The Pursuit of Gender Equality - An Uphill Battle - © OECD 2017

10 Online Annex 10.A1: Detailed results on gender differences in financial literacy

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Online Annex 10.A1 Detailed results on gender differences in financial literacy

Tables

Table 10.A1.1. Gender differences in financial knowledge

Table 10.A1.2. Gender differences in self-assessed financial knowledge
Table 10.A1.3. Gender differences in financial attitudes
Table 10.A1.4. Gender differences in the ability to cover living expenses
Table 10.A1.5. Gender differences in funding retirement
Table 10.A1.6. Gender differences in the ability to cope with a major expense
The Pursuit of Gender Equality - An Uphill Battle - © OECD 2017
10 Online Annex 10.A1: Detailed results on gender differences in financial literacy
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Table 10.A1.1. Gender differences in financial knowledge

Difference between men and women in the percentage of adults who can answer correctly at least five financial
knowledge questions out of seven
Change between 2011 and
2011 survey 2015 survey
2015
Percentage Percentage Percentage
points S.E. points S.E. points S.E.
difference difference difference
Albania 10.5 (3.0) -1.7 (3.5) -12.2 (4.6)
Armenia 9.3 (2.8) .. .. .. ..
Austria .. .. 9.6 (2.3) .. ..
Belarus .. .. -3 (2.8) .. ..
Belgium .. .. 16.4 (2.3) .. ..
Brazil .. .. 7.7 (2.2) .. ..
Canada .. .. 21.6 (3.0) .. ..
Croatia .. .. 0 (3.2) .. ..
Czech Republic 9.8 (3.3) 3.9 (3.2) -5.9 (4.6)
Estonia 9.3 (3.3) 1.5 (2.7) -7.9 (4.3)
Finland .. .. 9.6 (3.2) .. ..
France .. .. 11.9 (2.6) .. ..
Georgia .. .. 9.1 (3.6) .. ..
Germany 15.8 (3.9) .. .. .. ..
Hong Kong, China .. .. 9.1 (2.3) .. ..
Hungary -1.9 (3.2) 3.4 (3.2) 5.3 (4.5)
Ireland 14.4 (3.3) .. .. .. ..
Jordan .. .. 23.3 (2.9) .. ..
Korea .. .. 9.1 (2.2) .. ..
Latvia .. .. 0.6 (2.9) .. ..
Lithuania .. .. 14.7 (3.1) .. ..
Malaysia 5.6 (3.5) 2.9 (1.8) -2.7 (3.9)
Netherlands .. .. 24.8 (3.2) .. ..
New Zealand .. .. 22.4 (2.9) .. ..
Norway 23.6 (2.5) 28.3 (2.9) 4.7 (3.9)
Peru 6.4 (2.0) .. .. .. ..
Poland 19.8 (3.3) 3.3 (3.2) -16.5 (4.6)
Portugal .. .. 12.3 (3.1) .. ..
Russian Federation .. .. 3 (2.5) .. ..
South Africa 5.6 (2.6) 6.4 (2.8) 0.8 (3.8)
Thailand .. .. 1.6 (1.0) .. ..
Turkey .. .. 13.3 (1.8) .. ..
United Kingdom 27.3 (2.9) 21.6 (3.5) -5.7 (4.6)
Virgin Islands, British 9.1 (4.3) 6.4 (2.9) -2.7 (5.2)

Notes: The table reports the difference between the percentage of men and the percentage of women who have high financial knowledge (i.e., who
can aswer correctly at least five financial knowledge questions out of seven). Gender differences that are statistically significant at the 5% level are
indicated in bold. A statistically significant difference means that it is very unlikely that the observed difference is due to chance and it is therefore very
unlikely that there is in fact no difference between men and women.
Cells are empty whenever a country/economy did not participate in the 2011 or 2015 survey.

