Knowledge management in financial education in Peruvian government programs focused on women: Progress and challenges
-
DOIhttp://dx.doi.org/10.21511/kpm.07(1).2023.01
-
Article InfoVolume 7 2023, Issue #1, pp. 1-14
- Cited by
- 978 Views
-
341 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
In Latin America, the age group made up of women is at a disadvantage compared to men in terms of their economic empowerment, which is reflected in the lack of access to paid employment, their average wages are lower than those of men and their performance in poor quality jobs. In this context, the objective of this study is to analyze what aspects of knowledge are developed by the main government financial education programs focused on Peruvian women belonging to organizations (Comedores Populares Programs) or participants in a state social program (Juntos Program) in order to include them financially. The method used is documentary research that seeks to deepen the financial education proposals that the Peruvian government has provided in the last 10 years. The results show that the implementation of government programs increased the participation of women in financial education actions by 61%, achieving a significant improvement from 31% to 77% in the knowledge obtained by the beneficiaries in financial matters; and that, due to the poverty characteristics of the beneficiaries, there were limitations in access to digital media and the current programs are carried out in person. It was concluded that the knowledge management component of the programs should focus on economic empowerment and attitudes towards money and not only on practical knowledge of financial products and services; and that the State must implement policies to ensure that beneficiaries have access to technological equipment so that training uses digital resources and not only resources for face-to-face training.
- Keywords
-
JEL Classification (Paper profile tab)J71, I24
-
References75
-
Tables5
-
Figures0
-
- Table 1. Implementation of the Juntos pilot program in Peruvian regions and number of beneficiaries
- Table 2. Financial education programs that are part of the JUNTOS program
- Table 3. Programs implemented for the benefit of women leaders of soup kitchens
- Table 4. Increased knowledge of the program taught to women leaders of soup kitchens
- Table 5. Main findings of education programs focused on women by analysis variables
-
- Abad-Segura, E., & González-Zamar, M. (2019). Effects of financial education and financial literacy on creative entrepreneurship: A worldwide research. Education Sciences, 9(3), 238.
- Abdullah, M., & Kazuo, I. (2020). Does financial inclusion reduce poverty and income inequality in developing countries? A panel data analysis. Journal of Economic Structures, 9(1), 37.
- Agarwal, A. (2010). Financial Deepening, Financial Inclusion: Challenges and Opportunities. The 23rd Skoch Summit.
- ANDINA. (2011, May 18). Banco de la Nación entregará 260 mil tarjetas de débito a madres de Juntos. ANDINA. (In Spanish).
- Aparicio, C., Bohorquez, D., & Huayta, K. (2016). Access to Financial Services through Retail Agents and Household Expenditures: Evidence from Peru. Journal of Financial Issues SBS, 12(1), 1-26.
- Auricchio, B. (2021, October 21). ¿Es necesaria una educación financiera con perspectiva de género? Banco de Desarrollo de América Latina. (In Spanish).
- Baluja, G. (2016). Financial Literacy Among Women in India: A Review. Pacific Business Review International, 9(4), 82-88.
- Bhutoria, A., & Vignoles, A. (2018). Do financial education interventions for women from poor households impact their financial behaviors? experimental evidence from India. Journal of Research on Educational Effectiveness, 11(3), 409-432.
- Boitano, G. R., & Abanto, D. F. (2020). Challenges of financial inclusion policies in Peru. Revista Finanzas Y Política Económica, 12(1), 89-117.
- Chakrabarty, K. (2011). Financial Inclusion and Banks: Issues and Perspectives.
- Chong, J. C., & Nuñez, L. (2019). Sistematización de iniciativas de Educación Financiera en Perú: Lecciones aprendidas y retos. (In Spanish).
- Comisión Multisectorial de Inclusión Financiera (CMIF). (2015). Perú: Estrategia Nacional de Inclusión Financiera. (In Spanish).
- Comisión Multisectorial de Inclusión Financiera (CMIF). (2017). Plan Nacional de Educación Financiera. (In Spanish).
