Chapter

Learning from the Experience of Organisation for Economic Co-operation and Development Countries: Lessons for Policy, Programs, and Evaluations

Edited by Barbara A. Smith and Fiona Stewart

in Overcoming the Saving Slump

Published by University of Chicago Press

Published in print March 2009 | ISBN: 9780226497099
Published online February 2013 | e-ISBN: 9780226497105 | DOI: https://dx.doi.org/10.7208/chicago/9780226497105.003.0014
Learning from the Experience of Organisation for Economic Co-operation and Development Countries: Lessons for Policy, Programs, and Evaluations

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This chapter describes the findings of financial literacy surveys in selected Organization for Economic Co-operation and Development (OECD) countries and relevant studies in behavioral economics, examining their implications for the design and implementation of financial education programs. The evaluations of financial education programs are specifically addressed. Surveys across OECD countries reveal low levels of financial literacy across the board and of pension-related financial literacy specifically. The chapter also shows that individuals are not saving enough for retirement. The experience of the OECD's Financial Education Project has shown that insights into improving financial education programs can be observed in the responses to financial literacy surveys and in the research based on behavioral economics. The provision of financial education can benefit from the findings of both financial literacy surveys and behavioral economics research.

Keywords: financial literacy; OECD; behavioral economics; financial education programs; pension; retirement

Chapter.  8477 words.  Illustrated.

Subjects: Public Economics

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