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Financial Literacy around the World: An Overview of the Evidence with Practical Suggestions for the Way Forward
Open accessAbstract
Financial literacy programs are fast becoming a key ingredient in financial policy reform worldwide. Yet, what is financial literacy exactly and what do we know of its effectiveness? This paper collects insights from the literature thus far and summarizes global evidence on financial literacy, its correlates, and existing and upcoming causal investigations. The authors conclude with a synthesis of policy advice and practical suggestions for the way forward in this fast growing area of research.
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Citations
Cites
Can Entrepreneurial Activity be Taught? Quasi-Experimental Evidence from Central America
Klinger, B., & Schündeln, M. (2011) · World Development · doi:10.1016/j.worlddev.2011.04.021 · Cited by 171
Cited by
Does financial literacy improve financial inclusion? Cross country evidence
Grohmann, A., Klühs, T., & Menkhoff, L. (2018) · World Development · doi:10.1016/j.worlddev.2018.06.020 · Cited by 699
Savings by and for the Poor: A Research Review and Agenda
Karlan, D., Ratan, A. L., & Zinman, J. (2014) · Review of Income and Wealth · doi:10.1111/roiw.12101 · Cited by 548
Financial Education Affects Financial Knowledge and Downstream Behaviors
Kaiser, T., Lusardi, A., Menkhoff, L., & Urban, C. (2022) · Journal of Financial Economics · doi:10.1016/j.jfineco.2021.09.022 · Cited by 508
Childhood roots of financial literacy
Grohmann, A., Kouwenberg, R., & Menkhoff, L. (2015) · Journal of Economic Psychology · doi:10.1016/j.joep.2015.09.002 · Cited by 289
Fintech Adoption Drivers for Innovation for SMEs in Indonesia
Nugraha, D. P., Setiawan, B., Nathan, R. J., & Fekete-Farkas, M. (2022) · Journal of Open Innovation: Technology, Market, and Complexity · doi:10.3390/joitmc8040208 · Cited by 188
Metadata
- Authors
- Xu, L., & Zia, B.
- Venue
- World Bank, Washington, DC eBooks
- Publisher
- World Bank, Washington, DC
- Published
- 2012-06
- OpenAlex
- W1790743245
- Cited by
- 428
- References
- 1
- Type
- report
- Language
- en
- Open access
- hybrid
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