- Danisman, G. O., & Tarazi, A. (2020). Financial inclusion and bank stability: evidence from Europe. European Journal of Finance, 26(18), 1842-1855.
- Defensoría del Pueblo. (2019). El impacto económico del trabajo doméstico no remunerado y de cuidados en el desarrollo de las mujeres (Documento de trabajo No. 004-2019-DP/ADM). (In Spanish).
- Dixit, R., & Ghosh, M. (2013). Financial Inclusion for Inclusive Growth of India a Study of Indian States. International Journal of Business Management &Research (IJBMR), 3(1), 147-156.
- Espino, A., & Sauval, M. (2016). ¿Frenos al empoderamiento económico? Factores que limitan la inserción laboral y la calidad del empleo de las mujeres: el caso chileno. Revista Desarrollo y Sociedad, 77, 305-360.
- Feijoo, A. R. (2016). Sistematización de iniciativas de educación financiera en el Perú. In Serie Miscelánea, 39 (1st ed.). IEP, Proyecto Capital, IDRC-CDRI, Ford Foundation. (In Spanish).
- Flores-Cueto, J., Hernández, R. M., & Garay-Argandoña, R. (2020). Tecnologías de información: Acceso a internet y brecha digital en Perú. Revista Venezolana de Gerencia, 25(90), 504-519. (In Spanish).
- Freeman, R. E., & Reed, D. L. (1983). Stockholders and Stakeholders: A New Perspective on Corporate Governance. California Management Review, 25(3), 88-106.
- Garcia, M. J. R. (2013). Financial education and behavioral finance: New insights into the role of information in financial decisions. Journal of Economic Surveys, 27(2), 297-315.
- García-Mata, O. (2020). Una Aproximación regional al alfabetismo financiero en México. Economía Sociedad Y Territorio, 21(65), 147-177.
- Hamdan, J. S., Lehmann-Uschner, K., & Menkhoff, L. (2022). Mobile Money, Financial Inclusion, and Unmet Opportunities: Evidence from Uganda. Journal of Development Studies, 58(4), 671-691.
- Hannig, A., & Jansen, S. (2010). Financial Inclusion and Financial Stability: Current Policy Issues (ADBI Working Paper No. 259).
- Hasler, A., & Lusardi, A. (2017). The Gender Gap in Financial Literacy: A Global Perspective. Global Financial Literacy Excellence Center.
- Hastings, J. S., Madrian, B. C., & Skimmyhorn, W. L. (2012). Financial Literacy, Financial Education, and Economic Outcomes (Working Paper No. 18412). NBER
- Haynes, D. C., Haynes, G. W., & Weinert, C. (2011). Outcomes of online financial education for chronically ill rural women. Journal of Financial Counseling and Planning, 22(1), 3-17.
- Hernández, S., García-Santillán, A., & Moreno-García, E. (2022). Financial Literacy and Its Relationship with Sociodemographic Variables. Economics and Sociology, 15(1), 40-55.
- Hung, A., Yoong, J., & Brown, E. (2012). Empowering Women Through Financial Awareness and Education (OECD Working Papers on Finance, Insurance and Private Pensions No. 14).
- Huston, S. J. (2010). Measuring Financial Literacy. Journal of Consumer Affairs, 44(2), 296-316.
- Instituto Nacional de Estadística e Informática (INEI). (2017). Perú: Brechas de Género: Avances hacia la igualdad de mujeres y hombres. INEI. (In Spanish).
- Instituto Nacional de Estadística e Informática (INEI). (2022). Informe técnico de la situación del mercado laboral en Lima Metropolitana. (In Spanish).
- Jaramillo, M., Aparicio, C., & Cevallos, B. (2013). ¿Qué factores explican las diferencias en el acceso al sistema financiero?: evidencia a nivel de hogares en el Perú. SBS Documentos de Trabajo. (In Spanish).
- Jarecke, J., Taylor, E. W., & Hira, T. K. (2014). Financial Literacy Education for Women. New Directions for Adult and Continuing Education, 141, 37-46.
