Through the support of the European Investment Bank Institute, Dr. Annamaria Lusardi of the Global Financial Literacy Excellence Center and Dr. Rob Alessie of the University of Groningen are spearheading the Financial Literacy Programme, an international collaboration involving nine research teams. The Financial Literacy Programme brings together researchers from Germany, Italy, the Netherlands, Portugal, Spain, Sweden, Switzerland, and Turkey to do groundbreaking research in financial literacy. Their agenda revolves around projects to improve our understanding of financial literacy, the impact of financial literacy on behavior, and how we can improve the effectiveness of financial education programs throughout Europe and the United States.

The Financial Literacy Programme’s approach is grounded in economic theory, is evidence based and focused on evaluation. In addition to collecting data on financial literacy throughout their partner countries, the Financial Literacy Programme will generate best practices in financial literacy that can be leveraged by multiple stakeholders such as policymakers, the academic community, governments and the private sector.

Five projects form the backbone of the Financial Literacy Programme: 1) the creation of the Financial Literacy Programme Website, 2) the extension of the international comparison of financial literacy, building upon the 2011 report: “Financial Literacy around the World (FLAT World), 3) exploring gender differences in financial literacy, 4) exploring what works in financial literacy and 5) exploring financial literacy among the young.