Klapper, Leora; Lusardi, Annamaria; Panos, Georgios A. - In: Journal of Banking & Finance 37 (2013) 10, pp. 3904-3923
The ability of consumers to make informed financial decisions improves their ability to develop sound personal finance. This paper uses a panel data set from Russia, an economy in which household debt has grown at an astounding rate, to examine the importance of financial literacy and its...