Financial literacy and the need to improve it are getting more attention as a result of the economic crisis. The effectiveness of the programmes that target the improvement of financial literacy depends on knowing what factors influence people’s financial knowledge. This is exactly the reason...

Financial literacy, moving to the forefront on account of the economic crisis, is a crucial element of the proper functioning of any society. Our goal is to identify the indicators of financial literacy in topic-related Hungarian and international literature which can then be used to draw...

There is growing concern, across a wide range of countries, about the levels of financial capability of consumers. A large number of initiatives are therefore being developed to address this issue; and countries are increasingly rolling out national strategies on financial capability. To do this...

The survey conducted in 2012–2013 by the State Audit Office of Hungary and its non-governmental partners examined the financial literacy, financial knowledge and risk appetite among higher education students (n=1,743), as well as the factors influencing the same. Our results show that starting...

In the 2008-09 school year the Bank of Italy and the Italian Ministry of Education started an experimental program to incorporate financial education into school curricula. This paper describes the experience since then. According to the program, teachers receive training from the Bank on...

The global financial crisis has drawn the attention of both scholars and supervisors to the issue of financial education as an instrument for the development of efficient markets. The aim of this paper is to test the hypothesis that financial experience, gained with the daily use of different...

By focusing on the highly innovative retail market for structured products, we investigate the drivers of financial complexity. We perform a lexicographic analysis of the term sheets of 55,000 retail structured products issued in Europe since 2002. We observe that financial complexity has been...

We examine the relationship between financial literacy and retirement planning in a representative sample of Swedish adults. We find significant differences in financial literacy between planners and non-planners. Financial literacy levels are also lower among older people, women and those with...

Financial exclusion concerns 2.5 billion individuals and more than 450 million enterprises. The G20 countries are committed to the reduction of this phenomenon. The Bank of Italy has a fundamental role in the field of financial inclusion, both on a national and an international scale through...