Addressing a call by G20 Leaders to develop practical tools for financial literacy measurement, the OECD/INFE has conducted an international data collection exercise to measure financial literacy and financial inclusion. A total of 51,650 adults aged 18 to 79 from 30 countries and economies participated in the survey. This presentation provides an overview of the survey results. It was presented at the Global Symposium on Financial Education in Auckland, New Zealand, on 12 October 2016.
Access the full survey results http://www.oecd.org/finance/financial-education/oecd-infe-survey-adult-financial-literacy-competencies.htm
Flore-Anne Messy: Measuring financial literacy - NZ OECD Global Symposiumcffc_nz
Flore-Anne Messy is Head of the Financial Affairs Division, Directorate for Financial and Enterprise Affairs, OECD, and Executive Secretary of the OECD/INFE. She presented the results of the OECD/INFE International Survey of Adult Financial Literacy Competencies to the NZ OECD Global Symposium on Financial Education 2016 in Auckland.
PISA 2018 - Are Students Smart About Money?EduSkills OECD
Over the past decades, both developed and developing countries have become concerned about the level of financial literacy amongst their citizens, and particularly amongst young people. This concern initially stemmed from worries about the potential impact of shrinking welfare systems and employment-related benefits, shifting demographics, and the increased sophistication and expansion of financial services. The indirect impact of the Covid-19 crisis on individuals’ income and savings (both current and future) and heightened uncertainty in the economic and financial landscape make financial literacy even more crucial for ensuring that citizens are financially resilient.Many 15-year-olds face financial decisions and are already consumers of financial services. They are likely to face growing complexity and risks in the financial marketplace as they move into adulthood. Since better knowledge and understanding of financial concepts and risks could help improve financial decision making amongst adults and young people, financial literacy is now globally recognised as an essential life skill.A growing number of countries provide financial education in school. To minimise curriculum overload, countries typically integrate financial literacy into other subjects and existing courses, rather than introducing an additional subject into an already crowded programme of study. Students may improve their financial skills by acquiring transversal competencies, such as problem solving and critical thinking, in other subjects; at the same time, financial problems can be used as a real-life context for teaching mathematics and other subjects.Thirteen OECD countries and economies and seven partner countries participated in the PISA 2018 assessment of financial literacy. Some 117 000 15-year-old students sat the test, representing around 13.5 million students.
7 May 2020 - This PPT presents the results of the third OECD PISA assessment of the financial literacy of 15-year-old students. Find out more at http://www.oecd.org/finance/launch-pisa-financial-literacy-results-2018.htm
This powerpoint providing highlights of data and analysis from the OECD PISA 2012 financial literacy assessment of 15-year-olds was presented at a launch event in Paris on the 9 July 2014 by Adrian Blundell-Wignall, Flore-Anne Messy and Michael Davidson in the presence of H.M. Queen Máxima of the Netherlands, UN Secretary General’s Special Advocate for Inclusive Finance for Development and Honorary Patron of the G20 Global Partnership on Financial Inclusion and OECD Secretary-General Angel Gurría.
Find out more and access the full results at http://www.oecd.org/pisa/keyfindings/pisa-2012-results-volume-vi.htm or http://www.oecd.org/daf/fin/financial-education/2014-launch-pisa-financial-literacy-students.htm
This presentation provides an overview of PISA 2015 Results (Volume IV): Students’ Financial Literacy. This assessment explores students’ experience with and knowledge about money and provides an overall picture of 15-year-olds’ ability to apply their accumulated knowledge and skills to real-life situations involving financial issues and decisions. Find the publication here http://www.oecd.org/education/pisa-2015-results-volume-iv-9789264270282-en.htm
7 May 2020 - The Covid-19 crisis has lain bare the economic and financial uncertainty and precarity that many adults face; the 15-year-old students who sit the PISA assessment will soon leave compulsory education and must take this uncertainty into account as they take decisions about further education and career pathways. Find the results of the 3rd OECD PISA financial literacy assessment of students at http://www.oecd.org/daf/pisa-2018-results-volume-iv-48ebd1ba-en.htm.
The Recommendation on Financial Literacy was adopted by the OECD Council on 29 October 2020, during the OECD Ministerial Council Meeting. It presents a single, comprehensive, instrument on financial literacy to assist governments, other public authorities, and relevant stakeholders in their efforts to design, implement and evaluate financial literacy policies. It is part of a holistic approach to financial-consumer issues, where financial literacy, together with improved financial access, adequate consumer protection, and regulatory frameworks, are expected to support financial resilience and well-being. Find out more about OECD work on financial literacy at www.oecd.org/financial/education
Flore-Anne Messy: Measuring financial literacy - NZ OECD Global Symposiumcffc_nz
Flore-Anne Messy is Head of the Financial Affairs Division, Directorate for Financial and Enterprise Affairs, OECD, and Executive Secretary of the OECD/INFE. She presented the results of the OECD/INFE International Survey of Adult Financial Literacy Competencies to the NZ OECD Global Symposium on Financial Education 2016 in Auckland.
