Does Financial Skill Promote Economic Growth?
Yutaka Kurihara

Abstract
Financial skill/literacy is the ability to understand how money and economy work, how people earn or make money, and how they invest and use it to help themselves and others. Many advantages arise from improvement of financial skill and it follows that financial skill can result in economic growth. This article empirically examines whether or not financial skill causes economic growth and shows that financial skill brings growth compared to other skills (e.g., English and information technology [IT]); however, financial skill does not necessarily shrink the economic divide. Financial skill plays a role in most theories of persistent inequality.

Full text: PDF