FINALIST-Financial Literacy Stimulation: The Case Study of Cyprus

Maria Michailidis, Skevos Evripidou, Joseph Hassid

Research output: Contribution to journalArticle

Abstract

The main findings of the survey in economic/financial literacy stimulation have shown that, it is an absolute necessity to create educational and training programs related to the multiple economic/financial factors which influence us in our daily lives. These educational programs should target younger as well as older individuals, both males and females. They should give more emphasis on the female population and on younger groups, who appeared to be in greater need for developing more awareness related to the global and local economic and financial problems, and for acquiring and further improving key competences in financial awareness. In this way we develop more educated consumers, who are more capable of taking the right economic and financial decisions, and thus actively participating in the economic and financial development of Cyprus. The present paper is part of an extended report of a consortium of counties participating in the GRUNDTVIG Multilateral Project titled FINALIST. This is part of the European Union, Life Long Learning Programs. Participating countries are: Greece, Germany, Bulgaria, France and Cyprus. The questionnaires used were uniform for all countries, (with the exemption of some country specific questions). The questionnaires were also translated in each country’s language. This paper refers only to the questionnaires administered in Cyprus, and it does not attempt to present a full accounting of the existing financial educational needs of the other partners of the consortium, a task which is beyond the scope of this paper. This piece of research work is the first of its kind for Cyprus and one of the few done internationally with attempts to comparing situations in several/different, in many respects, countries.
Original languageEnglish
Pages (from-to)269-277
JournalCambridge Business Review
Volume12
Issue number2
Publication statusPublished - 2009

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