PISA 2018 - Are Students Smart About Money?EduSkills OECD
Over the past decades, both developed and developing countries have become concerned about the level of financial literacy amongst their citizens, and particularly amongst young people. This concern initially stemmed from worries about the potential impact of shrinking welfare systems and employment-related benefits, shifting demographics, and the increased sophistication and expansion of financial services. The indirect impact of the Covid-19 crisis on individuals’ income and savings (both current and future) and heightened uncertainty in the economic and financial landscape make financial literacy even more crucial for ensuring that citizens are financially resilient.Many 15-year-olds face financial decisions and are already consumers of financial services. They are likely to face growing complexity and risks in the financial marketplace as they move into adulthood. Since better knowledge and understanding of financial concepts and risks could help improve financial decision making amongst adults and young people, financial literacy is now globally recognised as an essential life skill.A growing number of countries provide financial education in school. To minimise curriculum overload, countries typically integrate financial literacy into other subjects and existing courses, rather than introducing an additional subject into an already crowded programme of study. Students may improve their financial skills by acquiring transversal competencies, such as problem solving and critical thinking, in other subjects; at the same time, financial problems can be used as a real-life context for teaching mathematics and other subjects.Thirteen OECD countries and economies and seven partner countries participated in the PISA 2018 assessment of financial literacy. Some 117 000 15-year-old students sat the test, representing around 13.5 million students.
7 May 2020 - This PPT presents the results of the third OECD PISA assessment of the financial literacy of 15-year-old students. Find out more at http://www.oecd.org/finance/launch-pisa-financial-literacy-results-2018.htm
This powerpoint providing highlights of data and analysis from the OECD PISA 2012 financial literacy assessment of 15-year-olds was presented at a launch event in Paris on the 9 July 2014 by Adrian Blundell-Wignall, Flore-Anne Messy and Michael Davidson in the presence of H.M. Queen Máxima of the Netherlands, UN Secretary General’s Special Advocate for Inclusive Finance for Development and Honorary Patron of the G20 Global Partnership on Financial Inclusion and OECD Secretary-General Angel Gurría.
Find out more and access the full results at http://www.oecd.org/pisa/keyfindings/pisa-2012-results-volume-vi.htm or http://www.oecd.org/daf/fin/financial-education/2014-launch-pisa-financial-literacy-students.htm
This presentation provides an overview of PISA 2015 Results (Volume IV): Students’ Financial Literacy. This assessment explores students’ experience with and knowledge about money and provides an overall picture of 15-year-olds’ ability to apply their accumulated knowledge and skills to real-life situations involving financial issues and decisions. Find the publication here http://www.oecd.org/education/pisa-2015-results-volume-iv-9789264270282-en.htm
7 May 2020 - The Covid-19 crisis has lain bare the economic and financial uncertainty and precarity that many adults face; the 15-year-old students who sit the PISA assessment will soon leave compulsory education and must take this uncertainty into account as they take decisions about further education and career pathways. Find the results of the 3rd OECD PISA financial literacy assessment of students at http://www.oecd.org/daf/pisa-2018-results-volume-iv-48ebd1ba-en.htm.
The Recommendation on Financial Literacy was adopted by the OECD Council on 29 October 2020, during the OECD Ministerial Council Meeting. It presents a single, comprehensive, instrument on financial literacy to assist governments, other public authorities, and relevant stakeholders in their efforts to design, implement and evaluate financial literacy policies. It is part of a holistic approach to financial-consumer issues, where financial literacy, together with improved financial access, adequate consumer protection, and regulatory frameworks, are expected to support financial resilience and well-being. Find out more about OECD work on financial literacy at www.oecd.org/financial/education
This presentation by Flore-Anne Messy was made at the first session of the 2nd OECD-GFLEC Global Research Symposium to Advance Financial Literacy on 6 November 2014, which addressed cutting-edge policy issues and research ideas to advance the global financial literacy agenda. Find out more at http://www.oecd.org/daf/fin/financial-education/oecd-infe-gflecsymposiumfinancialliteracy.htm
Skills are the foundation upon which the Netherlands must continue to build its growth and prosperity. Following an extended slowdown in the wake of the global economic crisis, the Netherlands has returned to growth. Employment and labour market participation are both strong, and the Netherlands continues to enjoy a good quality of life with a comparatively wealthy society and comparatively low income inequality. Despite this success, the Netherlands cannot afford to be complacent. Ensuring that the Netherlands continues to be a prosperous and inclusive society in the future will mean ensuring that the Netherlands has a highly skilled population that engages in continuous skills development in adulthood, and finds ways to put those skills to effective use in the economy and society.
