Financial Literacy in the Developing World
24 Pages Posted: 12 Apr 2013
Date Written: January 1, 2013
Abstract
Financial literacy programs are fast becoming a key ingredient in financial policy reform worldwide. Yet, what is financial literacy exactly, how best do we measure it, and what do we know of its effectiveness in developing countries? This paper collects insights from the literature thus far and summarizes evidence on financial literacy measurement and evaluations in the developing world. We conclude with a synthesis of policy advice and practical suggestions for the way forward in this fast growing area of research.
Keywords: Financial Literacy, Financial Education, Financial Capability, Randomized Evaluation
JEL Classification: D14, D18, L26, O16
Suggested Citation: Suggested Citation
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