The determinants of financial literacy in Portugal

: evidence from PISA 2022

Abstract

Financial literacy serves as a measure of young people's preparation for adult life and contributes to both individual progress and the development of attitudes and habits that are beneficial to society. Using data from the 2022 Programme for International Student Assessment (PISA) survey, this study aims to investigate the determinants of financial literacy in Portugal. The estimation results indicate that there is a gender gap in financial literacy in favor of males after accounting for student background characteristics and school fixed effects. PISA mathematics and reading test scores are positively correlated with higher financial literacy scores. The results provide evidence that higher socioeconomic status is linked to lower financial literacy, while parental involvement in financial matters is positively associated with better financial literacy. Moreover, students´ attitudes and confidence regarding financial matters play an important role in shaping financial literacy.

Date of Award	29 Oct 2025
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Zahide Eylem Gevrek (Supervisor)