“Encuesta de medición de las capacidades financieras de los países andinos en 2014″ by CAF

Published in May 2015

 With the aim of establishing the levels of financial literacy in Bolivia, Colombia, Ecuador and Peru, CAF – Banco de Desarrollo de América Latina, through the Asociación Solidaridad Países Emergentes (ASPEm), took part in carrying out a survey developed by the Organisation for Economic Cooperation and Development (OECD), open to people of all levels of educational attainment and income, in markets with different degrees of financial inclusion.

The survey results are broken down by country. However, in general terms major socio-demographic gaps can be seen, particularly by gender, geographical location, level of studies and of income.

Thus, the study shows that there is an important positive relationship between financial knowledge and behaviour, and between saving and financial literacy. Lower financial literacy is observed among those with lower educational attainment, people not in the workforce and the unemployed; those living in rural areas; people in the lowest socioeconomic groups; women, and young people.

The report has five sections:

  1. The first puts the analysis in context and provides details on certain financial inclusion indicators;
  2. The second presents the basic statistical features, the methodology used and the profile of the interviewees;
  3. The third analyses the results obtained;
  4. The fourth shows the results by country of the indexes of knowledge levels, behavioural patterns, attitudes and financial literacy, broken down by different population groups; and
  5. The fifth sums up the main findings and formulates the study’s main conclusions.

Specifically, the report analyses results obtained in Peru in 2014, with regard to: (i) financial planning; (ii) awareness of financial products; (iii) behaviour and attitudes towards money; and (iv) the assessment of basic financial concepts.