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Roepke Lecture in Economic Geography—Financial Literacy in Context

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  • Gordon L. Clark
Abstract
Financial literacy has caught the attention of policy makers around the world. A major research program has been initiated by the World Bank aimed at mapping patterns of financial literacy in developed and developing economies. In this article, I explain the conceptual foundations of the literacy project, develop a critique of its testing procedures, and suggest that, at the limit, it is an impossible project. At every turn, standard tests of financial literacy dissolve into spatially and temporally specific phenomena that undercut the possibility of shared interpretations of notionally common problems. Nonetheless, the literacy mapping project is important for what it reveals about the geographic and sociodemographic patterns of financial knowledge. My research on financial decision making has been based, in part, on a concern for the nature and scope of financial knowledge and understanding in the context of risk and uncertainty. Thus, the trick is to anchor financial literacy programs in ways that are relevant to everyday life. These arguments are illustrated with reference to the relevant literature, published and unpublished research on financial literacy among German residents, and an innovative financial literacy program that is fine-tuned to people’s circumstances.

Suggested Citation

  • Gordon L. Clark, 2014. "Roepke Lecture in Economic Geography—Financial Literacy in Context," Economic Geography, Taylor & Francis Journals, vol. 90(1), pages 1-23, January.
    • Handle: RePEc:taf:recgxx:v:90:y:2014:i:1:p:1-23
    DOI: 10.1111/ecge.12029
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    Cited by:

    1. Kwee Kim Peong, 2019. "Determinants of Personal Financial Literacy among Young Adults in Malaysian Accounting Firms," GATR Journals gjbssr524, Global Academy of Training and Research (GATR) Enterprise.
    2. Emil van Eck & Iris Hagemans & Jan Rath, 2020. "The ambiguity of diversity: Management of ethnic and class transitions in a gentrifying local shopping street," Urban Studies, Urban Studies Journal Limited, vol. 57(16), pages 3299-3314, December.
    3. Anoosheh Rostamkalaei & Allan Riding, 2020. "Immigrants, Financial Knowledge, and Financial Behavior," Journal of Consumer Affairs, Wiley Blackwell, vol. 54(3), pages 951-977, September.
    4. Asta Zokaityte, 2018. "The UK's Money Advice Service: Edu†Regulating Consumer Decision†Making," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 47(2-3), pages 387-412, July.
    5. Dorothee Franzen, 2020. "Qualität der betrieblichen Altersversorgung. Ergebnisse einer Expertenbefragung," Working Paper Forschungsförderung 169, Hans-Böckler-Stiftung, Düsseldorf.
    6. Ian Dunham & Alec Foster, 2023. "FRINGE FINANCIAL ECOLOGIES AND PLACE‐BASED EXCLUSION: A Tale of Two Cities," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 47(6), pages 881-898, November.

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