Libraries and Financial Literacy: Perspectives From Emerging Markets

Abstract

The article uses conceptual correlations between information literacy and financial literacy as a basis for arguing that financial literacy services have a place in library settings. The article discusses the general requirements, profile of services, and various challenges related to the introduction of financial literacy programmes in public libraries. An intensified interest in financial literacy matters may be assigned to the global financial crisis of 2007 to 2009. The interdependencies between financial crisis, financial literacy, and the potential of public libraries is illustrated by the example of one South-Eastern European country whose economic transformations and developments reflect the importance of financial literacy.

KEYWORDS:

• financial literacy
• information literacy
• pre-emerging markets
• financial crisis
• public libraries
• South-Eastern Europe

Notes

Examples of such organizations include Consumer Financial Education Body (CFEB), United Kingdom; Financial Literacy and Education Commission (FLEC), United States; Financial Literacy Foundation, Australia; Making Finance Work for Africa Partnership, Africa; Task Force on Financial Literacy, Canada; and the International Gateway for Financial Education, established by the Organisation for Economic Co-operation and Development (OECD).

The USAID/SEGA Project was launched in June 2006 as a 4-year program designed to assist the country in improving the environment for economic growth and job creation by strengthening Serbia's financial sector and government fiscal policy.

Novčići (engl. coins). Retrieved from http://www.novcici.rs/.