Source: OECD Secretariat calculations based on the 2011 and 2015 OECD/INFE Survey on Financial Literacy and Financial Inclusion,
http://www.oecd.org/finance/financial-education/measuringfinancialliteracy.htm
ave high financial knowledge (i.e., who
tistically significant at the 5% level are
e is due to chance and it is therefore very

cy and Financial Inclusion,

The Pursuit of Gender Equality - An Uphill Battle - © OECD 2017
10 Online Annex 10.A1: Detailed results on gender differences in financial literacy
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Table 10.A1.2. Gender differences in self-assessed financial knowledge

Likelihood of men with respect to women of reporting above average financial knowledge

Before accounting for financial After accounting for financial

knowledge knowledge
Odds ratio S.E. Odds ratio S.E.
Albania 0.73 (0.17) 0.71 (0.16)
Austria 1.07 (0.11) 0.97 (0.10)
Belarus 1.1 (0.21) 1.1 (0.21)
Belgium 1.56 (0.19) 1.34 (0.17)
Brazil 1.25 (0.13) 1.23 (0.13)
Canada 1.96 (0.28) 1.38 (0.21)
Croatia 1.48 (0.23) 1.45 (0.23)
Czech Republic 1.31 (0.25) 1.3 (0.25)
Estonia 0.95 (0.13) 0.91 (0.13)
Finland 1.27 (0.22) 1.22 (0.22)
France .. .. .. ..
Georgia 1.68 (0.32) 1.53 (0.29)
Hong Kong, China 1.62 (0.27) 1.5 (0.25)
Hungary 1.72 (0.31) 1.64 (0.30)
Jordan 2.93 (0.44) 2.43 (0.36)
Korea .. .. .. ..
Latvia 0.96 (0.13) 0.95 (0.13)
Lithuania 1.47 (0.21) 1.3 (0.19)
Malaysia 1.19 (0.11) 1.12 (0.10)
Netherlands 1.7 (0.24) 1.27 (0.19)
New Zealand 1.35 (0.17) 1.05 (0.14)
Norway 1.43 (0.20) 1.06 (0.16)
Poland 2.05 (0.45) 2.03 (0.45)
Portugal 2.36 (0.57) 2.1 (0.50)
Russian Federation 1.11 (0.16) 1.1 (0.16)
South Africa 1.46 (0.22) 1.43 (0.21)
Thailand 0.96 (0.05) 0.96 (0.05)
Turkey 1.79 (0.21) 1.62 (0.19)
United Kingdom 2.75 (0.46) 2.44 (0.41)
Virgin Islands, British 0.91 (0.12) 0.9 (0.12)

Reading note: An odds ratio of 1 means that men are as likely as women to report that they have above average financial knowledge, while an
odds ratio larger (smaller) than 1 means that men are more (less) likely than women to report that they have above average financial knowledge.
For instance, an odds ratio of 1.96 for Canada before accounting for financial knowledge means that men in Canada are 96% more likely than
women to report that they have above average financial knowledge, before accounting for their actual financial knowledge.

Note: Odds ratios that are statistically significant at the 5% level are indicated in bold. A statistically significant odds ratio means that it is very
unlikely that the odds ratio is due to chance and it is therefore very unlikely that men and women are in fact equally likely to report that they have
above average financial knowledge.
Cells are empty whenever a country/economy did not include a particular question in its 2015 survey.

Source: OECD Secretariat calculations based on the 2015 OECD/INFE Survey on Financial Literacy and Financial Inclusion ,
http://www.oecd.org/finance/financial-education/measuringfinancialliteracy.htm
 cial knowledge, while an
erage financial knowledge.
are 96% more likely than
dge.

tio means that it is very

ely to report that they have

clusion,
The Pursuit of Gender Equality - An Uphill Battle - © OECD 2017
10 Online Annex 10.A1: Detailed results on gender differences in financial literacy
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Disclaimer: http://oe.cd/disclaimer

Table 10.A1.3. Gender differences in financial attitudes

Likelihood of men with respect to women to agree with the following statements

Before I buy something I I find it more satisfying to spend

I keep a close personal watch I tend to live for today and let
carefully consider whether I can money than to save it for the
on my financial affairs tomorrow take care of itself
afford it long term

