This conference in Nairobi, Kenya, addressed specific issues relating to financial literacy in Africa and the MENA region. It presented the output of the Russia/OECD/World Bank Trust Fund on Financial Literacy and Education.

This conference, taking place on 4-5 March 2013 in New Delhi, India, addressed specific issues relating to financial literacy in India and the Asia region. It presented the output of the Russia/OECD/World Bank Trust Fund on Financial Literacy and Education.

London, UK. Discussions at this event focused on how to make Defined Contribution pensions work better for members, designing Defined Ambition pension plans, guarantees v. risk sharing pension deals and pensions communication and individual behaviour.

This article by OECD Deputy Secretary-General Rintaro Tamaki focuses on three issues that will be important in shaping the future of the Asian economic and financial community: trade, funding long-term investment and strengthened regional financial co-operation.

The implications of the European sovereign debt crisis for Asia, the globalisation of the funding of investments and the contribution of long-term institutional investors to growth were amongst the topics explored at the 2013 Tokyo Roundtable.

The management of operational risk is at the heart of efficient government, but countries often fail to apply good or even routine operational risk management practices and have difficulty in understanding how to put the processes in place. This paper sets out a widely-applicable and relevant policy approach and management framework and illustrates its practical application in Turkey.

The OECD provides an update on global economy in this statement to the International Monetary and Financial Committee - April 2013.

This statement by Adrian Blundell-Wignall and Paul Atkinson was presented to the German Bundestag's Finance Committee Hearing on the Draft Bank-Separation Law (Drucksache 17/12601) on 22 April 2013.

There are good reasons why the public has lost confidence in banking and finance. Two issues in particular must be addressed before it can be restored– moral hazard and conflict of interest. Reforms should ensure that banks and bankers–not taxpayers–pay the price of failure and are held fully accountable for their actions.

The paper argues that interest rates are at extremely low levels to support banks, and the search for yield has pushed the liquidity driven speculative bubble from real estate, derivatives and structured products markets into the corporate debt market. Equities have rallied strongly too. This asset cycle is certainly helping banks reduce hidden losses on illiquid securities and could also help reduce the cost of equity.

The crisis has shown that there is no such thing as an optimal banking structure or model. The Liikanen report highlighted excessive risk taking and excessive reliance on short-term funding not matched with adequate capital protection. The French reform of the banking sector builds on this insight as well as the agreement reached by the Basel Committee on Banking Supervision and the European CRD 4 to foster financial stability.

This conference in Moscow explored strategies for developing financial literacy and capability and building effective consumer protection systems.

Faced with the acute poverty of many Russian pensioners, the Russian government is engaged in wide-ranging systemic reforms. This report contributes to the policy discussion by identifying aspects of the system that may need to be reformed and describing the experience of other countries as a point of comparison.

At a time when many governments are looking to encourage private investment in infrastructure to bridge the infrastructure financing gap, this paper compares the experience of pension funds in Canada and Australia, looking at infrastructure policies, the pension system, investment strategies, asset allocation and governance of pension funds.

Sovereign index-linked bond issuance has grown significantly since the early 1980s and index-linked bonds have become a widely accepted part of the set of instruments that sovereign debt managers use for funding purposes. This paper sets out a methodology for assessing their cost effectiveness relative to other financing options, using UK examples for illustration.

This report provides an overview of the status of financial education programmes in Latin America and the Caribbean, discusses their rationale, and offers initial guidance for policy makers.

This seminar took place in Palembang, Indonesia, with discussions focusing on institutional investors and long-term financing and policy measures and initiatives to address constraints to infrastructure investment identified by APEC under the Indonesian presidency.

The financial crisis has shown that many people need to have a better understanding of the financial issues in order to make informed decisions on matters such as savings, investments, pensions and credit, according to a report to be presented to G20 leaders in Saint Petersburg this week.

Both women and men need to be sufficiently financially literate to effectively participate in economic activities and to take appropriate financial decisions for themselves and their families, but women often have less financial knowledge and lower access to formal financial products than men. Women therefore have specific and additional financial literacy needs.

At their meetings on 19-20 September 2013, APEC Finance Ministers welcomed a survey report prepared by the OECD on disaster risk financing practices in the Asia Pacific region.

This regional seminar in Montevideo, Uruguay, focused on the monitoring and transparency of insurance markets in Latin America through the provision of sound insurance statistics and indicators, regionally and globally.

Jointly developed by the IMF, World Bank, EBRD, and the OECD, this report analyses the main elements necessary to deepen domestic bond markets in emerging and developing economies.

Low levels of financial inclusion are associated with lower levels of financial literacy. This report looks at how policy makers are developing financial education policies for financial inclusion. It highlights challenges faced and solutions found, as well as outlining the main lessons learnt and possibilities for the way forward.

This book addresses gender differences in financial literacy and reviews policy responses and initiatives across the world to tackle women’s and girls’ needs, drawing lessons from existing experiences.

This paper examines how institutional investors can access green infrastructure, the extent to which this is currently happening, and the barriers to scaling up these investment flows. Based on four case studies, broader lessons are drawn for governments on the policy settings which may support investment in green infrastructure by institutional investors.

After showing an average negative rate of return on investment across the OECD zone in 2011, pension fund assets achieved high returns in almost all OECD countries in 2012, with a real return greater than 5% in 18 countries, according to the latest edition of Pension Markets in Focus.

