price floor (auction reserve price) into the auction mechanism. Decisions on price management should be coordinated with other decisions affecting unit supply, guided by an indicative ten-year trajectory for both unit supply and emission prices, and informed by independent advice. Two companion working papers address interactions between ETS price management and the choice of cap and linking to overseas markets. The three working papers elaborate on an integrated proposal for managing unit supply, prices, and linking in the NZ ETS that was presented in Kerr et al. (2017).","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"74 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134341953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We devise an integrated estimate of country-to-country cross-border human mobility on the basis of global statistics on tourism and air passenger traffic. The joint use of these two sources allows us to (a) test for their relative contribution, and (b) correct for their limitations to the estimate of global mobility by combining them. The two sources are adjusted and merged following simple procedures. The resulting dataset, which covers more than 15 billion estimated trips over the years 2011 to 2016, promises to be a systematic and comprehensive resource on transnational human mobility worldwide. In this paper, we illustrate the data characteristics and transformations adopted in creating this dataset. First applications are explored, and its remaining limits are discussed.
{"title":"Estimating Transnational Human Mobility on a Global Scale","authors":"E. Recchi, E. Deutschmann, M. Vespe","doi":"10.2139/ssrn.3384000","DOIUrl":"https://doi.org/10.2139/ssrn.3384000","url":null,"abstract":"We devise an integrated estimate of country-to-country cross-border human mobility on the basis of global statistics on tourism and air passenger traffic. The joint use of these two sources allows us to (a) test for their relative contribution, and (b) correct for their limitations to the estimate of global mobility by combining them. The two sources are adjusted and merged following simple procedures. The resulting dataset, which covers more than 15 billion estimated trips over the years 2011 to 2016, promises to be a systematic and comprehensive resource on transnational human mobility worldwide. In this paper, we illustrate the data characteristics and transformations adopted in creating this dataset. First applications are explored, and its remaining limits are discussed.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128806245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Proponents often explain support for international investment agreements (IIAs) for their ability to:
(1) promote investment flows;
(2) depoliticize disputes between investors and states;
(3) promote the rule of law; and
(4) provide compensation for certain harms to investors – objectives of varying degrees of importance to multinational enterprises, home states, host states, and other stakeholders.
While each of these objectives may seem desirable, it is important to consider what exactly they mean and whether IIAs are optimally tailored to achieve them.
This two-part series aims to consider just that. In the first blog installment, we asked of investor-state dispute settlement: What Are We Trying to Achieve? Does ISDS Get Us There?
To follow up, in this Working Paper we’ve considered a number of alternative tools that, when used alone or in combination, might better serve the above objectives as well as the goals of sustainable development more generally.
{"title":"Alternatives to Investor-State Dispute Settlements","authors":"Lise Johnson, J. Coleman, B. Guven, Lisa E. Sachs","doi":"10.2139/ssrn.3661138","DOIUrl":"https://doi.org/10.2139/ssrn.3661138","url":null,"abstract":"Proponents often explain support for international investment agreements (IIAs) for their ability to: <br><br>(1) promote investment flows; <br><br>(2) depoliticize disputes between investors and states; <br><br>(3) promote the rule of law; and <br><br>(4) provide compensation for certain harms to investors – objectives of varying degrees of importance to multinational enterprises, home states, host states, and other stakeholders.<br><br>While each of these objectives may seem desirable, it is important to consider what exactly they mean and whether IIAs are optimally tailored to achieve them.<br><br>This two-part series aims to consider just that. In the first blog installment, we asked of investor-state dispute settlement: What Are We Trying to Achieve? Does ISDS Get Us There?<br><br>To follow up, in this Working Paper we’ve considered a number of alternative tools that, when used alone or in combination, might better serve the above objectives as well as the goals of sustainable development more generally.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132209803","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-03-31DOI: 10.34218/jom.6.2.2019.008
Vilachoor Srinivasan Kumar Vilachoor Srinivasan Kumar, Dr Utham Kumar, Dr. R. Thenmozhi
The Initiation of Trade and Commerce with African Countries, by India is moving into a new phase in this period Visa vis the past. India’s tryst with African Nations was the support to their sentiments against colonolisation and Racism. The globalized approaches have opened out new Areas of trade and commerce in the African Continent. The compulsions on the part of India to expand its frontiers of commerce obliged the country to focus on Techno economic base in African countries. India’s Cultural relationship with African States seamlessly helped thro the non aligned movement when the countries looked up on India’s leadership and political will namely democratic values to expand into business value and ethics. The Indian Diaspora in East, West and South Africa has established trade over the past 5 decades in traditional commodities, raw materials. The growth in software, health care and education in India motivated the African countries to seek Indian participation in energy, housing and mining Industries. The Exports from India in the past decade grew in west, South and East Africa as also techno co-operation in energy in North Africa. Thus the role of India in Indo pacific, Asean and west Asia motivated the experts from India not to miss out the opportunities in Africa. If Asia is a focus, at the end of 20th Century, then the 21st Century belongs to Africa. The trends in commerce will also make India’s role in strategic defense areas with Africa.
