Two efforts in financial capability measurement
With support from the Russia Financial Literacy and Education Trust Fund, the World Bank and OECD have both been developing surveys to measure financial capability.
Building on its strong network of country representatives (the International Network for Financial Education, INFE), the OECD has collected and synthesized information on almost 30 existing surveys and produced guidelines on conducting a survey of financial capability based on best practice to date, as well as a short questionnaire of topics commonly covered by existing surveys. The content covers knowledge, attitudes and financial behavior, and it was informed by the desk research but designed following detailed discussions with INFE country representatives.
The World Bank has instead developed an empirical research program aimed to develop survey instruments and manuals that would be appropriate for measuring financial capability of low-income populations in low- and middle-income countries. The resulting World Bank questionnaire is somewhat longer than the OECD-INFE questionnaire and, although there are similarities in content, there are also important differences deriving from the empirical work.