- Kim, J., Gutter, M. S., & Spangler, T. (2017). Review of family financial decision making: Suggestions for future research and implications for financial education. Journal of Financial Counseling and Planning, 28(2), 253-267.
- Kresalja, B. (2015). El principio de subsidiaridad en la Constitución peruana (Fondo Editorial PUCP (ed.)).
- Kumar, N. (2013). Financial inclusion and its determinants: evidence from India. Journal of Financial Economic Policy, 5(1), 4-19.
- Mavrinac, S. C., & Chin, W. P. (2004). Financial Education for Women in Asia Pacific. INSEAD
- Meier, S., & Sprenger, C. D. (2013). Discounting financial literacy: Time preferences and participation in financial education programs. Journal of Economic Behavior and Organization, 95, 159-174.
- Mellado, D. E., Salas, A. B., Velarde, S. L., & Tipismana, V. J. J. (2019). Análisis de la gestión administrativa del Programa de Complementación Alimentaria – PCA, Modalidad “Comedores.” Universidad ESAN. (In Spanish).
- Mendes, K., Moreira, F. de J., & Grigion, A. C. (2019). Financial education indicator: proposal of an instrument from the Item Response Theory. Educação e Sociedade, 40, 1-33.
- Ministerio de Desarrollo e Inclusión social (MIDIS). (2015). Evaluación del rol de las Madres Líderes del programa JUNTOS. (In Spanish).
- Ministerio de Economía y Finanzas [MEF]. (n.d.). ¿Qué es el Programa de Complementación Alimentaria? MEF.
- Mungaray, A., Gonzalez Arzabal, N., & Osorio Novela, G. (2021). Educación financiera y su efecto en el ingreso en México. Problemas Del Desarrollo. Revista Latinoamericana de Economía, 52(205), 55-78.
- Ochman, M. (2016). Políticas sociales y empoderamiento de las mujeres. Una promesa incumplida. Estudios Políticos, 48, 32-51. (In Spanish).
- ONU Mujeres. (2021). Empoderamiento económico. (In Spanish).
- Organization for Economic Cooperation and Development (OECD). (2005). Improving Financial Literacy: Analysis of Issues and Policies. OECD.
- Organization for Economic Cooperation and Development (OECD). (2011). Guide to Evaluating Financial Education Programmes.
- Organization for Economic Cooperation and Development (OECD). (2013). Women and financial education: Evidence, policy responses, and guidance (pp. 1-96). Paris: OECD Publishing
- Packard, K. A., Kalkowski, J. C., White, N. D., Ryan-Haddad, A. M., Black, L. L., Flecky, K. A., Furze, J. A., Rusch, L. M., & Qi, Y. (2014). A financial education program and health of single, low-income women and their children. In Public health: Improving health via inter-professional collaborations (pp. 49-62). Nova Science Publishers, Inc.
- Palacios-Duarte, P. D., Saavedra-García, M. L., & Cortés-Castillo, M. (2020). Estudio comparativo de rendimientos empresariales de hombres y mujeres en México: una aproximación empírica. Revista Finanzas Y Política Económica, 12(2), 431-459.
- Park, C. M., Kraus, A. D., Dai, Y., Fantry, C., Block, T., Kelder, B., Howard, K. A. S., & Solberg, V. S. H. (2021). Empowering women in finance through developing girls’ financial literacy skills in the United States. Behavioral Sciences, 11(12), 176.
- Peeters, N., Rijk, K., Soetens, B., Storms, B., & Hermans, K. (2018). A systematic literature reviews to identify successful elements for financial education and counseling in groups. Journal of Consumer Affairs, 52(2), 415-440.
- Pérez-Roa, L., Allendes, S., & Fontecilla, C. (2022). Women and finances: Exploring the place of women in the Chilean financial education programs. Affilia – Journal of Women and Social Work, 37(3), 364-381.
- Prawitz, A. D., & Cohart, J. (2014). Workplace financial education facilitates improvement in personal financial behaviors. Journal of Financial Counseling and Planning, 25(1), 5-26.
