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Table 2 Findings from the FLat World project across 15 countries

From: Financial literacy and the need for financial education: evidence and implications

Authors Country Year of data Interest rate Q Inflation Q Risk divers. Q All 3 correct (%) At least 1 do not know (%) N
Correct (%) DK (%) Correct (%) DK (%) Correct (%) DK (%)
Lusardi and Mitchell (2011c) USA 2009 64.9 13.5 64.3 14.2 51.8 33.7 30.2 42.4 1488
Van Rooij, Lusardi, and Alessie (2011) Netherlands 2010 84.8 8.9 76.9 13.5 51.9 33.2 44.8 37.6 1665
Bucher-Koenen and Lusardi (2011) Germany 2009 82.4 11.0 78.4 17.0 61.8 32.3 53.2 37.0 1059
Sekita (2011) Japan 2010 70.5 12.5 58.8 28.6 39.5 56.1 27.0 61.5 5268
Agnew, Bateman, and Thorp (2013) Australia 2012 83.1 6.4 69.3 13.0 54.7 37.6 42.7 41.3 1024
Crossan, Feslier, and Hurnard (2011) New Zealand 2009 86.0 4.0 81.0 5.0 49.0 2.0 24.0 7.0 850
Brown and Graf (2013) Switzerland 2011 79.3 2.8* 78.4 4.2* 73.5* 13.0* 50.1* 16.9* 1500
Fornero and Monticone (2011) Italy 2007 40.0* 28.2* 59.3* 30.7* 52.2* 33.7* 24.9* 44.9* 3992
Almenberg and Säve-Söderbergh (2011) Sweden 2010 35.2* 15.6* 59.5 16.5 68.4 18.4 21.4* 34.7* 1302
Arrondel, Debbich, and Savignac (2013) France 2011 48.0* 11.5* 61.2 21.3 66.8* 14.6* 30.9* 33.4* 3616
Klapper and Panos (2011) Russia 2009 36.3* 32.9* 50.8* 26.1* 12.8* 35.4* 3.7* 53.7* 1366
Beckmann (2013) Romania 2011 41.3 34.4 31.8* 40.4* 14.7 63.5 3.8* 75.5* 1030
Moure (2016) Chile 2009 47.4 32.1 17.7 20.9 40.6* N/A* 7.7 53.1 14,463
Boisclair, Lusardi, and Michaud (2017) Canada 2012 77.9 8.8 66.18 16.13 9.36 31.29 42.5 37.23 6805
Kalmi and Ruuskanen (2017) Finland 2014 58.1 6.1 76.5 6.4 65.8 10.25 35.6 14 1477
  1. *Questions that have slightly different wording than the baseline financial literacy questions listed in the text