| Abstract: |
At the beginning of 2017, Banca d’Italia conducted a survey to investigate
financial literacy and inclusion among Italian adults. The survey is part of
an OECD project to create an internationally comparable dataset on this
important topic. The questionnaire was developed by the OECD International
Network on Financial Education (INFE). The Italian sample consists of about
2,500 persons interviewed using two different methods: 40 per cent of them had
a face-to-face interview while the others used a tablet to record their
responses. Our findings show the existence of a substantial financial literacy
gap between Italy and the other G20 countries, which is most evident among
less educated respondents, among the elderly and among women. Compared with
other countries, Italians are more aware of their limits or at least more
cautious when assessing their level of financial knowledge. We also discuss
some critical aspects of the OECD’s methodology that should be addressed in
order to improve the measurement of financial literacy and to increase
cross-country comparability. |