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.      


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 

  1. Financial training of micro-entrepreneurs, mobile money, and spillover effects: Experimental evidence
    Lukas Menkhoff, DIW Berlin , Presentation
  2. Waiting for Payday, Again? Predicting and Managing Consumer Spending in the Digital Age 
    Marcel Lukas, University of St Andrews , Presentation
  3. 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 

  1. The impact of an online game-based financial education course: Experimental evidence from four countries 
    Kenneth De Beckker, Open University 
  2. Delivery Methods in Financial Education: A Comparative Analysis of Face-to-Face Classes, Live Streaming, Videos, and Gaming 
    Gianni Nicolini, University of Rome , PaperPresentation
  3. 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  

  1. Are women truly less financially literate than men? On methodological problems with measuring knowledge 
    Paweł Kuśmierczyk, Wroclaw University of Economics and Business , Presentation
  2. Financial literacy: different indicator, different insights? 
    Leo Van Hove, Vrije Universiteit Brussel , Paper, Presentation
  3. 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  

  1. Gender Gap in Financial Literacy and Stock Market Participation: Evidence from Finland 
    Panu Kalmi, University of Vaasa , Presentation
  2. 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  

  1. 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
  2. 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  


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  


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