Selected Central Banks’ Economic and Financial Literacy Programs

Manfred Fluch ()
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Manfred Fluch: Oesterreichische Nationalbank, Communications, Planning and Human Resources Department

Monetary Policy & the Economy, 2007, issue 3, 80–104

Abstract: This study examines the type and extent of information central banks provide to advance economic literacy in general and financial literacy in particular. Some 30 central banks across the world provide financial education products of varying complexity for different target groups, some in close cooperation with other institutions. Some central banks consider their financial education activities a core competence and give them a prominent role, whereas the “educational visibility” of others is limited. Several central banks have recently launched financial literacy campaigns. Products designed to make people financially knowledgeable are aimed at key target groups, basically children, adolescents, students and teachers. Print products – once the product of choice – have been losing importance. Conversely, central banks use more and more modern knowledge transfer methods, in particular (multilingual) multimedia and e-education packages ranging from online games to multiyear educational programs. Moreover, some central banks have invested heavily in establishing special visitors or training centers, or have pooled knowledge e.g. at money museums. Central banks’ educational Internet resources differ extensively in scope and presentation; only few central banks’ websites provide truly comprehensive and easily accessible information. Financial knowledge transfer appears to work best from simple media and for products that are very strongly focused on individual benefit.

Keywords: economic education activities; central banks. (search for similar items in EconPapers)
JEL-codes: A20 I20 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (11)

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