Financial Education And The Enhancement Of Institutional Trust In The Ecuadorian Regulatory Framework
DOI:
https://doi.org/10.58210/ri3699Keywords:
financial education, socioeconomic status, financial regulatory framework, SEM-PLS, emerging economyAbstract
This study explored the impact of financial education and socioeconomic status (SES) on the perception of the financial regulatory framework among the middle class in Guayaquil, Ecuador. A quantitative, non-experimental, cross-sectional design was employed with a convenience sample of 123 participants. Data were collected through a validated 15-item Likert-scale questionnaire and analyzed using structural equation modeling with partial least squares (SEM-PLS). The findings revealed that financial education has a significant and positive effect on the perception of the regulatory framework, accounting for 54.8% of its variability. Conversely, SES demonstrated a negative effect, highlighting how socioeconomic inequalities undermine confidence in financial regulations. The interaction between SES and financial education was not significant (p = 0.490), suggesting that financial education exerts a direct influence regardless of socioeconomic status. These results underscore the importance of implementing accessible and sustainable financial education programs to strengthen trust in institutions and foster economic inclusion. Future research should consider larger and more diverse samples, as well as longitudinal approaches, to examine the long-term effects of financial education on regulatory perceptions across different social and geographic contexts.
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