Presentation at the Brussels launch event of European Money Week by Prof. Annamaria Lusardi of the George Washington School of Business, Academic Director, Global Financial Literacy Excellence Centre (GFLEC).
Are we overpaying or Underpaying? 2015 Vietnam Undergrad Wage ExpectionMarketIntello
Students’ wage and employment expectations are influential in their first job selection after graduation. The emphasis of this study is on the formation of student wage and employment expectations, as well as comparing the expectations of students in the two biggest cities of Vietnam – Hanoi and Ho Chi Minh City.
SME and Entrepreneurship Access to Finance: An OECD ScoreboardOECDglobal
Presented at the July 2012 Meeting of the OECD-MENA Initiative's Working Group on SME Policy, Entrepreneurship and Human Capital Development http://www.oecd.org/mena/investment
This slide deck was designed to accompany a video webcast that included an interactive discussion by a moderator and three panelists. To view that webcast, please go to Remaking banking: http://bit.ly/17FCITo
Remaking risk management in banking
Origination date: Tuesday, 30 July 2013
Benchmarking your risk-management practices against developments in the banking industry is crucial to staying competitive. An annual study conducted by the Institute of International Finance (IIF) and EY can help.
This year’s survey, “Remaking banking: risk management five years after the crisis”, includes responses from 74 firms across 36 countries.
Join us for a live, interactive discussion about how risk-management priorities are changing and how your organization compares.
The agenda includes:
· Assessing risk culture
· Linking business decisions to risk appetite
· IT and data improvement investments
· How Basel III is driving business model changes
Panelists
Rick Waugh, Scotiabank, President and Chief Executive Officer, Chairman of the IIF's Committee on Governance and Industry Practices and Vice Chairman of the IIF Board
Patricia Jackson, Ernst & Young LLP, Leader of Financial Regulation Practice and member of the Global Regulatory Leadership Network
Hank Prybylski, Ernst & Young LLP, US Financial Services Office Advisory Leader and Leader of Financial Services Risk Management
You are welcome to join the on-demand version of this interactive discussion and learn about recent changes in the banking industry and how to position your organization for the future by going to Remaking banking: http://bit.ly/17FCITo
This webcast is part of an ongoing series. Register for any webcast and you will be asked if you want to receive invitations to future webcasts.
Guest lecture presented to masters degree classes at Trinity College Dublin. This presentation provides an overview of the importance of financial services to an economy. It outlines the objectives of central banks and how they manage a financial crisis. Some of the risks related to global financial stability are considered, as are some of the implications of emerging technologies in finance. In addition the presentation emphasises the critical importance of consumer protection and of fostering a consumer centric culture. Finally the criticality of strong leadership and values within the industry are discussed, and the need for consumers and businesses to be financially astute and to be aware and careful of herd mentality.
EY's European Banking Barometer – 2015 identifies the views of 226 senior European bankers across 11 markets regarding their views of the macro-economic outlook and the impact they think it will have on the banking industry in 2015.
For further information visit: www.ey.com/ebb
Education Fast Forward: Turning School Performance to Economic SuccessEduSkills OECD
Much has been written about the role education plays in the success of economies and the relationship between school performance in today’s economic climate could not be more important. The relationship between learning today and the needs of society are intertwined in a complex world where global economies are only one dimension. Conflict and economic stability and education may well be forming new equations for individual students as well as national systems.
Striking the balance between technical and liberal arts education: will a lib...University of Limerick
A recent survey of chief executive officers by the Association of American Colleges and Universities found that 74% believed that graduates from liberal arts degrees were better prepared for successful business careers than those with technical degrees. There was a general acknowledgment that liberal arts graduates have been trained to think clearly, solve problems and sell their ideas with good communication skills – all prerequisites for advancement in a rapidly changing workplace where technical skills are quickly outdated.
At the same time, the rising cost of a university education and a belief that so-called STEM subjects (science, technology, engineering and mathematics) are the best passport into high-paying jobs in the knowledge economy have driven students away from liberal arts into the vocational and technical disciplines where the payback on investment seems more obvious. The most recent OECD report, ‘Education at a Glance 2017’, concludes that ‘STEM-related fields…benefit from higher employment rates, reflecting the demands of an increasingly innovation-driven society’.
