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Bank of Finland Museum
About the conference
During the past 12 months, high inflation that surpasses pay rises has resulted a record fast fall in households’ purchasing power. Many households find it hard to cope with rising living costs and interest rates. However, knowledge about money and expenditure, and how to manage them, empowers households to make informed decisions and make most of their resources available. Particularly, during this crisis, such ability could have helped many people to prepare ahead, for example, by having manageable debt, emergency savings and using reliable financial services.
The Bank of Finland’s Financial Literacy Conference focus on these financial literacy gaps and alternative policies that can mitigate the cost of living crisis. The conference will provide a unique opportunity for academics and policy makers to discuss current financial education needs and financial literacy challenges and priorities from the perspective of the current crisis. The conference sessions present recent scientific contributions on financial literacy and financial education, and implications for policy and practice.
The Bank of Finland organises this conference to celebrate the 20th anniversary of the Bank of Finland Museum.
The conference attendance is in-person only. All registered conference participants are welcome to join in the social programme.
Programme
Day 1: Mon 12 June 2023
9:00-9:30 Registration and Coffee
9:30-9:35 Practicalities and house rules
Elisa Newby , Head of Department, Bank of Finland
9:35-10:00 Welcome
Marja Nykänen, Deputy Governor
10:00-11:15 Session 1: Technology and financial inclusion
- Financial training of micro-entrepreneurs, mobile money, and spillover effects: Experimental evidence
Lukas Menkhoff, DIW Berlin , Presentation - Waiting for Payday, Again? Predicting and Managing Consumer Spending in the Digital Age
Marcel Lukas, University of St Andrews , Presentation - Gender Differences in Digital ad Financial Literacy of Cryptoassets Owners
Kim P. Huynh, Bank of Canada
Session Chair: Senior Adviser Zuzana Fungacova, Bank of Finland
11:15-11:30 Break
11:30-12:30 Keynote lecture
Professor Annamaria Lusardi, George Washington University, Presentation
12:30-13:15 Lunch at the Bank of Finland Museum
13:15-14:30 Session 2: Financial Education
- The impact of an online game-based financial education course: Experimental evidence from four countries
Kenneth De Beckker, Open University - Delivery Methods in Financial Education: A Comparative Analysis of Face-to-Face Classes, Live Streaming, Videos, and Gaming
Gianni Nicolini, University of Rome , Paper, Presentation - We don't need no financial education? The effect of faculty of study on French students’ financial literacy
Guillaume Thevenet, University of Strasbourg , Paper, Presentation
Session Chair: Professor Panu Kalmi, University of Vaasa
14:30-15:00 Break
15:00-16:15 Session 3: Gender and measurement of financial literacy
- Are women truly less financially literate than men? On methodological problems with measuring knowledge
Paweł Kuśmierczyk, Wroclaw University of Economics and Business , Presentation - Financial literacy: different indicator, different insights?
Leo Van Hove, Vrije Universiteit Brussel , Paper, Presentation - Gender and Financial Identity as Predictors of the Saving Behavior of Emerging Adults
Jussi Nyrhinen and Terhi-Anna Wilska, University of Jyväskylä
Session Chair: Head of Research Iikka Korhonen, Bank of Finland
16:15-17:15 Break
17:15-21:00 Social programme and dinner
17:15 Meetup by Market Square Pier (Linnanlaituri)
17:30 A boat trip to the Bank of Finland’s seaside villa
19:15 Dinner
21:30 Return to hotels and the railway station with a bus
Day 2: Tue 13 June 2023
9:00-9:30 Coffee
9:30-10:15 Session 4: Measuring financial literacy with surveys
- Gender Gap in Financial Literacy and Stock Market Participation: Evidence from Finland
Panu Kalmi, University of Vaasa , Presentation - Relationship between pension knowledge, trust in the pension system, and sociodemographic factors
Sanna Tenhunen, Finnish Centre for Pensions
Session Chair: Lukas Menkhoff, DIW Berlin
10:15-11:00 Session 5: Financial well-being
- Financial well-being is a triad of security, freedom and pleasure. A phenomenological study
Adele Atkinson, University of Birmingham (presenting author Marcel Lukas, University of St Andrews), Presentation - A pilot randomised controlled trial of intervention for social work clients with children facing complex financial problems in Finland (FinSoc): a study protocol
Anniina Kaittila, University of Turku , Presentation
Session Chair: Professor Terhi-Anna Wilska, University of Jyväskylä
11:00-11:30 Break
11:30-12:45 Policy panel: “Efficient Policies for
o Marja Nykänen, Deputy Governor, Bank of Finland
o Sarah Porretta, Executive Director, Money and Pensions Service, UK
o Magda Bianco, DG Consumer Protection and Financial Education Banca d’Italia
o Moderator: Elisa Newby, Head of Department, Bank of Finland
12:45-13:00 Closing words
13:00 Lunch
Registration
Conference attendance is free of charge and includes coffees and lunches for both days and a conference dinner.
Participants are responsible for arranging their own travel and accommodation.
To confirm your attendance, please kindly register online no later than 26th May by filling in this form: https://www.lyyti.fi/reg/BOF_FinLit_conference_June2023
The places will be limited. You will receive a confirmation to the e-mail address provided on the registration form.
Conference Venue
The Bank of Finland Museum, Snellmaninkatu 2, 00170 Helsinki
Organisers
Elisa Newby, Head of Department, General Secretariat
+ 358 9 1832700, elisa.newby@bof.fi
Anu Raijas, Adviser in Financial Literacy, General Secretariat
+ 358 9 1832625, anu.raijas@bof.fi