OECD/INFE 2020 International Survey of Adult Financial Literacy
This report provides measures of financial inclusion including elements of financial resilience and a newly-created score on financial well-being. 26 countries and economies, including 12 OECD countries, participated in this international survey of financial literacy. The survey results report the overall financial literacy scores, as computed following the OECD/INFE methodology and definition, and their elements of knowledge, behavior, and attitudes. Patterns of product awareness and holding are reported as an illustration of financial inclusion.
A comprehensive section on the outcomes of financial education explores elements of financial resilience (defined by the availability of financial cushion, coping with a financial shortfall and stress, and behavioral traits promoting long-term planning and saving, keeping control over money, taking care with expenditure and avoiding financial fraud). In response to the unprecedented crisis currently unfolding due to the COVID-19 pandemic, this section also describes some of the counter-measures taken by policy makers and some recommendations of further solutions and initiatives that can support consumers in difficult economic times. A section with tailored policy recommendations is offered at the end.