University league tables are fashionable because they sell newspapers and influence student choice. They rank universities using quantitative measures of variables presumed to indicate ‘quality’: average citations per faculty member, faculty-student ratio, percentage of international students and faculty, etc. A liberal arts league table which uses the same variables to rank a ‘club’ of designated liberal arts universities is a pointless vanity. However, if the liberal arts universities were ranked on the basis of the creativity of their faculty and graduates, then such a league table might drive the same quality improvements in the liberal arts that research-based league tables have driven in technical universities.
Australian investor trends every financial adviser should knownetwealthInvest
Discover how 1,000 Australian investors are managing their portfolios and their views on investment advice, emerging investment themes such as ESG, and the effect of technology on investing, from Andy Sowerby, Managing Director of Legg Mason Australia and New Zealand.
This presentation by Flore-Anne Messy was made at the first session of the 2nd OECD-GFLEC Global Research Symposium to Advance Financial Literacy on 6 November 2014, which addressed cutting-edge policy issues and research ideas to advance the global financial literacy agenda. Find out more at http://www.oecd.org/daf/fin/financial-education/oecd-infe-gflecsymposiumfinancialliteracy.htm
Skills are the foundation upon which the Netherlands must continue to build its growth and prosperity. Following an extended slowdown in the wake of the global economic crisis, the Netherlands has returned to growth. Employment and labour market participation are both strong, and the Netherlands continues to enjoy a good quality of life with a comparatively wealthy society and comparatively low income inequality. Despite this success, the Netherlands cannot afford to be complacent. Ensuring that the Netherlands continues to be a prosperous and inclusive society in the future will mean ensuring that the Netherlands has a highly skilled population that engages in continuous skills development in adulthood, and finds ways to put those skills to effective use in the economy and society.
Presentation at the Brussels launch event of European Money Week by Prof. Annamaria Lusardi of the George Washington School of Business, Academic Director, Global Financial Literacy Excellence Centre (GFLEC).
Are we overpaying or Underpaying? 2015 Vietnam Undergrad Wage ExpectionMarketIntello
Students’ wage and employment expectations are influential in their first job selection after graduation. The emphasis of this study is on the formation of student wage and employment expectations, as well as comparing the expectations of students in the two biggest cities of Vietnam – Hanoi and Ho Chi Minh City.
SME and Entrepreneurship Access to Finance: An OECD ScoreboardOECDglobal
Presented at the July 2012 Meeting of the OECD-MENA Initiative's Working Group on SME Policy, Entrepreneurship and Human Capital Development http://www.oecd.org/mena/investment
This slide deck was designed to accompany a video webcast that included an interactive discussion by a moderator and three panelists. To view that webcast, please go to Remaking banking: http://bit.ly/17FCITo
Remaking risk management in banking
Origination date: Tuesday, 30 July 2013
Benchmarking your risk-management practices against developments in the banking industry is crucial to staying competitive. An annual study conducted by the Institute of International Finance (IIF) and EY can help.
This year’s survey, “Remaking banking: risk management five years after the crisis”, includes responses from 74 firms across 36 countries.
Join us for a live, interactive discussion about how risk-management priorities are changing and how your organization compares.
The agenda includes:
· Assessing risk culture
· Linking business decisions to risk appetite
· IT and data improvement investments
· How Basel III is driving business model changes
Panelists
Rick Waugh, Scotiabank, President and Chief Executive Officer, Chairman of the IIF's Committee on Governance and Industry Practices and Vice Chairman of the IIF Board
Patricia Jackson, Ernst & Young LLP, Leader of Financial Regulation Practice and member of the Global Regulatory Leadership Network
Hank Prybylski, Ernst & Young LLP, US Financial Services Office Advisory Leader and Leader of Financial Services Risk Management
You are welcome to join the on-demand version of this interactive discussion and learn about recent changes in the banking industry and how to position your organization for the future by going to Remaking banking: http://bit.ly/17FCITo
This webcast is part of an ongoing series. Register for any webcast and you will be asked if you want to receive invitations to future webcasts.
Guest lecture presented to masters degree classes at Trinity College Dublin. This presentation provides an overview of the importance of financial services to an economy. It outlines the objectives of central banks and how they manage a financial crisis. Some of the risks related to global financial stability are considered, as are some of the implications of emerging technologies in finance. In addition the presentation emphasises the critical importance of consumer protection and of fostering a consumer centric culture. Finally the criticality of strong leadership and values within the industry are discussed, and the need for consumers and businesses to be financially astute and to be aware and careful of herd mentality.
