Bank run and financial literacy: assessing trust in deposit guarantee schemes from a third mission perspective. Evidence from Italy

What is it about?

This paper highlights how the lack of trust in Deposit Guarantee Schemes can result from a low level of financial education. This highlights the need for initiative to increase population’s financial literacy, in particular on the knowledge about deposit guarantee that pertains to nearly everyone, as the majority of individuals today maintain a bank deposit. Such initiatives can arise from public/private partnerships like the ones of Deposit Guarantee Schemes with governments, policy makers, banks, schools, mass media and Universities. The latter, in particular can play a key role in the dissemination of knowledge through the third mission.

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