Papers by Piotr Bialowolski
Prace i Materiały Instytutu Rozwoju Gospodarczego / Szkoła Główna Handlowa, 2015
Prace i Materiały Instytutu Rozwoju Gospodarczego / Szkoła Główna Handlowa, 2005
Prace i Materiały Instytutu Rozwoju Gospodarczego / Szkoła Główna Handlowa, 2015
Social Science Research Network, 2019
Despite growing literature on financial literacy, little is known about the linkages between its ... more Despite growing literature on financial literacy, little is known about the linkages between its key components. Based on a nationally representative sample of adult Poles (N=1,004) and applying a structural equation model, we examined the relationships between financial knowledge, skills, confidence (i.e., self-assessed knowledge), attitudes, and behaviors in debt-domain. We found that financial confidence – at least regarding debt-related issues – is tied to debt attitudes and behaviors beyond the extent to which the attitudes and behaviors are linked to actual debt knowledge. Moreover, the relationship between knowledge and confidence turned out to be insignificant in our study. These findings suggest that confidence should be used as a separate marker of financial competence. We also established that skills correlate with behavior, and particularly with attitudes, differently from knowledge. This indicates a need for isolated treatment of skills in financial literacy measurements. Financial literacy, split into five components, exhibits a gender gap only in the debt-knowledge domain, suggesting that more in-depth look at financial literacy may help to resolve the gender puzzle discussed extensively in financial literacy literature.
Applied Economics Letters, Nov 24, 2016
Latent transition modelling (LTM) was used to forecast household debt patterns. A model based on ... more Latent transition modelling (LTM) was used to forecast household debt patterns. A model based on three waves (2011, 2013 and 2015) and over 36,000 responses from the biennial panel study of Polish households-Social Diagnosisprovided data for these forecasts. Based on the fact that transitions between latent states are shaped by previous latent states and socioeconomic covariatesage of household head, income and number of household memberswe were able to demonstrate LTM as a tool to generate aggregate predictions for both medium-and longterm evolution of the household credit market. The declining tendency for household credit participation rates in Poland is expected in the longer term. In particular, the trend should be supported by decline in the proportion of mortgage debtors. The groups of households indebted for the consumption of durables and those seeking credit outside the banking sector are the groups predicted to remain stable or increase in size.
Although financed from both private and public resources-the current edition from the Human Capit... more Although financed from both private and public resources-the current edition from the Human Capital Operational Programme (from ESF funds), a research grant from the Ministry of Science and Higher Education and funds from the National Bank of Poland-the Social Diagnosis study is an entirely public undertaking. The complete set of tables with response distribution* and a database of cumulated data from six waves
Quality & Quantity, May 12, 2018
This paper empirically investigates patterns in the use of credit and their temporal evolution ag... more This paper empirically investigates patterns in the use of credit and their temporal evolution against socioeconomic and behavioural traits of borrowers. Debt holder segments were identified from data contained in three waves (2011, 2013 and 2015) of the biennial panel study of Polish households-Social Diagnosis. Analysis supported claims for a differential role of socioeconomic characteristics and behavioural factors in evolution of segments of credit users. The analysis conducted with latent transition modelling confirmed intertemporal stability of borrowing patterns. At the same time, it was revealed that: (1) some groups of borrowers-mortgage holders in particular-were likely to stay in their respective groups, while others-especially those borrowing from outside the banking sector and those indebted for other purposes-were more likely to transition; (2) mortgages and loans for household run business were strongly linked to household socioeconomic characteristics; (3) loans for durables, renovation and, most notably, consumption were less driven by age of the household head, whereas the ability to manage income was clearly pertinent for transition to those groups; (4) the group of overindebted consumers, although not particularly large, was characterized by high probability of remaining indebted with very low chances of escaping debt.
Journal of Financial Counseling and Planning, Jul 7, 2020
Based on a nationally representative sample of adult Poles (N = 1,004), we examined structural re... more Based on a nationally representative sample of adult Poles (N = 1,004), we examined structural relationships between financial knowledge, skills, confidence, attitudes, and behavior in debt-domain. We found that financial confidence—at least regarding debt-related issues—is tied to debt attitudes and behavior beyond the extent to which the attitudes and behaviors are linked to objective debt knowledge. Moreover, the relationship between objective knowledge and confidence turned out to be insignificant in our study. These findings suggest that confidence should be used as a separate marker of financial capability. Having established that skills correlate with behavior and attitudes differently than objective knowledge, we argue also to include them separately in financial capability measurements.
Ekonomika i Organizacja Przedsiębiorstwa, 2010
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Papers by Piotr Bialowolski