EY's European Banking Barometer – 2015 identifies the views of 226 senior European bankers across 11 markets regarding their views of the macro-economic outlook and the impact they think it will have on the banking industry in 2015.
For further information visit: www.ey.com/ebb
Education Fast Forward: Turning School Performance to Economic SuccessEduSkills OECD
Much has been written about the role education plays in the success of economies and the relationship between school performance in today’s economic climate could not be more important. The relationship between learning today and the needs of society are intertwined in a complex world where global economies are only one dimension. Conflict and economic stability and education may well be forming new equations for individual students as well as national systems.
Striking the balance between technical and liberal arts education: will a lib...University of Limerick
A recent survey of chief executive officers by the Association of American Colleges and Universities found that 74% believed that graduates from liberal arts degrees were better prepared for successful business careers than those with technical degrees. There was a general acknowledgment that liberal arts graduates have been trained to think clearly, solve problems and sell their ideas with good communication skills – all prerequisites for advancement in a rapidly changing workplace where technical skills are quickly outdated.
At the same time, the rising cost of a university education and a belief that so-called STEM subjects (science, technology, engineering and mathematics) are the best passport into high-paying jobs in the knowledge economy have driven students away from liberal arts into the vocational and technical disciplines where the payback on investment seems more obvious. The most recent OECD report, ‘Education at a Glance 2017’, concludes that ‘STEM-related fields…benefit from higher employment rates, reflecting the demands of an increasingly innovation-driven society’.
University league tables are fashionable because they sell newspapers and influence student choice. They rank universities using quantitative measures of variables presumed to indicate ‘quality’: average citations per faculty member, faculty-student ratio, percentage of international students and faculty, etc. A liberal arts league table which uses the same variables to rank a ‘club’ of designated liberal arts universities is a pointless vanity. However, if the liberal arts universities were ranked on the basis of the creativity of their faculty and graduates, then such a league table might drive the same quality improvements in the liberal arts that research-based league tables have driven in technical universities.
Australian investor trends every financial adviser should knownetwealthInvest
Discover how 1,000 Australian investors are managing their portfolios and their views on investment advice, emerging investment themes such as ESG, and the effect of technology on investing, from Andy Sowerby, Managing Director of Legg Mason Australia and New Zealand.
Emerging paradigms in DDC: Going beyond financial flowsOECDregions
Presentation on emerging paradigms in Decentralised Development Cooperation, made at the Committee of the Regions, Belgium, Brussels on 9 June 2017.
More information: http://www.oecd.org/regional/regional-policy/OECD-project-on-decentralised-development-co-operation.htm
Investment and competitiveness in TajikistanOECDglobal
The OECD Tajikistan Project is working towards enhancing country competitiveness: by developing targeted and practical action plans for reforms; and following-up on implementation and building capacity.
This presentation highlights the main findings of the report Mapping of Investment Promotion Agencies in OECD Countries. This publication provides a benchmarking and analysis of IPAs based on a comprehensive survey jointly designed with the Inter-American Development Bank.
The report was launched at the 3rd Meeting of the OECD Investment Promotion Agency (IPA) Network on 22 October 2018 in Paris France.
For more information please visit http://www.oecd.org/corruption/investment-promotion-and-facilitation.htm
This Credit Suisse Emerging Consumer Survey Databook provides granular detail of the market research that underpins the conclusions and themes highlighted in the Credit Suisse Emerging Consumer Survey 2012, a comprehensive and exclusive study of the consumption patterns and plans of individuals residing in eight key economies across the emerging world. Specifically, the markets we have incorporated in this survey are China, India, Brazil, Russia, Saudi Arabia, Egypt, Indonesia and Turkey. In total, these markets account for over 3.3 billion people.
- Download the 2012 Emerging Consumer Survey Databook (PDF): http://bit.ly/1durZ4B
- Order the print version of the databook: http://bit.ly/1mwfKre
- Visit the Credit Suisse Research Institute website: http://bit.ly/18Cxa0p
This presentation by Chiara Monticone was made during the 1st roundtable at the High-level Conference on Global and European Trends in Financial Education held on 22-23 May 2014 in Istanbul, which explored the role(s) of the private and not-for-profit sectors in financial education, financial literacy and innovation for young people and financial education for migrant workers and their families. Find out more at http://www.oecd.org/daf/fin/financial-education/2014-conference-global-european-trends-financial-education.htm
An Overview on the N10 Countries by Dragon SourcingJohn William
Dragon Sourcing brings to you an overview on the N10 countries that includes South Korea, Indonesia, Mexico, Turkey, Philippines, Vietnam, Bangladesh, Egypt, Pakistan, and Nigeria. Find details at: https://www.dragonsourcing.com
This presentation by Morris Kleiner (University of Minnesota), was made during the discussion “Competition and Regulation in Professions and Occupations” held at the Working Party No. 2 on Competition and Regulation on 10 June 2024. More papers and presentations on the topic can be found out at oe.cd/crps.
