Financial Capability in Low- and Middle-Income Countries : Measurement and Evaluation

This report provides an overview of the conceptual foundations and work program implemented by the World Bank under the Russia Financial Literacy and Education Trust Fund (RTF) generously supported by the Ministry of Finance of the Russian Federation beginning in October 2008. The overall objective of the Trust Fund was to support implementation of the December 2006 summit statement from the Russian G8 Presidency, which greatly advanced the topic of financial literacy and education within the international policy discussion. The specific objective of the overall effort was to extend the knowledge base to help Low-Income Country's (LICs) and Middle-Income Country's (MICs) prepare and implement national strategies and programs in this area. This report positions the results of the RTF work program undertaken by the World Bank within the broader realm of international knowledge activities. It highlights the contributions of this work program to the conceptual development and measurement of financial capability and the evaluation of the results achieved by programs directed towards its enhancement. The elements of the work program led by the World Bank focused on two measurement-related topics: 1) how to measure financial capability in a way that is applicable to diverse levels of economic development and across individuals of different income levels; and 2) how to measure the effectiveness of interventions to improve financial capability including, but extending well beyond, formal financial education programs.

Bibliographic Details

Main Authors:	Mulaj, Florentina, Holzmann, Robert, Perotti, Valeria
Language:	English en_US
Published:	World Bank, Washington, DC 2013-06
Subjects:	ACCESS TO FINANCIAL SERVICES, ACCOUNTING, BANK ACCOUNT, BANKS, BEHAVIORAL ECONOMICS, BEHAVIORAL EFFECTS, BEST PRACTICES, BIASES, BUDGETING, BUSINESS EDUCATION, BUSINESS FINANCES, BUSINESSES, CAPABILITIES, CAPABILITY, CAPABILITY ENHANCEMENT, CAPITAL MARKET, CASH TRANSFER, CASH TRANSFERS, CC, CLASSROOM, CLASSROOM TEACHING, COGNITIVE SKILLS, COMMUNICATIONS TECHNOLOGY, CONSUMER PROTECTION, CONSUMERS, CONTRIBUTION, CONTRIBUTIONS, COPYRIGHT, COST-SHARING, CULTURAL NORMS, DAILY EXPENSES, DEBIT CARDS, DECISION MAKING, DELIVERY MECHANISM, DESIGNING INTERVENTIONS, DIVERSIFICATION, DIVORCE, DOMAIN, DOMAINS, E-MAIL, ECONOMIC CHARACTERISTICS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, EDUCATION FUND, EDUCATION LEVEL, EDUCATION TRUST, ETHNIC MINORITIES, EXCLUSION, EXCLUSION OF WOMEN, EXPENDITURE, EXPENDITURES, EXTERNAL CONSULTANT, FACILITATION, FAMILIES, FINANCES, FINANCIAL ACCESS, FINANCIAL BEHAVIOR, FINANCIAL BEHAVIORS, FINANCIAL COMPETENCES, FINANCIAL CONSUMER, FINANCIAL CRISIS, FINANCIAL DECISION, FINANCIAL DECISIONS, FINANCIAL EDUCATION, FINANCIAL EDUCATION EFFORTS, FINANCIAL EDUCATION INITIATIVES, FINANCIAL EDUCATION PROGRAMS, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENTS, FINANCIAL INTERMEDIATION, FINANCIAL ISSUES, FINANCIAL KNOWLEDGE, FINANCIAL LITERACY, FINANCIAL LITERACY INITIATIVES, FINANCIAL LITERACY PROGRAMS, FINANCIAL LITERACY STRATEGIES, FINANCIAL MARKET, FINANCIAL MARKETS, FINANCIAL NEEDS, FINANCIAL OUTCOMES, FINANCIAL PRODUCTS, FINANCIAL RESOURCES, FINANCIAL SECTOR, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL SECTORS, FINANCIAL SERVICE, FINANCIAL SERVICES, FINANCIAL SERVICES PROVIDERS, FINANCIAL SKILLS, FINANCIAL STRATEGY, FINANCIAL TRAINING, FORMAL FINANCIAL INSTITUTION, FORMAL FINANCIAL INSTITUTIONS, FORMAL FINANCIAL SERVICES, GENDER, HOUSEHOLDS, HUMAN CAPITAL, HUMAN DEVELOPMENT, ICT, IMPLEMENTATION PROCESS, INCOME, INCOME GROUP, INCOME GROUPS, INCOME INEQUALITY, INCOME LEVELS, INCOME TAXES, INDEBTEDNESS, INEQUALITY, INFLATION, INFORMAL LENDERS, INFORMAL WORKERS, INFORMATION CAMPAIGN, INFORMATION SYSTEM, INNOVATION, INSURANCE, INSURANCES, INTEREST RATES, INTERNATIONAL BANK, INTERNATIONAL POLICY, INTERVENTIONS, KEY CHALLENGE, KNOWLEDGE BASE, KNOWLEDGE DISSEMINATION, KNOWLEDGE GAPS, KNOWLEDGE MANAGEMENT, KNOWLEDGE SHARING, LACK OF INFORMATION, LACK OF KNOWLEDGE, LEADERSHIP, LEARNING, LENDERS, LEVEL OF DEBT, LICENSE, LICENSES, LIFETIME, LIMITED ACCESS, LONG-TERM PLANNING, LOSS AVERSION, LOW INCOME, LOW INCOMES, LOW-INCOME, LOWER INCOME, MARKET ECONOMY, MARKETING, MASS MEDIA, MATERIAL, MFIS, MICROFINANCE, MOBILE PHONES, PENSION FUNDS, PHOTOS, PILOT TESTING, POLICY DESIGN, PRECAUTIONARY SAVING, PRIVATE PENSION, PRIVATE PENSION PLANS, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PROCUREMENT, PROSPERITY, PUBLIC GOOD, PUBLIC POLICY, PUBLIC SUBSIDIES, QUERIES, QUESTIONNAIRE, QUESTIONNAIRES, RADIO, RECEIPT, REMITTANCES, RESULT, RESULTS, RETIREMENT, RETIREMENT INCOME, RETIREMENT SAVING, RISK MANAGEMENT, SAVING BEHAVIOR, SAVINGS, SCAMS, SCHOOLS, SEARCH, SECURITIES, SENIOR, SOCIAL DEVELOPMENT, SOCIAL NETWORKS, SOCIAL PROTECTION, SOCIAL RISK MANAGEMENT, SOCIAL SECURITY, SOCIAL SECURITY CONTRIBUTIONS, STAKEHOLDERS, SUPPORT PROGRAMS, TARGET POPULATIONS, TARGETS, TECHNICAL SUPPORT, TELEPHONE, TIME PERIODS, TRANSLATION, USES, VALUABLE, VULNERABLE GROUPS,
Online Access:	http://documents.worldbank.org/curated/en/2013/06/18054980/financial-capability-low-and-middle-income-countries-measurement-evaluation https://hdl.handle.net/10986/16293
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