Acta Oeconomica

Abstract Today's world is characterised by the rapid spread of digital technology in the financial industry. Strongly connected with this development, financial products have become increasingly complex. Globalisation has increased the number of financial products offered worldwide, and almost every daily decision has a financial aspect. Thus, for the last three decades, a widening government-level agreement has emerged that individuals, particularly young people, need appropriate financial literacy to handle their finances successfully, prevent financial exclusion, and protect themselves against possible financial fraud. This deficiency is even more severe in the CEE countries, where savings, borrowing opportunities, and financial self-care options were limited; financial markets were practically non-existent. This paper reviews the existing efforts in financial education, drawing lessons from traditional methods and established channels. It also highlights recent initiatives that aim to bolster financial literacy.

Levente Kovács

Elemér Terták

Thematic review of financial education and financial literacy in the digital age

数字时代的金融教育与金融素养主题综述

Abstract The study examines the role of social capital in the process of economic growth with a special focus on its relationship with the institutional structures of economies. Within this framework, the study first explores whether the impact of social capital on economic growth can be assessed under different regimes based on the government size. Subsequently, in order to highlight the significance of the effective presence of the government, we analyze the threshold impact of government size for lower and upper mean values of government effectiveness. We employ a dynamic panel threshold procedure by utilizing the data from 91 countries (34 developed and 57 emerging economies) over the period 2007–2021. Our findings reveal that social capital does not always have a positive impact on economic growth. Particularly in emerging economies, when government effectiveness is below the mean value (&lt;−0.10), regardless of the identified threshold for the government size, social capital negatively influences economic growth.

Nazmiye Tekdemir

Pelin Varol Iyidoğan

The role of government in social capital and economic growth nexus: A non-linear approach

政府在社会资本与经济增长关系中的作用：一种非线性方法

Abstract Does evidence exist of convergence clubs in global climate change vulnerability/readiness? This question is pivotal as it dictates the necessity for policy collaboration in addressing climate change. This study investigates the climate change convergence hypothesis utilizing climate vulnerability index data from 136 countries spanning 1995–2020. Employing club convergence methodology, which clusters countries with similar characteristics while accommodating country heterogeneity, the analysis reveals an initial classification comprising 14 clubs. The study identifies that the first four clubs consist of low- and medium-low-income countries in Africa and South Asia, while the last four clubs comprise high-income countries situated among the USA, Canada, and Europe. These findings show high, low- and middle-income countries' responses to climate change.

Fatih Kaplan

Ahmet Koluman

A club convergence analysis of climate change from a cross-country perspective

从跨国视角看气候变化的俱乐部趋同分析

Abstract The aim of the paper is to determine the effect of corruption, using human development index (HDI), and its sub-indices: education, life expectancy and gross national income in 135 developed and developing countries over the period of 2005–2021. A dynamic estimation (sys-GMM) method was employed and the transformation of Prais-Winsten with corrected standard errors for correlated panels (PCSE) and GMM were used for robustness check. The findings show that corruption, in any of the indices, serves as a human development constraint for both the overall country sample, and for the countries grouped by income level. An interesting result is that the education index in the lower-income countries is more sensitive to corruption, while corruption affects the income index to a greater extent in the higher-income countries. The analysis also confirms that democracy, economic freedom, investment, social public spending, as well as, globalisation and information and communication technologies are influencing factors of HDI.

Omar Neme Castillo

Ana Lilia Valderrama Santibáñez

Héctor Flores Márquez

Effects of corruption on human development. Evidence for developed and developing countries

腐败对人类发展的影响：发达国家与发展中国家的证据

Abstract In Hungary, initial pensions are indexed to average net wages, reported by official earnings statistics (ES). However, there is an alternative statistical source on labour income, the national accounts (NA). The latter indicate a markedly lower rate of growth in wages than the ES for the period between 2010 and 2020. We claim that the ES overstated the actual increase in wages at the national level during the 2010s, and make our own calculations regarding the path of net wages and implied (hypothetical) initial pensions. The main implications are as follows: (i) the actual increase in initial benefits was excessive; (ii) the ratio of average benefits to the revised average net wages fell much less; (iii) the accumulation of major tensions between cohorts retiring in subsequent years might have been reduced by relying on the more plausible wage statistics reported by the NA.

Gábor Oblath

András Simonovits

Statistical overstatement of average wages and its impact on pensions: The case of Hungary

匈牙利案例：平均工资的统计夸大及其对养老金的影响

Abbreviation	AOecon
Journal Impact	0.71
Quartiles(Global)	ECONOMICS(Q3)

ISSN	0001-6373, 1588-2659
h-index	21

Publication Information	Publisher: Akademiai Kiado，Publishing cycle: ，Journal Type: journal，Open Access Journals: No
Basic data	Year of publication: 2002，Proportion of original research papers: 96.97%，Self Citation Rate:28.60%， Gold OA Rate: 35.00%

Acta Oeconomica

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Thematic review of financial education and financial literacy in the digital age

The role of government in social capital and economic growth nexus: A non-linear approach

A club convergence analysis of climate change from a cross-country perspective

Effects of corruption on human development. Evidence for developed and developing countries

Statistical overstatement of average wages and its impact on pensions: The case of Hungary

Thematic review of financial education and financial literacy in the digital age

The role of government in social capital and economic growth nexus: A non-linear approach

A club convergence analysis of climate change from a cross-country perspective

Effects of corruption on human development. Evidence for developed and developing countries

Statistical overstatement of average wages and its impact on pensions: The case of Hungary