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 Federati...

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Bibliographic Details
Main Authors:	Holzmann, Robert, Mulaj, Florentina, Perotti, Valeria
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2013
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 http://hdl.handle.net/10986/16293

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Summary:	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.

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

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