The 2013 Global Forum focused on a number of critical policy, regulatory and supervisory issues affecting private and public pension provision in the Asia region.

This paper identifies the main trends in long-term financial intermediation focusing on the role of institutional investors in providing long-term finance for growth and development. It also highlights infrastructure as one specific sector that is facing major challenges in long-term financing.

This statistical yearbook provides quantitative information on African central government debt instruments. It includes individual country data but also comparative statistics to facilitate pan-African (cross-country) analysis.

This paper investigates whether countries that had controls on inflows in place prior to the crisis were less vulnerable during the global financial crisis. More generally, it examines economic growth effects of such controls over the entire economic cycle, finding that capital restrictions on inflows (particularly debt liabilities) may be useful in good times but may have adverse effects in a crisis.

The 2013 Forum was held on 5-6 December and discussed how governments can improve their investment policy framework to reduce the risk and attract long-term private finance in support of green growth.

Discussions at this event focused on enhancing transparency in public debt management, the impact of tapering and exit on public debt management, and the role of DMOs in centralised or integrated risk management.

This event, co-organised by the OECD and the Korean authorities, explored policies and good practices for supporting long-term savings and investments through financial education and financial consumer protection.

Discussions at the 14th roundtable focussed on quantitative easing (QE) tapering to Asia, financial regulatory reforms, financial liberalisation and fragmenting growth, long-term investment for infrastructure, financial inclusion and disaster risk financing in insurance and financial markets.

This article presents a brief overview of current financing difficulties for SMEs and policy measures to support SME lending during the crisis, and presents a literature review related to difficulties in SME’s access to finance during the crisis, against a background of a sharp decline in bank profitability and an erosion of bank capital that negatively affected lending.

The value of implicit guarantees has declined from its peak at the height of the financial crisis, which is consistent with progress made regarding the bank regulatory reform agenda, as one would expect that many of the reform measures imply a more limited value of implicit guarantees for bank debt. Implicit guarantees persist however and their value continues to be significant.

This report shows how OECD’s work on financial markets, with the Committee on Financial Markets (CMF) at its core, has evolved over the past five decades. More than just a chronology, it attempts to explain and analyse the factors and dynamics that transformed financial markets and the work conducted in that area – thereby putting into perspective the challenges that lie ahead.

Borrowing operations by OECD governments are set to decrease, as their borrowing needs continue to decline, according to a new OECD report. Net borrowing needs are projected to fall from USD 2.0 trillion in 2013 to USD 1.5 trillion in 2014, the lowest level since 2007.

In the 17th arrondissement of Paris you can walk past a bust of the 19-20th century French writer, Tristan Bernard. It carries a maxim that always makes me smile, roughly translated: Only trust yourself and then not very much. ("Ne compter que sur soi-même et encore pas beaucoup. ") It is simple, but invites reflection on the staggering level of trust that each of us invests in countless fellow humans.

Held in Amsterdam on 7 April 2014, this workshop focused on: long-term pension investment strategies under risk-based regulation; riskiness and pro-cyclicality in pension asset allocation; and, regulatory challenges for long-term illiquid assets.

This book addresses the challenges linked to the introduction of financial education in schools and and provides practical guidance and case studies to assist policy makers.

This event addressed cutting-edge policy issues and research ideas to advance consumer protection globally. Discussions will focus on mobile, online and digital payment systems; behavioural and decision-making insights; and, frameworks for treating consumers fairly.

This G20 report looks at the evolution of private institutional investment in infrastructure and examines how the market has developed; analyses various investment vehicles with a snapshot of the growth experienced in the market; categorises methods used for investing in infrastructure; and, highlights the challenges and barriers to investment.

Organised in Istanbul, this event focused on financial education across Europe and in Turkey, the role(s) of the private and not-for-profit sectors in financial education, financial literacy and innovation for young people and financial education for migrant workers and their families.

The financial crisis has led to a widespread loss of trust in financial intermediaries of all kinds, perhaps helping to open the way towards the general acceptance of alternative technologies. This paper briefly summarises the crypto-currency phenomenon, separating the ‘currency’ issues from the potential technology benefits.

This report describes the key findings from responses by 35 countries to a survey on implicit guarantees. Policy makers have announced their intention to rein in the values of implicit guarantees so it is important to measure their value to help facilitate the task of assessing progress in reducing their value.

This seminar took place in Dalian, China, with discussions focusing on institutional investors and long-term financing and policy measures and initiatives to address constraints to infrastructure investment identified by APEC under the Chinese presidency.

The results of the first international assessment of 15-year-old students’ financial literacy competencies were presented in Paris on 9 July 2014.

Since the 1980s, OECD investment-saving correlations – as an inverse measure of economic openness – indicate a very wide disparity of openness between the OECD and emerging market economies (EMEs) with an absence of open markets in the latter. Given the increasing weight of EMEs in the world economy, this paper warns that this pattern of growth with disparity of openness is ultimately unsustainable.

Bank regulatory reform measures are expected to limit the value of implicit bank debt guarantees, even if not plainly targeting such values. These survey results, covering 35 countries, show that no single policy is considered capable of fully eliminating the market perception that bank debt is “special”. A mixture of different and complementary measures is seen to hold greater promise.