Bringing Financial Literacy and Education to Low and Middle Income Countries : The Need to Review, Adjust, and Extend Current Wisdom
This paper presents a World Bank led and Russia trust fund financed work program to measure financial capability and the effectiveness of financial education in low and middle income countries. The two activities and their staging have been motivat...
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Format: | Working Paper |
Language: | English en_US |
Published: |
World Bank, Washington, DC
2017
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Online Access: | http://documents.worldbank.org/curated/en/732421468180903389/Bringing-financial-literacy-and-education-to-low-and-middle-income-countries-the-need-to-review-adjust-and-extend-current-wisdom http://hdl.handle.net/10986/27828 |
Summary: | This paper presents a World Bank led and
Russia trust fund financed work program to measure financial
capability and the effectiveness of financial education in
low and middle income countries. The two activities and
their staging have been motivated by the lessons of high
income countries with financial literacy programs and the
deviating characteristics of low and middle income
countries. While progress has been made in high-income
countries to measure financial capability, there is little
robust empirical evidence that financial education can
improve it. While applying the financial capability concept
in low and middle-income countries looks promising it will
need to be adjusted to their characteristic and supported by
innovative interventions and rigorous impact evaluation to
improve it. |
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