Numeracy refers to the ability to use numbers, including converting percentages (e.g., 10%) into absolute frequencies (e.g., 1 in 10). Studies have suggested that numeracy is correlated to financial outcomes, suggesting its relevance to financial decisions. However, almost all research on numeracy has been conducted in high-income countries in Europe and North America. Our analyses suggest that low numeracy is much more common in low-income countries, thus potentially threatening the financial well-being of the world’s poorest. We analyzed data from the Lloyd’s Register Foundation World Risk Poll, which assessed basic numeracy in 141 countries, including 21 low-income, 34 lower middle income, 43 upper middle income, and 43 high-income countries. Numeracy was associated with being among the poorest 20% of one’s country, and with difficulty living on one’s income, even after accounting for income, education, and demographics. These findings underscore the importance of worldwide numeracy education.
Louisa Degenhardt, Meyer D. Glantz, Sara Evans‐Lacko, Ekaterina Sadikova, Nancy A. Sampson, Graham Thornicroft, Sergio Aguilar‐Gaxiola, Jordi Alonso, Laura Helena Andrade, Ronny Bruffaerts, Brendan Bunting, Evelyn J. Bromet, José Miguel Caldas‐de‐Almeida, Giovanni de Girolamo, Silvia Florescu, Oye Gureje, Josep María Haro, Yueqin Huang, Aimée Karam, Elie G. Karam, Andrzej Kiejna, Sing Lee, Jean‐Pierre Lépine, Daphna Levinson, María Elena Medina‐Mora, Yosikazu Nakamura, Fernando Navarro‐Mateu, Beth‐Ellen Pennell, José Posada‐Villa, Kate M. Scott, Dan Joseph Stein, Margreet ten Have, Yolanda Torres, Zahari Zarkov, Somnath Chatterji, Ronald C. Kessler
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