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Current Status of National Strategies for Financial Education: A Comparative Analysis and Relevant Practices

Author

Listed:
  • Andrea Grifoni

    (OECD)

  • Flore-Anne Messy

    (OECD)

Abstract

In both developing and developed economies, the awareness of the importance of financial education led to the development of an increasing number of tailored national strategies for financial education. These frameworks promote a smoother and more sustainable co-operation between interested parties and stakeholders, avoid duplication of resources and allow the development of articulated and tailored roadmaps with measurable and realistic objectives based on dedicated national assessments. The comparative analysis shows how countries overcame a series of challenges such as lack of resources, the identification a leading institution, gathering all stakeholders around common objectives and move efficiently to the operational phase. The experiences analysed in this report provide a global picture of the situation in 2011/12 and a selection of relevant solutions and tools to address these issues in a replicable way. This comparative report should be seen as a background document and as a complement to High-level Principles on National Strategies for Financial Education prepared by the OECD and its International Network on Financial Education (INFE). Statut actuel des stratégies nationales sur l'éducation financière : Analyse comparative et pratiques pertinentes La prise de conscience de l’importance de l’éducation financière a permis la mise en place d’un nombre croissant de stratégies nationales sur l’éducation financière, tant dans les pays en voie de développement que dans les pays développés. Ces structures promeuvent une coopération facilitée et plus durable entre les parties intéressées et les parties prenantes, évitant la duplication de ressources et permettant le développement de feuilles de route plus adaptées et articulées avec des objectifs mesurables et réalistes basés sur des évaluations nationales ciblées. L’analyse comparative qui en est faite montre comment les pays ont surmontés certains défis comme le manque de ressources, l’identification d’une institution coordinatrice, et comment ils ont réussis à réunir l’ensemble des parties prenantes atour d’un objectif commun et sont passés efficacement à la phase opérationnelle. Les expériences analysées dans ce rapport offrent une image globale de la situation 2011-2012 ainsi qu’une sélection d’outils et de solutions pertinentes qui pourront être transposés dans différents contextes nationaux. Ce rapport comparatif doit être considéré comme un document complémentaire aux Principes de haut niveau sur les stratégies nationales pour l’éducation financière, préparés par l’OCDE et son réseau international sur l’éducation financière (INFE).

Suggested Citation

  • Andrea Grifoni & Flore-Anne Messy, 2012. "Current Status of National Strategies for Financial Education: A Comparative Analysis and Relevant Practices," OECD Working Papers on Finance, Insurance and Private Pensions 16, OECD Publishing.
  • Handle: RePEc:oec:dafaad:16-en
    DOI: 10.1787/5k9bcwct7xmn-en
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    File URL: https://doi.org/10.1787/5k9bcwct7xmn-en
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    More about this item

    Keywords

    capacité financière; connaissance financière; financial capability; financial education; financial inclusion; financial literacy; financial services; G20; inclusion financière; politique publique; public policy; services financiers; éducation financière;

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D18 - Microeconomics - - Household Behavior - - - Consumer Protection
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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