Culture, money attitudes and economic outcomes
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...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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SpringerOpen
2019-01-01
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| Series: | Swiss Journal of Economics and Statistics |
| Subjects: | |
| Online Access: | http://link.springer.com/article/10.1186/s41937-019-0028-4 |
| _version_ | 1818218188152766464 |
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| author | Caroline Henchoz Tristan Coste Boris Wernli |
| author_facet | Caroline Henchoz Tristan Coste Boris Wernli |
| author_sort | Caroline Henchoz |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-12T07:19:47Z |
| format | Article |
| id | doaj.art-83fbb1a1b7574c6c8ff6b580204a8084 |
| institution | Directory Open Access Journal |
| issn | 2235-6282 |
| language | English |
| last_indexed | 2024-12-12T07:19:47Z |
| publishDate | 2019-01-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Swiss Journal of Economics and Statistics |
| spelling | doaj.art-83fbb1a1b7574c6c8ff6b580204a80842022-12-22T00:33:24ZengSpringerOpenSwiss Journal of Economics and Statistics2235-62822019-01-01155111310.1186/s41937-019-0028-4Culture, money attitudes and economic outcomesCaroline Henchoz0Tristan Coste1Boris Wernli2Département des Sciences Sociales, Unité de Sociologie, University of FribourgDépartement des Sciences Sociales, Unité de Sociologie, University of FribourgFORS, Quartier UNIL-Mouline, University of LausanneAbstract 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.http://link.springer.com/article/10.1186/s41937-019-0028-4Social valuesCulturePersonal financeMoneyEducationSavings |
| spellingShingle | Caroline Henchoz Tristan Coste Boris Wernli Culture, money attitudes and economic outcomes Swiss Journal of Economics and Statistics Social values Culture Personal finance Money Education Savings |
| title | Culture, money attitudes and economic outcomes |
| title_full | Culture, money attitudes and economic outcomes |
| title_fullStr | Culture, money attitudes and economic outcomes |
| title_full_unstemmed | Culture, money attitudes and economic outcomes |
| title_short | Culture, money attitudes and economic outcomes |
| title_sort | culture money attitudes and economic outcomes |
| topic | Social values Culture Personal finance Money Education Savings |
| url | http://link.springer.com/article/10.1186/s41937-019-0028-4 |
| work_keys_str_mv | AT carolinehenchoz culturemoneyattitudesandeconomicoutcomes AT tristancoste culturemoneyattitudesandeconomicoutcomes AT boriswernli culturemoneyattitudesandeconomicoutcomes |