▷ Leading academics in financial education are working together to…

09.12.2021 – 13:00

Global Financial Literacy Center of Excellence (GFLEC)

Washington (ots/PRNewswire)

New global network to advance financial literacy and personal finance studies to help those hardest hit by the COVID-19 pandemic

As families and nations struggle to survive the economic ride of the Covid-19 pandemic, more than 50 leading researchers from around the world converge on G53 Financial Literacy and Personal Finance Research Network. The new group aims to advance research and solutions that will help people better discipline and prepare for financial crises, big and small.

“The pandemic has highlighted the pain of financial hardship and people need to develop antibodies not only against the virus but also against financial vulnerability,” he said. Annamaria Lusardi, co-founder of the new network and a university professor and academic director of Global Financial Literacy Center of Excellence (GFLEC) George Washington University, which will house the new G53 network.

The initiative brings together the best researchers in financial literacy and personal finance to facilitate the exchange of opinions, develop evidence-based research, and inform policy makers and the private sector.

The group calls itself the G53 Network in recognition of the academic code – G53 – which stands for the field of financial literacy. It is fitting that the network starts with 53 founding members from all over the world.

“From demographic changes to changes in financial markets to the outbreak of a pandemic, we have seen the importance of having basic skills to deal with expected and unexpected events,” said the co-chair of the G53 Network. Banu Kalmi Professor of Economics and Vice Dean at the Finnish College of Accounting and Finance Vaasa University. “With policy makers recognizing the consequences of financial literacy, many questions remain to be explored to better understand the benefits of personal financial literacy, particularly for historically disadvantaged populations.”

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Given that women and marginalized populations are particularly affected by the economic effects of Covid-19 and other problems of our time, improving financial literacy is not only for individuals, but also for national and global economic recovery.

“The study of financial literacy has grown exponentially and its importance has been increasingly recognized over the past decade,” Lusardi said. Effect. “

G53 is also committed to building the next generation of researchers by mentoring and training young scientists and doctoral students.

Members of the global network, to which more will be added, include fellow researchers and academics from Australia, Belgium, Germany, Finland, Italy, Canada, the Netherlands, Austria, Singapore, South Africa, Sweden, Switzerland, the United Kingdom and the United States. Members bring expertise in the areas of business, finance, corporate, public order, accounting, Marketing, and Law, illustrating the broad scope of research in financial literacy and personal finance.

A list of members and information about the network can be found at www.g53network.org and above Twitter And LinkedIn. The G53 network is operated by GFLEC at GW School of Business and Sim Ki Bon Institute of Finance at Singapore Management University supports.

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Original content from: Global Financial Literacy Center of Excellence (GFLEC), transmitted by aktuell news

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