In 2004, the “Big Three” questions, created by GFLEC Director Annamaria Lusardi and Prof. Olivia Mitchell of the Wharton School, were first fielded in the U.S. Health and Retirement Study. Since then, the exact questions and various variations have been used to measure financial literacy around the world. This page features the findings in 15 countries that have participated in the Financial Literacy Around the World (FLAT World) project. This research has been published in special issues of the Journal of Pension Economics and Finance as well as in Numeracy. Some are working papers.
Financial Literacy Around the World:
In an increasingly risky and globalized marketplace, people must be able to make well-informed financial decisions. New international research demonstrates that financial illiteracy is widespread in both well-developed and rapidly changing markets…