Financial education and consumer protection
Survey on measuring financial literacy and financial inclusion
The OECD invited countries to participate in an international data collection exercise for measuring financial literacy and financial inclusion using a core questionnaire designed for global use. The survey ended on 8 July 2016. This core questionnaire is available in the 2015 update of the OECD/INFE Toolkit for measuring financial literacy and financial inclusion. Developed by the OECD/INFE, the first version of the Toolkit was welcomed by G20 leaders in 2013.
Participating countries were requested to collect data from a representative sample of (at least) 1,000 adults and submit the results to the OECD/INFE for analysis. This allows for a comparison of key information about the financial knowledge, attitudes and behaviour of adults, as well as levels of financial inclusion and indicators of financial well-being across a wide range of countries. The survey results will be released on 12 October 2016.
This measurement exercise:
- repeats the first OECD/INFE measurement exercise undertaken in 2010, allowing those countries that have used the core questionnaire previously to track changes across their population and see how these compare with changes in other countries.
- gives all countries the opportunity to participate in an international comparison and benefit from inclusion in the cross-country, comparative analysis undertaken by the OECD/INFE Secretariat.
- provides the opportunity for countries developing or implementing national strategies for financial education to collect reliable baseline data and benchmark their progress against other countries in similar circumstances.
- provides an important signal that participating countries are following international good practice and actively participating in the international financial literacy agenda.
Public authorities and other organisations can also use the OECD/INFE questionnaire contained in the toolkit outside of the timeline proposed and undertake their own analyses, but they will not be included in the planned international analyses or OECD publication.
The 2015 toolkit incorporates:
a core questionnaire designed to capture information about financial behaviour, attitudes and knowledge, in order to assess levels of financial literacy and financial inclusion
optional questions designed to provide more depth on topics such as financial goal setting and experiencing financial scams, which are positioned within the core questionnaire for ease of use
a small set of additional optional questions that may be used to assess communication campaigns, where relevant
detailed annexes covering interviewer briefing and online surveys
a checklist for submitting the data.
DOWNLOAD THE RESULTS
DOCUMENTS AND LINKS
OECD/INFE Survey of Adult Financial Literacy Competencies
OECD-INFE Toolkit for measuring financial literacy and financial inclusion
Measuring Financial Literacy - Pilot results from 14 countries
Framework for the Development of Financial Literacy Baseline Surveys
OECD PISA financial literacy assessment
A preliminary guide to creating financial literacy scores using the data from the OECD/INFE 2015 financial literacy survey is available upon request. Please contact the INFE Secretariat to request a copy.
Ms. Flore-Anne Messy