{"title":"Economic Diplomacy with Africa","authors":"Vilachoor Srinivasan Kumar Vilachoor Srinivasan Kumar, Dr Utham Kumar, Dr. R. Thenmozhi","doi":"10.34218/jom.6.2.2019.008","DOIUrl":"https://doi.org/10.34218/jom.6.2.2019.008","url":null,"abstract":"The Initiation of Trade and Commerce with African Countries, by India is moving into a new phase in this period Visa vis the past. India’s tryst with African Nations was the support to their sentiments against colonolisation and Racism. The globalized approaches have opened out new Areas of trade and commerce in the African Continent. The compulsions on the part of India to expand its frontiers of commerce obliged the country to focus on Techno economic base in African countries. India’s Cultural relationship with African States seamlessly helped thro the non aligned movement when the countries looked up on India’s leadership and political will namely democratic values to expand into business value and ethics. The Indian Diaspora in East, West and South Africa has established trade over the past 5 decades in traditional commodities, raw materials. The growth in software, health care and education in India motivated the African countries to seek Indian participation in energy, housing and mining Industries. The Exports from India in the past decade grew in west, South and East Africa as also techno co-operation in energy in North Africa. Thus the role of India in Indo pacific, Asean and west Asia motivated the experts from India not to miss out the opportunities in Africa. If Asia is a focus, at the end of 20th Century, then the 21st Century belongs to Africa. The trends in commerce will also make India’s role in strategic defense areas with Africa.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128087187","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The study was carried on how to develop Community Based Tourism in Cox’s Bazar in order to find the prospects of Community based tourism in Cox’s bazar. The paper defines about the concept of Community Based Tourism (CBT), more specifically it triggered towards case study in Cox’s Bazar which is most visited place in Bangladesh by tourists. Then, the researchers developed well-designed framework which will be beneficial for practitioners and academicians. This is a quantitative study, a total of 406 data were collected by using self-administered. Based on the findings, it is revealed that there is a strong relationship between social, economic, cultural and environmental impact of tourism. The major findings of the study are that economic impact of Community Based Tourism is very much significant followed by social impact. So, the planners and other tourism stakeholders can take initiative as early as possible to develop CBT in Cox’s bazar for the betterment of host community. The development of research framework in this study will enrich the literature regarding the construct of tourism development, more specifically for community-based tourism. This research will be useful in providing an insight of tourism development process for the stakeholders and authorities of tourism ministry.
