Financial Literacy Gender Gap: A Meta-Analysis

Abstract

Several studies around the world identify a gender gap in financial literacy against women regardless of age, education level, and socioeconomic status. Although gender is included as one of the variables in many studies focusing on Türkiye, as far as we know, none of them particularly has examined the gender difference. This paper integrates the outputs of these studies in terms of gender and combines them into one measure by conducting meta-analysis techniques. The results reveal a gender gap in financial literacy among women. Financial literacy is essential for women who mostly experience the gender pay gap, face more significant employment interruption challenges and tend to live longer than men. Given those issues, this study highlights implementing inclusive education policies and establishing comprehensive, long-term education programs to improve women’s financial literacy.