This presentation was uploaded with the author’s consent.
This presentation comprises highlights from the publication OECD Competition Trends 2024 published in Paris on 6 March 2024 during the OECD Competition Open Day. The full publication can be accessed at oe.cd/comp-trends.
This presentation by Cristina Camacho, Head of Cabinet and Head of International Relations, Portuguese Competition Authority, was made during the discussion “Use of Economic Evidence in Cartel Cases” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/egci.
This presentation was uploaded with the author’s consent.
This presentation by William E. Kovacic, Global Competition Professor of Law and Policy and Director, Competition Law Center, The George Washington University, was made during the discussion “Ex-post Assessment of Merger Remedies” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/eamr.
This presentation was uploaded with the author’s consent.
This presentation by John E. Kwoka, Neal F. Finnegan Distinguished Professor of Economics, Northeastern University, was made during the discussion “Ex-post Assessment of Merger Remedies” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/eamr.
This presentation was uploaded with the author’s consent.
This presentation by Amelia Fletcher CBE, Professor of Competition Policy, University of East Anglia, was made during the discussion “Ex-post Assessment of Merger Remedies” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/eamr.
This presentation was uploaded with the author’s consent.
This presentation by the OECD Secretariat was made during the discussion “Ex-post Assessment of Merger Remedies” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/eamr.
This presentation was uploaded with the author’s consent.
This presentation by John Davies, Member, UK Competition Appeal Tribunal, was made during the discussion “Use of Economic Evidence in Cartel Cases” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/egci.
This presentation was uploaded with the author’s consent.
This presentation by Simon Roberts, Professor, Centre for Competition, Regulation and Economic Development, University of Johannesburg, was made during the discussion “Use of Economic Evidence in Cartel Cases” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/egci.
This presentation was uploaded with the author’s consent.
This presentation by Serbia was made during the discussion “Alternatives to Leniency Programmes” held at the 22nd meeting of the OECD Global Forum on Competition on 7 December 2023. More papers and presentations on the topic can be found out at oe.cd/atlp.
This presentation was uploaded with the author’s consent.
This presentation by Italy was made during the discussion “Alternatives to Leniency Programmes” held at the 22nd meeting of the OECD Global Forum on Competition on 7 December 2023. More papers and presentations on the topic can be found out at oe.cd/atlp.
This presentation was uploaded with the author’s consent.
This presentation by Daniel CRANE, Richard W. Pogue Professor of Law, University of Michigan, was made during the discussion “Out-of-Market Efficiencies in Competition Enforcement” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/omee.
This presentation was uploaded with the author’s consent.
This presentation by John DAVIES, Member, Competition Appeal Tribunal UK, was made during the discussion “Out-of-Market Efficiencies in Competition Enforcement” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/omee.
This presentation was uploaded with the author’s consent.
This presentation by Nancy ROSE, Head of the Department of Economics and Charles P. Kindleberger Professor of Applied Economics, Massachusetts Institute of Technology (MIT), was made during the discussion “Out-of-Market Efficiencies in Competition Enforcement” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/omee.
This presentation was uploaded with the author’s consent.
This presentation by Nicole ROSENBOOM, Principal, Oxera Consulting LLP, was made during the discussion “Out-of-Market Efficiencies in Competition Enforcement” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/omee.
This presentation was uploaded with the author’s consent.
This presentation by Anna TZANAKI, Lecturer in Law, University of Leeds, was made during the discussion “Serial Acquisitions and Industry Roll-ups” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/sair.
This presentation was uploaded with the author’s consent.
This presentation by Sha'ista GOGA, Director, Acacia Economics, was made during the discussion “Serial Acquisitions and Industry Roll-ups” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/sair.
This presentation was uploaded with the author’s consent.
This presentation by Ioannis KOKKORIS, Chair in Competition Law and Economics and Director, Centre for Commercial Law Studies, Queen Mary University of London, was made during the discussion “Serial Acquisitions and Industry Roll-ups” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/sair.
This presentation was uploaded with the author’s consent.
This presentation by the OECD Secretariat was made during the discussion “Serial Acquisitions and Industry Roll-ups” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/sair.
This presentation was uploaded with the author’s consent.
