Household factors affecting confidence in financial institutions

ABSTRACT

This paper looks at household level data from the General Social Survey to examine the influence of demographic factors on household confidence in financial institutions. The paper finds that being female, Black, and satisfied financially predict increased confidence in financial institutions while greater education predicts reduced confidence. Significantly, confidence in financial institutions does not seem to be related to confidence in people in general, but does seem to be related to overall confidence in institutions.

KEYWORDS:

• Banking
• confidence

JEL CLASSIFICATION:

• G21
• G4

Disclosure statement

No potential conflict of interest was reported by the author(s).