Odds ratio S.E. Odds ratio S.E. Odds ratio S.E. Odds ratio
Albania 0.27 (0.13) 1.11 (0.20) 1.85 (0.33) 1.52
Austria 0.67 (0.08) 0.69 (0.11) 1.45 (0.20) 1.28
Belarus 0.61 (0.09) 0.63 (0.08) 1.81 (0.25) 0.87
Belgium 0.7 (0.11) 0.87 (0.13) 1.31 (0.13) 1.42
Brazil 1.12 (0.11) 1.18 (0.11) 1.02 (0.10) 1.15
Canada 0.98 (0.15) 0.88 (0.13) 1.12 (0.19) 1.22
Croatia 0.78 (0.10) 0.94 (0.13) 0.93 (0.13) 1.08
Czech Republic 0.82 (0.12) 0.63 (0.10) 1.07 (0.15) 1.27
Estonia 0.77 (0.11) 0.69 (0.10) 1.53 (0.22) 1.13
Finland 0.98 (0.19) 0.83 (0.17) 1.04 (0.18) 1.14
France 0.99 (0.21) 0.97 (0.16) 1.51 (0.19) 1.57
Georgia 0.46 (0.11) 0.68 (0.11) 2.36 (0.42) 2.13
Hong Kong, China 0.53 (0.12) 0.81 (0.14) 1.07 (0.14) 1.08
Hungary 0.85 (0.13) 0.91 (0.12) 1.22 (0.22) 1.35
Jordan 0.65 (0.12) 1.69 (0.22) 0.6 (0.07) 0.94
Korea 0.8 (0.09) 0.9 (0.09) 0.97 (0.13) 1.17
Latvia 0.69 (0.11) 0.66 (0.10) 1.31 (0.18) 0.88
Lithuania 0.86 (0.15) 0.92 (0.12) 0.94 (0.16) 1.22
Malaysia 0.98 (0.09) 0.79 (0.06) 1.02 (0.08) 1.03
Netherlands 0.76 (0.14) 0.86 (0.14) 1.38 (0.25) 1.82
New Zealand 0.83 (0.11) 0.55 (0.09) 0.94 (0.17) 1.09
Norway 0.91 (0.18) 0.96 (0.15) 1.3 (0.43) 2.12
Poland 0.86 (0.11) 0.99 (0.13) 1.12 (0.15) 1.09
Portugal 0.85 (0.22) 1.19 (0.18) 1.15 (0.19) 1.29
Russian Federation 0.93 (0.10) 0.76 (0.08) 1.04 (0.11) 1.28
South Africa 1.22 (0.18) 1.15 (0.14) 1.22 (0.15) 0.97
Thailand 1.02 (0.06) 0.91 (0.04) 1.06 (0.05) 0.98
Turkey 1.07 (0.10) 1.79 (0.13) 1.12 (0.09) 1.25
United Kingdom 0.79 (0.12) 0.61 (0.10) 1.13 (0.20) 1.01
Virgin Islands, British 0.73 (0.13) 0.97 (0.16) 1.27 (0.17) 1.28

Reading note: An odds ratio of 1 means that men are as likely as women to agree with the statements, while an odds ratio larger (smaller) than 1 means th
than women to agree with the statements. For instance, an odds ratio of 0.67 for Austria about the statement "Before I buy something I carefully consider w
that men are 33% less likely (1 - 0.67 = 0.33) than women to report that they agree with the statement.

Note: Odds ratios that are statistically significant at the 5% level are indicated in bold. A statistically significant odds ratio means that it is very unlikely that t
and it is therefore very unlikely that men and women are in fact equally likely to report that they agree with the statement.

Source: OECD Secretariat calculations based on the 2015 OECD/INFE Survey on Financial Literacy and Financial Inclusion , http://www.oecd.org/finance/f
education/measuringfinancialliteracy.htm
atements

ind it more satisfying to spend I am prepared to risk some of

money than to save it for the my own money when saving or
long term making an investment

S.E. Odds ratio S.E.

(0.31) 0.93 (0.16)
(0.16) 2.08 (0.27)
(0.10) 1.26 (0.17)
(0.16) 2.29 (0.26)
(0.12) 1.06 (0.11)
(0.20) 2.26 (0.31)
(0.15) 0.99 (0.13)
(0.19) 1.39 (0.25)
(0.17) 1.83 (0.30)
(0.19) 1.91 (0.30)
(0.18) 1.79 (0.24)
(0.32) 2.52 (0.38)
(0.15) 1.15 (0.19)
(0.25) 1.56 (0.39)
(0.11) 1.05 (0.13)
(0.14) 1.25 (0.14)
(0.11) 1.68 (0.32)
(0.17) 1.38 (0.21)
(0.08) 1.23 (0.10)
(0.34) 3.53 (0.78)
(0.21) 1.92 (0.27)
(0.42) 1.43 (0.20)
(0.14) 1.51 (0.25)
(0.20) 1.69 (0.26)
(0.13) 1.64 (0.19)
(0.12) 1.1 (0.13)
(0.04) 1.06 (0.04)
(0.10) 1.38 (0.11)
(0.18) 1.61 (0.29)
(0.18) 2.34 (0.29)

ger (smaller) than 1 means that men are more (less) likely
omething I carefully consider whether I can afford it" means

ns that it is very unlikely that the odds ratio is due to chance

http://www.oecd.org/finance/financial-
The Pursuit of Gender Equality - An Uphill Battle - © OECD 2017
10 Online Annex 10.A1: Detailed results on gender differences in financial literacy
Version 1 - Last updated: 24-Jul-2017
Disclaimer: http://oe.cd/disclaimer

