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The Status and Development of Financial Literacy in Hungary

Author

Listed:
  • Eszter Hergar

    (Magyar Nemzeti Bank)

  • Levente Kovacs

    (University of Miskolc, Hungarian Banking Association)

  • Erzsebet Nemeth

    (Budapest Metropolitan University)

Abstract

This essay provides an overview of the measures implemented in the last ten years to improve financial literacy and awareness, presenting the steps taken by institutions, civil organisations and the government to promote and develop financial literacy and awareness, the specific topics addressed and the degree of success. Comparative international surveys indicate an improvement in the public's financial awareness, mainly in terms of financial knowledge, but further progress is needed in the area of financial attitudes and the application of skills.

Suggested Citation

  • Eszter Hergar & Levente Kovacs & Erzsebet Nemeth, 2024. "The Status and Development of Financial Literacy in Hungary," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 23(1), pages 5-28.
    • Handle: RePEc:mnb:finrev:v:23:y:2024:i:1:p:5-28
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    More about this item

    Keywords

    financial literacy development programmes; financial education; financial awareness; Hungary;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • I2 - Health, Education, and Welfare - - Education

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