Gender, Parental Characteristics, and Financial Knowledge of High School Students: Evidence From Multicountry Data

Abstract

This study examines the gender gap in financial literacy by using the Financial Literacy Assessment from the OECD's Programme for International Student Assessment (PISA). The analysis focuses on the influence of parents on their children's understanding of financial concepts, utilizing multilevel modeling procedures to examine variance among students, within schools, and within countries. Based on data from 18 countries, results suggest that a gender gap in financial knowledge favoring male high school students is present and that parents may influence their children's financial knowledge.