This presentation by Simonetta VEZZOSO, Associate Professor, Economics Department, University of Trento, was made during the discussion “Competition and Innovation - The Role of Innovation in Enforcement Cases” held at the 141st meeting of the OECD Competition Committee on 5 December 2023. More papers and presentations on the topic can be found out at oe.cd/rbci.
This presentation was uploaded with the author’s consent.
More from OECD Directorate for Financial and Enterprise Affairs (20)
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
What is the point of small housing associations.pptxPaul Smith
Given the small scale of housing associations and their relative high cost per home what is the point of them and how do we justify their continued existance
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OECD INFE International Survey of Adult Financial Literacy Competencies
1. FIRST RESULTS OF THE OECD/INFE
INTERNATIONAL SURVEY OF ADULT
FINANCIAL LITERACY COMPETENCIES
Auckland, 12 October 2016
Flore-Anne Messy
Head of DAF/FIN Division, OECD
Executive Secretary INFE
4. Survey instrument to capture
financial literacy…
• …a combination of awareness,
knowledge, skill, attitude and
behaviour necessary to make
sound financial decisions and
ultimately achieve individual
financial well-being
…in a representative sample of
adults, and available in a Toolkit
• Questionnaire (core) and optional
questions
• Methodological notes; Interviewer
briefings
G20 Leaders welcomed and
supported its use in 2013
It was updated in 2015
to include new areas
OECD / INFE survey to measure
financial literacy and financial inclusion
5. Results comparable across countries and over time
OECD/INFE financial literacy survey
…as well as on its relationship with
Fin Behaviour
9Q
Budgeting, paying
bills on time, active
saving, choosing
products, retirement
planning
Fin knowledge
7Q
Simple and compound
interest, Inflation, time
value of money, Risk and
return, Risk
diversification
Fin attitudes
5Q
Propensity to
save vs spend,
Time
preference
Financial inclusion
Financial products
awareness, use and
recent choice
Socio-demographics
Age, Gender,
Education, Work,
Income
New areas
Wellbeing; Fraud;
Self-assessment of
financial knowledge
7. 30 countries and
economies
(including 17 OECD
countries) took part.
In total, 51,650
adults aged 18 to
79 were interviewed
using the same core
questions, in a total
of 30 languages.
Analysis looks at :
• Responses to
different questions
• Minimum target
scores achieved
in financial
knowledge,
behaviour and
attitudes
In brief
8. Albania Jordan
Austria Korea
Belarus Latvia
Belgium Lithuania
Brazil Malaysia
British Virgin Islands Netherlands
Canada New Zealand
Croatia Norway
Czech Republic Poland
Estonia Portugal
Finland Russian Federation
France South Africa
Georgia Thailand
Hong Kong, China Turkey
Hungary UK
International coverage:
30 countries across Asia Pacific,
Europe, Africa, North and South America
9. On average, just 56% of adults across participating countries and
economies achieved the minimum target score of at least 5 out of 7
(63% across OECD countries)
Many adults are currently unable to reach the
minimum target score on financial knowledge
56%
62%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
SouthAfrica
Malaysia
BritishVirginIslands
Belarus
Thailand
Albania
RussianFederation
Croatia
Jordan
UnitedKingdom
Brazil
CzechRepublic
Poland
Georgia
Average,allcountries
Turkey
France
Hungary
Belgium
Lithuania
Portugal
Canada
Average,OECDcountries
NewZealand
Netherlands
Austria
Latvia
Norway
Finland
Estonia
Korea
HongKong(China)
10. On average, only 58% could calculate
a simple interest on savings (65%
OECD)
On average, only 42% of adults
are aware of the additional
benefits of interest compounding
on savings (48% OECD)
Only about two in three adults were
aware that it is possible to reduce
investment risk by buying a range of
different stocks
Adults particularly struggle with
basic financial knowledge and concepts
11. The distribution of knowledge varies
0%
10%
20%
30%
40%
Korea
Latvia
Lithuania
Malaysia
Netherlands
NewZealand
Norway
Poland
0 1 2 3 4 5 6 7
12. And women struggle with financial knowledge more
than men, on average, and in many countries
(percentage of women and men achieving target minimum score)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
SouthAfrica
BVI
Jordan
UnitedKingdom
Brazil
Canada
Georgia
Ave,allcountries
Turkey
Netherlands
NewZealand
Belgium
Lithuania
France
Portugal
Norway
Ave,OECDcountries
Austria
Finland
Korea
HongKong(China)
Female Male
Only statistically significant differences shown
13. Just one in two (51%) respondents across all participating countries