Table 10.A1.4. Gender differences in the ability to cover living expenses

Likelihood of men with respect to women to report that they can cover living expenses

They would be able to cover

their living expenses for at least
Their income did not quite
three months if they lost their
cover their living costs in the
main source of household
last 12 months
income, without borrowing any
money or moving house

Odds ratio S.E. Odds ratio S.E.

Albania 0.78 (0.11) 1.12 (0.18)
Austria 0.97 (0.13) 1.52 (0.15)
Belarus 0.81 (0.10) 0.94 (0.14)
Belgium 0.89 (0.10) 1.12 (0.11)
Brazil 0.93 (0.10) 1.35 (0.13)
Canada 0.68 (0.09) 1.16 (0.15)
Croatia 0.86 (0.12) 1.06 (0.14)
Czech Republic 1.1 (0.18) 1.02 (0.14)
Estonia 0.79 (0.12) 1.28 (0.17)
Finland 1.08 (0.18) 1.13 (0.16)
France 0.61 (0.07) 1.29 (0.14)
Georgia 0.75 (0.11) 1.05 (0.21)
Hong Kong, China 1.04 (0.18) 1.09 (0.14)
Hungary 0.84 (0.13) 1.24 (0.20)
Jordan 0.96 (0.13) 1.6 (0.19)
Korea 1.13 (0.14) 1.16 (0.12)
Latvia 0.91 (0.12) 1.05 (0.21)
Lithuania 1.1 (0.15) 1.19 (0.18)
Malaysia 0.94 (0.08) 1 (0.08)
Netherlands 0.79 (0.12) 1.31 (0.18)
New Zealand 0.74 (0.10) 1.06 (0.13)
Norway 0.67 (0.13) 1.21 (0.16)
Poland 0.93 (0.16) 1.14 (0.17)
Portugal 0.86 (0.12) 1.26 (0.17)
Russian Federation 0.77 (0.08) 1.25 (0.14)
South Africa 0.86 (0.10) 1.41 (0.19)
Thailand 0.87 (0.04) 1.04 (0.04)
Turkey 0.92 (0.07) 1.14 (0.09)
United Kingdom 0.55 (0.10) 1.37 (0.20)
Virgin Islands, British 0.85 (0.11) 1.56 (0.20)

Reading note: An odds ratio of 1 means that men are as likely as women to report that they can cover living expenses, an odds ratio larger
(smaller) than 1 means that men are more (less) likely than women to report that they can cover living expenses. For instance, an odds ratio of
0.55 in the United Kingdom about covering living costs in the last 12 months means that men in the United Kingdom are 45% less likely (1 - 0.55
= 0.45) than women to report that their income did not quite cover their living costs in the last 12 months.

Note: Odds ratios that are statistically significant at the 5% level are indicated in bold. A statistically significant odds ratio means that it is very
unlikely that the observed odds ratio is due to chance and it is therefore very unlikely that men and women are in fact equally likely to report that
they can cover their living expenses.
Source: OECD Secretariat calculations based on the 2015 OECD/INFE Survey on Financial Literacy and Financial Inclusion,
http://www.oecd.org/finance/financial-education/measuringfinancialliteracy.htm
, an odds ratio larger
nstance, an odds ratio of
re 45% less likely (1 - 0.55

tio means that it is very

equally likely to report that
clusion,
The Pursuit of Gender Equality - An Uphill Battle - © OECD 2017
10 Online Annex 10.A1: Detailed results on gender differences in financial literacy
Version 1 - Last updated: 24-Jul-2017
Disclaimer: http://oe.cd/disclaimer

Table 10.A1.5. Gender differences

Likelihood of men with respect to women to report that they would use

Drawing a government pension/ Occupational or workplace

Private pension plan
old-age benefit pension plan

Odds ratio S.E. Odds ratio S.E. Odds ratio S.E.

