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- W2561416339 abstract "The financial system plays an important role in growth and development of a nation. The evolution of financial market economies has been dramatically broadening the opportunities not only for consumers and investor but also for the firms, policy makers and economy of a country. The growing complexity of financial products over the past decade, coupled with financial innovations, and the increasing transfer of financial risks to households, have put enormous pressure and responsibilities on shoulders of financial investors. Financial services are becoming freely accessible, but, increasingly complex financial services market offers the consumers myriad of products with intricate features and services, which leave many people ill equipped to cope up with the sophisticated financial needs. The economies around the world have increasingly considered financial literacy as a key pillar for the development of financial system of a country. As financial markets become more sophisticated and households assume a growing share of the responsibility and risk for financial decisions, financial education is necessary to ensure sufficient levels of investors and consumer protection as wells as the smooth functioning of the financial markets. Creating financial literacy can play a critical role in equipping the consumers with the information, fundamental knowledge, and skills to evaluate their options and enables them to understand the implications of alternative financial decisions. Through this paper, authors would explain risk deriving from financial illiteracy, importance of financial literacy and need to create and develop financial literacy at the micro and macro levels." @default.
- W2561416339 created "2017-01-06" @default.
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- W2561416339 date "2011-03-10" @default.
- W2561416339 modified "2023-09-27" @default.
- W2561416339 title "Financial Literacy: A call for an Attention" @default.
- W2561416339 hasPublicationYear "2011" @default.
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