and economies achieved the minimum target score of at least six out of
nine on financial behavior (54% OECD)
Only about half of adults reach
the minimum target score on behaviour
51%
54%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Hungary
Poland
Georgia
Brazil
Turkey
Estonia
Croatia
CzechRepublic
Belarus
RussianFederation
Albania
Netherlands
Latvia
Lithuania
Average,allcountries
Average,OECD…
UnitedKingdom
Malaysia
Korea
Norway
Jordan
NewZealand
Thailand
HongKong(China)
Portugal
Canada
Austria
Belgium
Finland
BritishVirginIslands
France
14. The weakest areas of financial behaviour across these
measures appear to be related to budgeting, planning ahead,
choosing products and using independent advice
There are several beneficial behaviours that are
(perhaps surprisingly) uncommon
On average, only 60% of adults
reported having a household budget
(57% OECD); and only about 50% set
long-term goals and tried to achieve
them (51% OECD)
Among those who had chosen a
financial product in the last two years,
only 44% made an attempt to shop
around on average (46% OECD), and
only 19% used independent
information (20% OECD)
16. 1in 5 borrowed to make ends meet in the
last 12 months, on average
0%
10%
20%
30%
40%
50%
60%
70%
Belgium
UnitedKingdom
Norway
HongKong(China)
Hungary
NewZealand
Austria
Korea
France
CzechRepublic
Poland
Netherlands
Canada
Finland
Average,OECD…
Portugal
Estonia
Brazil
Jordan
Average,allcountries
Croatia
Malaysia
Lithuania
BritishVirginIslands
RussianFederation
Latvia
SouthAfrica
Albania
Belarus
Turkey
Georgia
Thailand
Respondent reported that their income did not always cover their living costs
Respondent borrowed to make ends meet (% of all respondents)
17. When people choose a financial product they
(very) rarely seek independent advice
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Netherlands
Hungary
HongKong(China)
CzechRepublic
Belarus
Croatia
UnitedKingdom
Belgium
Poland
NewZealand
Estonia
Jordan
Lithuania
RussianFederation
Latvia
Average,allcountries
Norway
Average,OECDcountries
Albania
Turkey
Brazil
Georgia
Malaysia
Canada
Austria
Thailand
Finland
France
Portugal
BritishVirginIslands
Korea
1 Some attempt to make informed decision or sought…
2 Used independent information or advice
18. Combining these findings,
levels of financial literacy are low
13.2 out of 21, on average on the minimum target score
0.0
5.0
10.0
15.0
20.0
Poland(11.6)
Belarus(11.7)
Croatia(12.0)
Brazil(12.1)
RussianFederation(12.2)
Malaysia(12.3)
Georgia(12.4)
Hungary(12.4)
Turkey(12.5)
CzechRepublic(12.6)
Jordan(12.6)
Albania(12.7)
Thailand(12.8)
BritishVirginIslands(13.0)
UnitedKingdom(13.1)
Average,allcountries(13.2)
Latvia(13.3)
Estonia(13.4)
Netherlands(13.4)
Lithuania(13.5)
Average,OECDcountries(13.7)
Portugal(14.0)
Austria(14.2)
Belgium(14.3)
Korea(14.4)
NewZealand(14.4)
HongKong,China(14.4)
Canada(14.6)
Norway(14.6)
Finland(14.8)
France(14.9)
Knowledge score Behaviour score Attitude score
20. Importance of starting financial education early
and ideally in schools
• improve financial knowledge overall
• establish sound habits (budget /long term planning)
• bridge the knowledge gender gaps
Selected financial education policy lessons (1):
Addressing overall low level of financial literacy
21. Support financial resilience
and improve active choices of products
• Tools to develop budget and face to face advice on prioritizing expenses
and saving
• Support planning ahead and saving through a mixture of improved
financial knowledge and tools (simulators) as well as nudges (reminders to
save and default option)
• Improve access to information on products (comparison) and to advice
especially in the case of complex investment choices (including for
retirement) – prospect of robo advice if properly regulated
Selected policy lessons (2) :
Address adults’ weakest behaviors
22. Role of financial regulation : especially in the
area of credit to support responsible use and
protect consumers; but also to promote saving
for the long-term (pension systems, taxation)
The economic and financial context :
The current low interest rate and inflation
environment coupled with increased
digitalization of finance may have an impact on
consumers’ attitude and behaviors towards the
short term and overreliance on credit.
Selected policy lessons (3):
The broader picture
24. More detailed analysis of gender differences
Analysis of the potential correlation between
financial inclusion and financial literacy
Analysis of other target groups, such as the self-
employed, older adults, low-income groups
Exploration of the concept of
financial well-being
Report on financial literacy across G20 countries
Future analyses