1887

OECD Working Papers on Finance, Insurance and Private Pensions

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.

English

Promoting Financial Inclusion through Financial Education

OECD/INFE Evidence, Policies and Practice

Financial inclusion is an international policy priority and demand-side initiatives including financial education have an important role to play in helping individuals to access and use appropriate, formal financial products. In 2010, under the support of the Russian Trust Fund for Financial Literacy and Education, the OECD/INFE launched a project on the role of financial education in financial inclusion.

The results of this work show that low levels of financial inclusion are associated with lower levels of financial literacy. Recent research, including a broad stock take of INFE members, permitted to identify various ways in which policy makers are developing financial education policies for financial inclusion. Based on a review of approaches taken to deliver financial education for financial inclusion, this report highlights challenges faced and solutions found, and discusses the main lessons learnt and potential way forward.

English

Keywords: financial inclusion, financial literacy, financial education
JEL: G21: Financial Economics / Financial Institutions and Services / Banks; Depository Institutions; Micro Finance Institutions; Mortgages; D18: Microeconomics / Household Behavior and Family Economics / Consumer Protection; D14: Microeconomics / Household Behavior and Family Economics / Household Saving; Personal Finance; I28: Health, Education, and Welfare / Education and Research Institutions / Education: Government Policy; G28: Financial Economics / Financial Institutions and Services / Financial Institutions and Services: Government Policy and Regulation
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