News & Events

Conference on Financial Education: "Progress of Global Policies and Practices and Latin American Experiences"

October 31, 2012

Policymakers globally are increasingly concerned about the impact of low levels of financial literacy of their citizens. Lack of awareness about basic economics and personal finance prevent individuals from making informed decisions in an increasingly complex financial marketplace. This can have negative spillovers on individuals' wellbeing and that of their households and can ultimately hold back overall economic advancement in society.

The conference addressed the progress made so far in the development of policies, instruments and analysis by policy makers seeking effective approaches to developing financial literacy as an essential life skill for the 21st Century. The conference was global in scope but with a special focus on Latin America and the Caribbean: countries in the region have implemented successful solutions in the field of financial education in response to the financial literacy needs of their populations, to enable them to profit fully from sustained economic growth and expanding financial markets.

Examples of such solutions were presented together with the high-level guidance and practical toolkits developed under the Russia/OECD/World Bank Trust Fund on Financial Literacy and Education, including a recommendation on national strategies for financial education, practical tools and guidance on the measurement of financial literacy and methods for program evaluation together with additional outputs focusing on financial education in schools and for hard-to-reach groups.


Developing National Strategies, Measurement Tools and Program Evaluation Methods

Financial Literacy & Education in Low and Middle Income Countries: Measurement and Effectiveness
Robert Holzmann, World Bank

Tendencias de la Educación Financiera en América Latina
Diana Mejía, Latin American Development Bank (CAF)

Developing National Strategies for Financial Education: OECD/INFE Principles and Roundtable of Latin American Experiences

National Strategies for Financial Education
André Laboul, OECD

Estrategia Nacional de Educación Financiera: Colombia
David Salamanca, Ministerio de Hacienda y Crédito Público, Colombia

Developing National Strategies for Financial Education: The Mexican Case
Ana Luisa Saavedra, Ministry of Finance and Public Credit, Mexico

Developing a National Strategy for Financial Education
Joao Evangelista de Sousa Filho, Central Bank of Brazil

Measuring Financial Literacy and Capability: International Tools and Evidence

OECD/INFE Tools for Cross-country Surveys of Financial Literacy
Adele Atkinson, OECD

Review of Existing Financial Capability and Literacy Measurement Instruments
Valeria Perotti, World Bank

Measuring Financial Capability in a Low- and Middle-income Setting
Elaine Kempson, University of Bristol, Kinnon Scott and Valeria Perotti, World Bank

WB Consumer Protection and Financial Capability Surveys: An Introduction
Siegfried Zottel, World Bank

Measuring Financial Literacy and Capability: Latin American Experiences

Midiendo la Educación y Capacidad Financiera: Experiencia Peruana
Roxanna Buendia, Superintendencia de Banca, Seguros y AFP, Peru

Measuring Financial Capability in Mexico
Luis Trevino Garza, Comisión Nacional Bancaria y de Valores, Mexico

Lessons from the 2012 Colombian and Mexican Financial Capabilities Surveys
Rekha Reddy, World Bank

Financial Capability Survey
Dairo Estrada, Banco Central de Colombia

Conocer, comprender y hacer Encuesta Nacional de Capacidad Financiera
Ana Caro, Head, Banco Central de Uruguay

Issues and Methods in Program Impact Evaluation

Evaluating Financial Education Programmes OECD/INFE Principles and Tools
Flore-Anne Messy, OECD

A Toolkit for the Evaluation of Financial Capability Programs in Low and Middle Income Countries
Kata Mihaly, Rand Corporation

From Shop to Stock: Understanding and Improving Investor Behavior in Brazil
Aiden Coville, World Bank

Evaluating the Effectiveness of Mexico’s Credit and Savings Disclosure Reforms
Rafael Mazer, CGAP

Impact of Financial literacy on Savings Behavior: Evidence from Uttar Pradesh (India)
Leopold Sarr, World Bank

Moneywise Programme
Olaf Simonse, Ministry of Finance, Netherlands

Targeted Financial Education Programs and Innovative Designs

Financial Literacy: Is There a Gender Issue?

Women and Financial Literacy in New Zealand
Diana Crossan, Commission for Financial Literacy and Retirement Income, New Zealand

Financial Literacy: Is There a Gender Issue? Evidence, Global Trends and Case Studies from Latin America
Sue Lewis, OECD

Educación Financiera y Género en Colombia
María Del Pilar Esguerra Umaña, Central Bank of Colombia

Financial Education in the Classroom

Financial Literacy in the Classroom
Flore-Anne Messy, OECD

Financial Education in Public High Schools
Sylvia Morais, Associação de Educação Financeira do Brasil

Impact Evaluation of Brazil’s School Based Financial Education Program
Miriam Bruhn, World Bank

Avances del Programa Gremial de Educación Financiera de la Banca Colombiana “Saber más, ser más” Educación Financiera Para Niños y Jóvenes
Daniel Castellanos, Asobancaria, Colombia

Child & Youth Finance International
Jared Penner, Child & Youth Finance International

Informing and Inspiring Changes in Financial Behavior: A Kenyan Experiment
William Jack, Georgetown University

Accessing Hard to Reach Groups

Accessing Hard to Reach Groups: Providing Financial Education to the Financially Excluded
Adele Atkinson, OECD

Measuring the Impact of Financial Education and Services: Moving Beyond Conditional Cash Transfer Programs in the Dominican Republic
Dylan Ramshaw, Innovations for Poverty Action

Using Media and Lotteries to Encourage Savings through Learning-by-Doing Evidence from a Large-scale Savings Promotion in Nigeria
Alex Kaufman, U. S. Federal Reserve Bank

La Protección Como Instrumento de Sostenibilidad en la Inclusión Financiera
Jorge Castaño Gutiérrez, Superintendencia Financiera de Colombia

La Protección Como Instrumento de Sostenibilidad en la Inclusión Financiera
María del Pilar de la Torre, Superintendencia Financiera de Colombia