Albania 1.03 (0.16) 1.48 (0.74) 0.74 (0.21)
Austria .. .. .. .. .. ..
Belarus 0.65 (0.10) 1.83 (0.59) 1.48 (0.27)
Belgium 1.31 (0.15) 1.81 (0.18) 1.09 (0.11)
Brazil 1.57 (0.14) 1.1 (0.32) 1.61 (0.38)
Canada 0.75 (0.11) 1.06 (0.14) 1.26 (0.18)
Croatia 1.36 (0.20) 1.36 (0.20) 1.18 (0.20)
Czech Republic 0.96 (0.17) 1 (0.22) 0.94 (0.13)
Estonia 1.26 (0.30) 1.34 (0.42) 1.01 (0.20)
Finland .. .. .. .. .. ..
France .. .. .. .. .. ..
Georgia 0.8 (0.13) 1.19 (0.27) 1.19 (0.27)
Hong Kong, China 0.92 (0.14) 2.35 (0.32) 1.31 (0.28)
Hungary 0.64 (0.09) 1.18 (0.30) 1.16 (0.21)
Jordan 1.69 (0.20) 2.19 (0.64) 1.52 (0.31)
Korea 1.35 (0.14) 1.27 (0.36) 0.82 (0.16)
Latvia 0.69 (0.12) 1.3 (0.25) 1.05 (0.21)
Lithuania 0.93 (0.20) 1.44 (0.54) 1.29 (0.17)
Malaysia 0.73 (0.13) 1.3 (0.30) 1.29 (0.10)
Netherlands 1.93 (0.26) 1.85 (0.25) 1.54 (0.26)
New Zealand 1.32 (0.17) 0.7 (0.10) 0.87 (0.11)
Norway 1.28 (0.18) 1.42 (0.20) 1.56 (0.24)
Poland 1.03 (0.15) 1.06 (0.22) 1.07 (0.26)
Portugal 1.22 (0.21) 0.9 (0.33) 0.86 (0.16)
Russian Federation 0.74 (0.10) 1.09 (0.17) 0.88 (0.31)
South Africa 0.83 (0.10) 1.27 (0.22) 1.36 (0.27)
Thailand 1.5 (0.19) 1.17 (0.09) 0.78 (0.08)
Turkey 3.14 (0.24) 5.04 (0.70) 1.23 (0.22)
United Kingdom 0.86 (0.13) 1.22 (0.18) 1.85 (0.30)
Virgin Islands, British 0.67 (0.09) 0.89 (0.12) 1.09 (0.19)

Reading note: An odds ratio of 1 means that men are as likely as women to report that they would/do use these sources of income to fund their retirem
sources of income to fund their retirement. For instance, an odds ratio of 2.89 for Portugal about selling financial assets means that men in Portugal ar

Note: Odds ratios that are statistically significant at the 5% level are indicated in bold. A statistically significant odds ratio means that it is very unlikely
would use/do use these sources of income to fund their retirement.
Cells are empty whenever a country/economy did not include a particular question in its 2015 survey.

Source: OECD Secretariat calculations based on the 2015 OECD/INFE Survey on Financial Literacy and Financial Inclusion , http://www.oecd.org/fina
 Table 10.A1.5. Gender differences in funding retirement

ct to women to report that they would use/do use these sources of income to fund their retirement

Selling financial assets (such Selling non-financial assets

Income generated by financial
as: stocks, bonds or mutual (such as a car, property, art, Relying on a spouse or partner
or non-financial assets
funds) jewels, antiques, etc.)

