Financial Education in Asia: Assessment and Recommendations
Yoshino, Naoyuki; Morgan, Peter J.; Wignaraja, Ganeshan | June 2015
Abstract
This paper assesses the case for promoting financial education in Asia. It argues that the benefits of investing in financial education can be substantial. Data are limited, but indicate low financial literacy scores for selected Asian countries. As economies develop, access to financial products and services will increase, but households and small and medium-sized enterprises need to be able to use the products and services wisely and effectively. More effective management of savings and investment can contribute to overall economic growth. Moreover, as societies age and fiscal resources become stretched, households will become increasingly responsible for their own retirement planning. Asia’s evolving experience suggests that more national surveys of financial literacy are needed and that coherent, tailored national strategies for financial education are essential for success.
Citation
Yoshino, Naoyuki; Morgan, Peter J.; Wignaraja, Ganeshan. 2015. Financial Education in Asia: Assessment and Recommendations. © Asian Development Bank Institute. http://hdl.handle.net/11540/9652.Keywords
Examinations
Higher education institutions
Free education
Educational policy
Project finance
Technology assessment
Resources evaluation
Aid evaluation
Economic evaluation
Cost benefit analysis
Public Education
Parent Education
Equity In Education
Educational Policies
Educational Reforms
Quality Education
Quality Education
Levels Of Education
Higher Education Costs
Educational Testing
Educational Surveys
Educational Reforms
Results-Based Monitoring And Evaluation
Public Policy Evaluation
Program Evaluation
Evaluation Criteria
Objective tests
Educational tests and measurements
College preparation programs
College dropouts
Discrimination in higher education
Universities and colleges
Educational accountability
Scholarships
Prediction of dropout behavior
Scholarships
Results mapping
Self-evaluation
Participatory monitoring and evaluation
Educational evaluation
Cost effectiveness
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