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Financial Education in Latin America and the Caribbean: Rationale, Overview and Way Forward

Author

Listed:
  • Nidia García

    (Banco de la Republica (BRC))

  • Andrea Grifoni

    (OECD)

  • Juan Carlos López

    (Financial Institutions Guarantee Fund of Colombia (Fogafin))

  • Diana Mejía

    (CAF Development Bank of Latin America)

Abstract

Macroeconomic stability and growth in the Latin America and the Caribbean (LAC) region have allowed governments to focus on public policies that build on the complementarities between financial education, inclusion and the development of social capital. Financial education programmes can support the needs of emerging middle classes in managing their finances and benefitting from access to more sophisticated financial markets. They can also be a valuable tool to ensure a more effective financial inclusion of the most vulnerable sectors of the population, and help fight poverty and inequality. L'éducation financière en Amérique latine et dans les Caraïbes : tour d'horizon et perspectives La stabilité et la croissance économique des pays d’Amérique Latine et des Caraïbes ont permis aux gouvernements de la région de concentrer leurs efforts sur la mise en place de politiques publiques qui exploitent la complémentarité entre éducation financière, inclusion financière et développent du capital social. Les programmes dédiés à l’éducation financière ont pour but d’aider les classes moyennes émergentes à gérer leurs budgets et à accéder à des marchés financiers qui deviennent plus sophistiqués. Ces programmes sont aussi importants pour la mise en place d’une inclusion financière plus efficace, ainsi que pour lutter contre la pauvreté et les inégalités.

Suggested Citation

  • Nidia García & Andrea Grifoni & Juan Carlos López & Diana Mejía, 2013. "Financial Education in Latin America and the Caribbean: Rationale, Overview and Way Forward," OECD Working Papers on Finance, Insurance and Private Pensions 33, OECD Publishing.
    • Handle: RePEc:oec:dafaad:33-en
    DOI: 10.1787/5k41zq7hp6d0-en
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Kamer Karakurum-Ozdemir & Melike Kokkizil & Gokce Uysal, 2019. "Financial Literacy in Developing Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 143(1), pages 325-353, May.
    2. María José Roa García & Diana Mejía, 2018. "Introduction," Investigación Conjunta-Joint Research, in: María José Roa García & Diana Mejía (ed.), Financial Decisions of Households and Financial Inclusion: Evidence for Latin America and the Caribbean, edition 1, volume 1, chapter 1, pages 1-12, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    3. Luz María Ferrada & Virginia Montaña, 2022. "Inclusión y alfabetización financiera: el caso de trabajadores estudiantes de nivel superior en Los Lagos, Chile," Estudios Gerenciales, Universidad Icesi, vol. 38(163), pages 211-221, June.
    4. Brenda J. Cude & Swarn Chatterjee & Jamal Tavosi, 2020. "Financial Knowledge, Personality Traits, and Risky Borrowing Behaviors in Iranian Households," Sustainability, MDPI, vol. 12(18), pages 1-16, September.
    5. Di Giannatale, Sonia & Roa, María José, 2016. "Formal Saving in Developing Economies: Barriers, Interventions, and Effects," IDB Publications (Working Papers) 8107, Inter-American Development Bank.
    6. Sonia Di Giannatale & María José Roa, 2016. "Formal Saving in Developing Economies: Barriers, Interventions, and Effects," IDB Publications (Working Papers) 97397, Inter-American Development Bank.

    More about this item

    Keywords

    alphabétisation financière; Amérique latine; Caraïbes; Caribbean; conditional cash transfer programmes; financial education; financial inclusion; financial literacy; inclusion financière; Latin America; poverty reduction; programmes de transfert de fonds sous conditions; réduction de la pauvreté; éducation financière;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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