Financial initiatives may bypass people with lower financial literacy, paper says

The Bank of Israel
David Vaaknin

The financial literacy of citizens is directly related to their capacity to take advantage of reforms designed to benefit them, research published by the Bank of Israel has found.

The paper Does Financial Regulation Unintentionally Ignore Less Privileged Populations?, by Maya Haran Rosen and Orly Sade, analyses how the public reacted to various financial initiatives of the Israeli government.

Between 2013 and 2015, the regulator of the insurance sector and long-term savings recommended the use

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