{"title":"Process of Developing a Community Based Tourism and Identifying its Economic and Social Impacts: An Empirical Study on Cox’s Bazar, Bangladesh","authors":"Ataul Karim Patwary, Biplab Roy, Rajidul Hoque, Md. Shariful Alam Khandakar","doi":"10.52131/pjhss.2019.0701.0068","DOIUrl":"https://doi.org/10.52131/pjhss.2019.0701.0068","url":null,"abstract":"The study was carried on how to develop Community Based Tourism in Cox’s Bazar in order to find the prospects of Community based tourism in Cox’s bazar. The paper defines about the concept of Community Based Tourism (CBT), more specifically it triggered towards case study in Cox’s Bazar which is most visited place in Bangladesh by tourists. Then, the researchers developed well-designed framework which will be beneficial for practitioners and academicians. This is a quantitative study, a total of 406 data were collected by using self-administered. Based on the findings, it is revealed that there is a strong relationship between social, economic, cultural and environmental impact of tourism. The major findings of the study are that economic impact of Community Based Tourism is very much significant followed by social impact. So, the planners and other tourism stakeholders can take initiative as early as possible to develop CBT in Cox’s bazar for the betterment of host community. The development of research framework in this study will enrich the literature regarding the construct of tourism development, more specifically for community-based tourism. This research will be useful in providing an insight of tourism development process for the stakeholders and authorities of tourism ministry.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115189951","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Coffeeconomics index is an alternative index to evaluate the Coffee market structure behaviour from a microeconomic and macroeconomic perspective. Hence, the coffee market structure is formed by the interaction of four large players such as coffee producers (small, cooperatives, and large), coffee brokers, coffee sellers (large, medium, and small), and coffee consumers. The main objective is to evaluate the vulnerabilities of the coffee market structure as a whole through the application of the National Coffee Production Function (NCP-Function). Finally, we calculate the NCP-Function to evaluate the risk and vulnerability of the coffee market structure of Guatemala between 1928 and 2018 respectively.
{"title":"The Evaluation of the Coffee Market under the Application of the Coffeeconomics Index","authors":"Mario Arturo Ruiz Estrada, P. Moug, Rashid Ating","doi":"10.2139/ssrn.3362204","DOIUrl":"https://doi.org/10.2139/ssrn.3362204","url":null,"abstract":"The Coffeeconomics index is an alternative index\u0000to evaluate the Coffee market structure behaviour from a microeconomic and\u0000macroeconomic perspective. Hence, the coffee market structure is formed by the\u0000interaction of four large players such as coffee producers (small,\u0000cooperatives, and large), coffee brokers, coffee sellers (large, medium, and\u0000small), and coffee consumers. The main objective is to evaluate the vulnerabilities\u0000of the coffee market structure as a whole through the application of the National Coffee Production Function (NCP-Function). Finally, we calculate the NCP-Function to\u0000evaluate the risk and vulnerability of the coffee market structure of Guatemala\u0000between 1928 and 2018 respectively.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123956525","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kenneth De Beckker, Kristof De Witte, Geert Van Campenhout
Targeted policy interventions are more effective than one-size-fits-all initiatives. This paper proposes the use of k-means cluster analysis to identify vulnerable groups with respect to financial literacy. Using a rich sample of 12 countries, we distinguish four groups with varying financial literacy levels, and examine their socio-economic characteristics. The results suggest that individuals in the most vulnerable financial illiterate groups are on average, single, less-educated, and unemployed with low incomes. This contrasts with those in the strongest group: individuals with the highest financial knowledge, financial behaviour and financial attitudes scores are on average highly-educated males who live together with a partner. They earn a high income and hold several financial products. Integrating these insights into national strategies which promote financial literacy will not only lead to more effective but also to more efficient policy initiatives by focusing on the particular weaknesses of certain subgroups and by using the appropriate transmission channels.
{"title":"Identifying Financially Illiterate Groups: An International Comparison","authors":"Kenneth De Beckker, Kristof De Witte, Geert Van Campenhout","doi":"10.2139/ssrn.3360483","DOIUrl":"https://doi.org/10.2139/ssrn.3360483","url":null,"abstract":"Targeted policy interventions are more effective than one-size-fits-all initiatives. This paper proposes the use of k-means cluster analysis to identify vulnerable groups with respect to financial literacy. Using a rich sample of 12 countries, we distinguish four groups with varying financial literacy levels, and examine their socio-economic characteristics. The results suggest that individuals in the most vulnerable financial illiterate groups are on average, single, less-educated, and unemployed with low incomes. This contrasts with those in the strongest group: individuals with the highest financial knowledge, financial behaviour and financial attitudes scores are on average highly-educated males who live together with a partner. They earn a high income and hold several financial products. Integrating these insights into national strategies which promote financial literacy will not only lead to more effective but also to more efficient policy initiatives by focusing on the particular weaknesses of certain subgroups and by using the appropriate transmission channels.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128616134","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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