Financial Literacy and Political Orientation in Great Britain

Alberto Montagnoli, Mirko Moro, Georgios A Panos, Robert E Wright

Research output: Working paperDiscussion paper

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.
LanguageEnglish
Place of PublicationGlasgow
PublisherUniversity of Strathclyde
Pages1-39
Number of pages40
Volume16
Publication statusPublished - Sep 2016

Fingerprint

political attitude
literacy
party preference
attitude change
self-assessment
election
Financial literacy
Values

Keywords

  • financial literacy
  • political orientation
  • attitudes
  • polarization
  • Great Britain

Cite this

Montagnoli, A., Moro, M., Panos, G. A., & Wright, R. E. (2016). Financial Literacy and Political Orientation in Great Britain. (14 ed.) (pp. 1-39). Glasgow: University of Strathclyde.
Montagnoli, Alberto ; Moro, Mirko ; Panos, Georgios A ; Wright, Robert E. / Financial Literacy and Political Orientation in Great Britain. 14. ed. Glasgow : University of Strathclyde, 2016. pp. 1-39
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Montagnoli, A, Moro, M, Panos, GA & Wright, RE 2016 'Financial Literacy and Political Orientation in Great Britain' 14 edn, University of Strathclyde, Glasgow, pp. 1-39.

Financial Literacy and Political Orientation in Great Britain. / Montagnoli, Alberto ; Moro, Mirko; Panos, Georgios A; Wright, Robert E.

14. ed. Glasgow : University of Strathclyde, 2016. p. 1-39.

Research output: Working paperDiscussion paper

TY - UNPB

T1 - Financial Literacy and Political Orientation in Great Britain

AU - Montagnoli, Alberto

AU - Moro, Mirko

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AU - Wright, Robert E

N1 - Published as a paper within the Discussion Papers in Economics, No. 16-14 (2016)

PY - 2016/9

Y1 - 2016/9

N2 - 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.

AB - 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.

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KW - attitudes

KW - polarization

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BT - Financial Literacy and Political Orientation in Great Britain

PB - University of Strathclyde

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Montagnoli A, Moro M, Panos GA, Wright RE. Financial Literacy and Political Orientation in Great Britain. 14 ed. Glasgow: University of Strathclyde. 2016 Sep, p. 1-39.