- Salazar-Rebaza, C., Aguilar-Sotelo, F., Zegarra-Alva, M., & Cordova-Buiza, F. (2022). Financing in the alternative securities market: Economic and financial impact on SMEs. Investment Management and Financial Innovations, 19(2), 1-13.
- Sánchez, H. H., Reyes, C., & Mejía, K. (2018). Manual de términos en investigación científica, tecnológica y humanística. Universidad Ricardo Palma. (In Spanish).
- Sarma, M., & Pais, J. (2011). Financial Inclusion and Development. Journal of International Development, 23(5), 613-628.
- Sebstad, J., & Cohen, M. (2003). Financial Education for the Poor. Microfinance Opportunities.
- Skimmyhorn, W. L., Davies, E. R., Mun, D., & Mitchell, B. (2016). Assessing financial education methods: Principles vs. rules-of-thumb approaches. Journal of Economic Education, 47(3), 193-210.
- Sotomayor, N., Talledo, J., & Wong, S. (2018). Determinants of financial inclusion in Peru: Recent Evidence from the Demand Side (SBS Working Paper No. DT/06/2018).
- Superintendencia de Banca, Seguros y AFP. (2019). Empoderando a las socias de los comedores populares para el logro de sus metas financieras. (In Spanish).
- Superintendencia de Banca, Seguros y AFP. (2021). Inclusión Financiera.
- Talledo, J. (2015). Access to and use of financial services: evidence from Peru. Journal of Financial Issues SBS, 11(1), 1-49.
- Ton, A. D., & Hammerl, L. (2021). Knowledge management in the environment of cross-functional team coopetition: A systematic literature review. Knowledge and Performance Management, 5(1), 14-28.
- Trivelli, C., Montenegro, J., & Gutiérrez, M. (2011). Un año ahorrando : primeros resultados del programa piloto “Promoción del Ahorro en Familias Juntos.” Instituto de Estudios Peruanos, PROYECTO CAPITAL. (In Spanish).
- Vieira, K. M., Moreira Junior, F. D. J., & Potrich, A. C. G. (2019). Financial education indicator: Proposal of an instrument from the item response theory. Educacao e Sociedade, 40, 1-33.
- Vivanco, L. F. (2016). El Programa de Ahorro y Educación Financiera para las beneficiarias de la Estrategia JUNTOS: Análisis del Rol del Banco de la Nación. Tierra Nuestra, 11(1), 28-35.
- Wagner, J., & Walstad, W. B. (2019). The effects of financial education on short-term and long-term financial behaviors. Journal of Consumer Affairs, 53(1), 234-259.
- Walstad, W., Urban, C., J. Asarta, C., Breitbach, E., Bosshardt, W., Heath, J., O’Neill, B., Wagner, J., & Xiao, J. J. (2017). Perspectives on evaluation in financial education: Landscape, issues, and studies. Journal of Economic Education, 48(2), 93-112.
- Wernerfelt, B. (1984). A Resource-Based View of the Firm. Strategic Management Journal, 5(2), 171-180.
- White, N. D., Packard, K. A., Flecky, K. A., Kalkowski, J. C., Furze, J. A., Ryan-Haddad, A. M., Black, L. L., Rush, L. M., & Qi, Y. (2018). Two-year sustainability of the effect of a financial education program on the health and well-being of single, low-income women. Journal of Financial Counseling and Planning, 29(1), 68-74.
- Xiao, J. J., & O’Neill, B. (2016). Consumer financial education and financial capability. International Journal of Consumer Studies, 40(6), 712-721.
- Zamora, G. (2020). Formación postgradual virtual vs pre sencial en el ámbito del medio ambiente minero – experiencia y expectativas. Revista de Medio Ambiente y Mineria, 5(1), 39-52. (In Spanish).
- Zarate, K., Chong, J. C., Ventura, E., & Mejía, D. (2021). Encuesta de medición de capacidades financieras de Perú 2019. Superintendencia de Banca, Seguros y AFP (SBS) de Perú y CAF. (In Spanish).