Template-Type: ReDIF-Paper 1.0
Author-Name: Alberton Montagnoli
Author-Name-First: Alberton
Author-Name-Last: Montagnoli
Author-Name: Mirko Moro
Author-Name-First: Mirko
Author-Name-Last: Moro
Author-Name: Georgios A Panos
Author-Name-First: Georgios A
Author-Name-Last: Panos
Author-Name: Robert E Wright
Author-Name-First: Robert E
Author-Name-Last: Wright
Author-Email: r.e.wright@strath.ac.uk
Author-Workplace-Name: Department of Economics, University of Strathclyde
Title: Financial literacy and political orientation in Great Britain
Abstract: This study examines the relationship between financial literacy and political orientation in Great Britain. Using novel data from the British Election Survey in 2014, we employ two distinct measures of political orientation, capturing individual self-assessment on a left-right axis and party preferences. We find that financially-literate individuals are some 11-19 percent more likely to orientate at the centre-left or the centre-right. Moreover, they are some 30 percent less likely not to know their political orientation. The results are robust when rich sets of public-attitude and public-value variables are accounted for. Financially-literate individuals are also more likely to have a stable political orientation over time and they are some 15-23 percent less likely to change attitudes radically towards the left or the right across different waves of the study. We interpret our findings as indicative that greater financial literacy is conducive to greater stability of moderate political views and orientation.
Length: 40 pages
Creation-Date: 2016-09
Revision-Date: 
Publication-Status: Published
File-URL: https://www.strath.ac.uk/media/1newwebsite/departmentsubject/economics/research/researchdiscussionpapers/16.14.pdf
File-Format: Application/pdf
Number: 1614
Classification-JEL: D14, D63, D72, I24
Keywords: Financial literacy, political orientation, attitudes, polarization, Great Britain
Handle: RePEc:str:wpaper:1614