Odds ratio S.E. Odds ratio S.E. Odds ratio S.E. Odds ratio S.E.
0.88 (1.13) 4.53 (3.68) 0.83 (0.41) 0.17 (0.06)
.. .. .. .. .. .. .. ..
2.44 (2.99) 0.61 (0.75) 1.68 (0.67) 0.66 (0.12)
1.81 (0.26) 1.02 (0.13) 1.88 (0.25) 0.48 (0.05)
1.32 (0.80) 6.64 (7.18) 6.64 (7.18) 6.64 (7.18)
1.4 (0.19) 1.1 (0.16) 1.48 (0.19) 0.46 (0.07)
1.3 (0.33) 0.69 (0.13) 0.93 (0.16) 0.53 (0.08)
2.17 (0.76) 1.61 (0.47) 2.03 (0.49) 0.39 (0.07)
1.43 (0.57) 0.92 (0.20) 1.08 (0.23) 0.68 (0.11)
.. .. .. .. .. .. .. ..
.. .. .. .. .. .. .. ..
3.76 (1.58) 2.15 (0.61) 1.45 (0.29) 0.82 (0.12)
1.24 (0.19) 1.19 (0.45) 1.64 (0.34) 0.04 (0.02)
1.22 (0.42) 2.25 (0.84) 0.84 (0.28) 0.39 (0.16)
3.68 (1.84) 1.02 (0.29) 1.72 (0.42) 0.35 (0.07)
1 (0.00) 1.58 (1.14) 1.58 (1.14) 1.58 (1.14)
1.6 (1.23) 1.44 (0.46) 3.73 (1.22) 0.41 (0.09)
2.39 (1.00) 1.26 (0.27) 1.51 (0.32) 1.06 (0.31)
1.09 (0.10) 1.13 (0.24) 0.85 (0.15) 0.38 (0.04)
3.02 (1.19) 1.12 (0.32) 2.84 (1.11) 0.42 (0.13)
0.93 (0.13) 0.73 (0.10) 1.23 (0.16) 0.35 (0.06)
2.49 (0.60) 1.79 (0.54) 1.82 (0.49) 0.22 (0.10)
0.88 (0.50) 0.56 (0.29) 1.24 (0.76) 0.43 (0.17)
2.89 (1.53) 4.07 (2.67) 2.21 (1.22) 0.52 (0.12)
2.09 (0.52) 1.21 (0.20) 0.58 (0.07) 0.63 (0.07)
1.02 (0.37) 0.96 (0.41) 1.11 (0.43) 0.47 (0.10)
1.06 (0.21) 1.1 (0.08) 1 (0.05) 0.7 (0.03)
0.5 (0.36) 0.79 (0.11) 1.44 (0.43) 0.03 (0.01)
1.2 (0.30) 1.05 (0.35) 2.16 (0.44) 0.41 (0.11)
0.91 (0.15) 0.94 (0.31) 1.15 (0.20) 0.31 (0.12)

ese sources of income to fund their retirement, an odds ratio larger (smaller) than 1 means that men are more (less) likely than women to report that they would/do us
cial assets means that men in Portugal are 2.89 times more likely than women to report that they would sell their financial assets to fund their retirement.

t odds ratio means that it is very unlikely that the odds ratio is due to chance and it is therefore very unlikely that men and women are in fact equally likely to report th

ancial Inclusion, http://www.oecd.org/finance/financial-education/measuringfinancialliteracy.htm

 Relying on children or other
family members

Odds ratio S.E.

0.92 (0.20)
.. ..
0.56 (0.11)
3.81 (1.34)
6.64 (7.18)
0.83 (0.23)
0.6 (0.11)
0.73 (0.16)
0.64 (0.10)
.. ..
.. ..
0.68 (0.11)
0.61 (0.08)
0.33 (0.13)
0.35 (0.08)
0.59 (0.30)
0.6 (0.09)
0.63 (0.17)
0.84 (0.07)
0.48 (0.47)
0.35 (0.06)
0.92 (0.36)
0.96 (0.36)
0.71 (0.20)
0.63 (0.07)
0.7 (0.10)
0.9 (0.04)
0.21 (0.02)
1.83 (0.83)
1.22 (0.45)

en to report that they would/do use these

fund their retirement.

re in fact equally likely to report that they

The Pursuit of Gender Equality - An Uphill Battle - © OECD 2017
10 Online Annex 10.A1: Detailed results on gender differences in financial literacy
Version 1 - Last updated: 24-Jul-2017
Disclaimer: http://oe.cd/disclaimer

Table 10.A1.6. Gender differences in the ability to cope with a major expense
Likelihood of men with respect to women to report that they would be able to pay for a major expense – equivalent to one month of income – without
borrowing the money or asking family or friends to help

After accounting for socio-

Before accounting for any
covariates
After accounting for socio-
After accounting for socio- demographic factors, financial
demographic factors and
demographic factors attitudes and financial
financial attitudes
knowledge

