CALL FOR PAPERS :: Financial Literacy in the 21st Century: Challenges, Opportunities, and Policy Implications

05-11-2024

Now more than ever, the significance of financial literacy is evident as countries around the world steer through challenges relevant to 21st-century economies. This special issue of the Management in Review will provide a debate's space how financial literacy can be an enabler for sustainable economic growth as well, as reflect on more current issues such the emergence of fintech or rise in income inequalities.

Research has shown that economically knowledgeable people of all consumers are better personal financial decision-makers (Lusardi & Mitchell, 2014) also offering the potential to reduce wealth inequality and promote a more equitable economy. Also, the relationship between financial education and mental health is an important area to investigate considering that stress associated with finances has been related to mental illness (Sweet et al., 2013).

It is also intended to deepen the relationship between financial literacy and technological advancement, particularly in the era of fintech and artificial intelligence. As fintech revolutionizes financial services, understanding its implications for financial education is essential (Buchak et al., 2018). We also aim to examine the critical role that financial literacy plays for entrepreneurs and small businesses, especially in the current economic climate, where sound financial decisions are pivotal for long-term success (OECD, 2017).

We invite academicians, practitioners, and researchers to submit original, previously unpublished, and complete manuscripts, prepared according to the journal’s guidelines.

Submissions employing empirical, analytical, or conceptual frameworks that create new insights for professionals in the industry are welcome. Authors are encouraged to submit contributions within an area that is related broadly to the overarching thematic focus of the special issue. We suggested the following themes, however, this is not an exhaustive list:

The importance of financial literacy is increasingly evident as global economies navigate the complexities of the 21st century. This special issue of Management in Review will explore how financial literacy can drive sustainable economic growth and address contemporary challenges such as the rise of fintech and income inequality.

Research indicates that financially literate individuals make better personal financial decisions, potentially reducing wealth inequality and fostering a more equitable economy (Lusardi & Mitchell, 2014). Additionally, the link between financial education and mental health warrants investigation, given the association between financial stress and mental illness (Sweet et al., 2013).

This issue will further examine the interplay between financial literacy and technological advancements, particularly in the age of fintech and artificial intelligence. As fintech revolutionizes financial services, understanding its implications for financial education is crucial (Buchak et al., 2018). We will also analyze the vital role of financial literacy for entrepreneurs and small businesses, especially in the current economic climate where sound financial decisions are essential for long-term success (OECD, 2017).

We invite academics, practitioners, and researchers to submit original, unpublished manuscripts that adhere to the journal's guidelines. Submissions employing empirical, analytical, or conceptual frameworks that generate new insights for industry professionals are welcome. Contributions should broadly align with the overarching theme of financial literacy. Suggested themes include, but are not limited to:

 

  • Financial Literacy for Sustainable Economic Growth;
  • Financial Literacy in the Era of Fintech;
  • Financial Inequality: Financial Literacy as a Tool to Reduce Economic Disparities
  • Financial Literacy and Mental Health;
  • Impact of Financial Literacy on Macroeconomic Stability;
  • Financial Literacy for Entrepreneurs and Small Businesses;
  • Financial Literacy for Youth;
  • Financial Education and Parental Influence;
  • Artificial Intelligence and the Future of Financial Education.

Accepted languages include English, Portuguese, and Spanish.

 

IMPORTANT DATES:

Deadline for Submission: February 28, 2025

Preliminary Result: April 13, 2025

Final Paper Submission Deadline: May 31, 2025

Final Result: June 30, 2025

Publication: July, 2025

For registration, online submission, and other details, please visit our website: www.managementinreview.org

REFERENCES

Buchak, G., Matvos, G., Piskorski, T., & Seru, A. (2018). Fintech, regulatory arbitrage, and the rise of shadow banks. Journal of Financial Economics, 130(3), 453-483. https://doi.org/10.1016/j.jfineco.2018.03.011

Goyal, K., & Kumar, S. (2021). Financial Literacy: A Systematic Review and Bibliometric Analysis. International Journal of Consumer Studies, 45, 80-105. https://doi.org/10.1111/ijcs.12605

Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52(1), 5–44. https://doi.org/10.1257/jel.52.1.5

Sweet, E., Nandi, A., Adam, E. K., & McDade, T. W. (2013). The high price of debt: Household financial debt and its impact on mental and physical health. Social Science & Medicine, 91, 94-100. https://doi.org/10.1016/j.socscimed.2013.05.009

OECD (2017). OECD/INFE Report on Adult Financial Literacy in G20 Countries. OECD Publishing.  https://doi.org/10.1787/04fb6571-en