Financial literacy and government policies: an international study

Ескіз

Дата

2024

DOI

https://doi.org/10.36690/2674-5216-2024-2-21-33

item.page.thesis.degree.name

item.page.thesis.degree.level

item.page.thesis.degree.discipline

item.page.thesis.degree.department

item.page.thesis.degree.grantor

item.page.thesis.degree.advisor

item.page.thesis.degree.committeeMember

Назва журналу

Номер ISSN

Назва тому

Видавець

Scientific Center of Innovative Research OÜ (Estonia)

Анотація

Financial literacy is crucial for individual financial well-being and overall economic stability. Despite its importance, significant disparities in financial literacy levels exist across different countries. This research, titled "Global Financial Literacy: A Comparative Study," aims to provide a comprehensive analysis of these disparities, identifying the factors influencing financial literacy and evaluating the effectiveness of various national strategies. The purpose of this study is to compare financial literacy levels and educational approaches in countries including Estonia, Slovakia, the Czech Republic, Poland, Croatia, Turkey, Romania, and Ukraine. By examining the policies and initiatives implemented in these countries, the study seeks tooffer insights into best practices and recommend strategies for improving financial literacy globally. A mixed-methods approach was employed, combining quantitative data analysis from the "OECD/INFE 2023 International Survey of Adult Financial Literacy" and other relevant reports with qualitative case studies and interviews with key stakeholders. The methodology included a thorough literature review, data collection from international surveys, detailed country-specific case studies, and comparative analysis. The main results of the study highlight both common features and differences in financial literacy levels and educational approaches across the examined countries. Common features include the integration of financial literacy into educational curricula,government and institutional support, and the increasing importance of digital literacy. Differences are noted in the compulsory nature of financial education, the balance between theoretical and practical financial skills, and the impact of cultural and economic contexts on financial education effectiveness. The study concludes that while common strategies provide a foundation, improving financial literacy globally requires tailored, context-specific approaches. Recommendations include making financial education compulsory, enhancing practical financial skills, investing in digital training for educators, and leveraging public-private partnerships. These strategies can help foster a financially literate global population, contributing to greater economic stability and individual financial well-being

Опис

Ключові слова

financial literacy, government policies, education strategies, financial education, digital literacy, financial knowledge, educational policies, financial inclusion

Бібліографічний опис

Spivak I. Financial literacy and government policies: an international study / I. Spivak, I. Mihus, S. Greben //Public Administration and Law Review.-2024.- Iss.2(18).-Pp. 21–33. DOI https://doi.org/10.36690/2674-5216-2024-2-21-33

item.page.endorsement

item.page.review

item.page.supplemented

item.page.referenced