Odds ratio S.E. Odds ratio S.E. Odds ratio S.E. Odds ratio
Albania 1.52 (0.25) 1.58 (0.28) 1.6 (0.29) 1.62
Austria .. .. .. .. .. .. ..
Belarus 1.15 (0.15) 1.22 (0.18) 1.24 (0.18) 1.24
Belgium 1.33 (0.15) 1.41 (0.18) 1.47 (0.20) 1.27
Brazil 1.32 (0.16) 1.44 (0.19) 1.49 (0.20) 1.44
Canada 1.62 (0.22) 1.66 (0.25) 1.76 (0.27) 1.54
Croatia 1.34 (0.18) 1.23 (0.18) 1.12 (0.17) 1.12
Czech Republic 1.3 (0.19) 1.19 (0.21) 1.29 (0.23) 1.27
Estonia 1.46 (0.19) 1.56 (0.23) 1.68 (0.25) 1.62
Finland .. .. .. .. .. .. ..
France .. .. .. .. .. .. ..
Georgia 1.93 (0.34) 1.73 (0.36) 1.77 (0.37) 1.74
Hong Kong, China 1.32 (0.20) 0.99 (0.21) 0.96 (0.21) 0.95
Hungary 1.14 (0.15) 1.23 (0.19) 1.3 (0.21) 1.28
Jordan 1.44 (0.21) 1.01 (0.20) 1.01 (0.20) 1
Korea .. .. .. .. .. .. ..
Latvia 1.22 (0.18) 1.28 (0.21) 1.38 (0.24) 1.34
Lithuania 1.25 (0.18) 1.26 (0.19) 1.3 (0.20) 1.3
Malaysia 1.2 (0.09) 1.1 (0.10) 1.09 (0.10) 1.07
Netherlands 1.02 (0.16) 0.83 (0.15) 1.05 (0.21) 0.87
New Zealand 1.48 (0.21) 1.43 (0.22) 1.44 (0.23) 1.32
Norway 1.2 (0.20) 1.25 (0.22) 1.62 (0.32) 1.27
Poland 1.25 (0.17) 1.17 (0.18) 1.2 (0.19) 1.19
Portugal 1.54 (0.21) 1.52 (0.24) 1.53 (0.24) 1.42
Russian Federation 1.37 (0.15) 1.48 (0.18) 1.49 (0.19) 1.48
South Africa 1.53 (0.22) 1.37 (0.22) 1.45 (0.23) 1.45
Thailand 1.03 (0.04) 1.07 (0.05) 1.09 (0.05) 1.09
Turkey 1.27 (0.10) 0.96 (0.10) 0.96 (0.10) 0.96
United Kingdom 1.76 (0.31) 1.6 (0.31) 1.65 (0.33) 1.58
Virgin Islands, British 1.16 (0.15) 1.24 (0.19) 1.21 (0.19) 1.19

Reading note: An odds ratio of 1 means that men are as likely as women to report that they would be able to pay for a major expense, an odds ratio larger
(smaller) than 1 means that men are more (less) likely than women to report that they would be able to pay for a major expense. For instance, an odds
ratio of 1.33 for Belgium before accounting for any covariates means that men in Belgium are 1.33 times (or 33%) more likely than women to report that
they would be able to pay for major expense – equivalent to one month income – without borrowing the money or asking family or friends to help.

Note: Results are obtained from a logistic regression including as explanatory factors: age, gender, household composition, who takes decisions in the
household, education, work situation, financial attitudes, financial knowledge.
Odds ratios that are statistically significant at the 5% level are indicated in bold. A statistically significant odds ratio means that it is very unlikely that the
observed odds ratio is due to chance and it is therefore very unlikely that men and women are in fact equally likely to report that they would be able to pay
for major expense – equivalent to one month income – without borrowing the money or asking family or friends to help.
Cells are empty whenever a country/economy did not include a particular question in its 2015 survey.

Source: OECD Secretariat calculations based on the 2015 OECD/INFE Survey on Financial Literacy and Financial Inclusion,
http://www.oecd.org/finance/financial-education/measuringfinancialliteracy.htm
 month of income – without

After accounting for socio-

demographic factors, financial
attitudes and financial
knowledge

S.E.
(0.30)
..
(0.18)
(0.18)
(0.20)
(0.25)
(0.17)
(0.23)
(0.25)
..
..
(0.37)
(0.21)
(0.20)
(0.20)
..
(0.24)
(0.20)
(0.10)
(0.18)
(0.22)
(0.27)
(0.19)
(0.23)
(0.18)
(0.23)
(0.05)
(0.10)
(0.32)
(0.19)

expense, an odds ratio larger

se. For instance, an odds
than women to report that
ly or friends to help.

who takes decisions in the

 t it is very unlikely that the
hat they would be able to pay