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OECD/INFE 2020 International Survey of Adult Financial Literacy
Twenty-six countries and economies across three continents (Asia, Europe and Latin America), including 12 OECD member countries, participated in this international survey of financial literacy, using the updated 2018 OECD/INFE toolkit to collect cross-comparable data.1 These survey results report the overall financial literacy scores, as computed following the OECD/INFE methodology and definition, and their elements of knowledge, behaviour and attitudes. Patterns of product awareness and holding are reported as an illustration of financial inclusion. A comprehensive section on the outcomes of financial education explores elements of financial resilience (defined by the availability of financial cushion, coping with a financial shortfall and stress, and behavioural traits promoting long-term planning and saving, keeping control over money, taking care with expenditure and avoiding financial fraud) and reports on a novel score of financial well-being. In response to the unprecedented crisis currently unfolding due to the COVID-19 pandemic this section also describes some of the counter measures taken by policy makers and some recommendations of further solutions/initiatives that can support consumers in difficult economic times. A section with tailored policy recommendations is offered at the end.
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