Probit Analysis for Financial Attitude: Case of Kazakhstan

By Maya Katenova

A featured article of our April 2020 edition of PRMIA's Intelligent Risk quarterly newsletter

Both 2015 and 2019 surveys were performed by KIMEP University student groups as a class project in  spring  semester  of  each  year,  using  face-to-face  and  paper-and-pencil  surveys  in  different  cities  and towns of Kazakhstan. Excluding invalid and unsuitable answers for the analysis, the total number of  survey  responses  resulted  were  830  for  2015  and  983  for  2019  studies  respectively.  One  of  the  weaknesses of survey data may be the possibility of mindless responses and random guess works. To reduce possible distortions of mindless answers and random guess works, we cut the middle portion of the literacy scores (2 and 3 points out of 5 points).

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About the Intelligent Risk

Intelligent Risk is PRMIA's quarterly publication, bringing all PRMIA members free access to knowledge and information about risk management for financial institutions as well as current information on PRMIA chapters, committees, academic partners, news and events.

Individual articles from each edition are published under our members only Risk Library resources section. PRMIA is sharing select articles from the April 2020 edition with the public. Get more articles like this by joining PRMIA today.

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