OECD Working Papers on Finance, Insurance and Private Pensions

ISSN :
2079-7117 (en ligne)
DOI :
10.1787/20797117
Cacher / Voir l'abstract
Selected studies on finance, insurance and private pensions policy prepared for dissemination in order to stimulate wider discussion and further analysis and obtain feedback from interested audiences. The studies provide timely analysis and background on industry developments, structural issues, and public policy in the financial sector. Topics include risk management, governance, investments, benefit protection, and financial education. Previous papers addressing these policy issues are available via http://dx.doi.org/10.1787/19936397.
 

Financial Education, Savings and Investments

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Auteur(s):
Sue Lewis, Flore-Anne Messy1
Author Affiliations
  • 1: OCDE, France

Date de publication
01 jui 2012
Bibliographic information
N°:
22
Pages
44
DOI
10.1787/5k94gxrw760v-en

Cacher / Voir l'abstract

Savings and investments by individuals are important both for personal financial well-being and for economic growth. Many governments try to encourage their citizens to save more, or to save more appropriately, by preferring formal institutions to informal saving and by promoting more diversification. However, there are considerable barriers to saving, including limited access to financial markets by some groups, complexity of financial products and information asymmetries. Knowledge and understanding of saving and investment concepts is particularly low in many countries. In addition, there are behavioural and cultural factors which may limit people’s propensity to save. As a consequence, policy makers have developed several strategies to influence whether and how individuals save. Policy responses typically involve a combination of prudential regulation and consumer protection legislation, financial incentives, financial education and awareness initiatives, as well as behavioural techniques to encourage people into sound saving decisions.
Mots-clés:
investment, consumer protection, financial education, financial literacy, saving
Classification JEL:
  • D14: Microeconomics / Household Behavior and Family Economics / Personal Finance
  • D18: Microeconomics / Household Behavior and Family Economics / Consumer Protection
  • E21: Macroeconomics and Monetary Economics / Macroeconomics: Consumption, Saving, Production, Employment, and Investment / Consumption; Saving; Wealth
  • I28: Health, Education, and Welfare / Education and Research Institutions / Government Policy