Consumer Financial Capability: A Comparison of the UK and Ireland

Nuala O’Donnell
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Nuala O’Donnell: Central Bank and Financial Services Authority of Ireland

No 4/RT/09, Research Technical Papers from Central Bank of Ireland

Abstract: Financial capability refers to the study of a person’s knowledge of financial products, their understanding of their own financial position and their ability to choose products appropriate to that position along with their ability to plan ahead financially and to seek and act on appropriate advice when necessary. Financial capability and financial literacy are becoming increasingly important in a world of changing financial markets and products, increased life expectancy and changing pension arrangements. The first substantial evidence on financial capability in Ireland using a survey dataset designed for the specific purpose of measuring financial capability in Ireland was recently described in O’Donnell and Keeney (2009). The Irish survey closely followed a recent UK survey and this makes it possible to compare and contrast responses and results across the two countries, which is the topic of this paper.

JEL-codes: D14 D31 G0 (search for similar items in EconPapers)
Pages: 53 pages
Date: 2009-06
New Economics Papers: this item is included in nep-eec
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Persistent link: https://EconPapers.repec.org/RePEc:cbi:wpaper:4/rt/09

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