Financial literacy and financial education in Asia

Abstract

This chapter provides an overview of financial literacy in Asia. After the introduction, the chapter describes financial literacy scores, national strategies for financial education, financial education programs, and financial literacy research in each of six regions in Asia. Finally, the chapter ends with recommendations for public policymakers, business professionals, and consumer educators. The chapter demonstrates that: 1) Financial literacy is an important factor contributing to consumer financial capability and well-being in Asia; 2) Financial literacy national strategies and education programs in Asian countries are beneficial for consumer well-being and economic development; and 3) Public policies promoting financial education can be compatible with the socioeconomic development goals of Asian countries.