Top Scholars In Financial Literacy Group Together To Expedite Research & Solutions To Household Financial Crises
PR93543
WASHINGTON, Dec. 9, 2021 /PRNewswire=KYODO JBN/ --
- New, Global Network to Enhance Study of Financial Literacy and Personal
Finance to Help the Hardest Hit by the COVID-19 Pandemic
With families and nations scrambling to hang on during the economic
rollercoaster of the COVID-19 pandemic, more than 50 top researchers from
around the world are coming together in the G53 Financial Literacy and Personal
Finance Research Network (
). The new group aims to expedite research and solutions that can help people
strap on their seatbelts and be better prepared for financial crises, big and
small.
Logo - https://mma.prnewswire.com/media/1704609/G53_Network_Logo.jpg
"The pandemic has illuminated the pain of financial distress and people need to
develop antibodies not just against the virus, but also against financial
fragility," said Annamaria Lusardi (
), co-founder of the new network and University Professor and Academic Director
of the George Washington University's Global Financial Literacy Excellence
Center (GFLEC) ( https://gflec.org ), which will house the new G53 Network.
The initiative brings together the best researchers in the field of financial
literacy and personal finance to facilitate the exchange of ideas, promote
evidence-based research, and inform policy makers and the private sector.
The group refers to itself as the G53 Network in recognition of the academic
code – G53 – that represents the field of financial literacy. Fittingly, the
network launches with 53 founding members from around the world.
"From changes in demographics to changes in financial markets to the onset of
the pandemic, we've seen how critical it is to have basic skills to navigate
both expected and unanticipated events," said G53 Network co-chair Panu Kalmi (
), professor of economics and vice dean at the School of Accounting and Finance
at Finland's University of Vaasa (
). "While policy makers are becoming acutely aware of the consequences of
financial illiteracy, there are still many questions to be examined to best
understand the benefits of personal finance education, especially to
historically underserved populations."
With women and marginalized communities suffering outsized economic impacts
from COVID-19 and other issues of our time, expansion of financial literacy is
key not just for individuals but also for national and worldwide economic
recovery.
"The study of financial literacy has been growing exponentially and its
importance has been increasingly recognized over the last decade," Lusardi
noted. "By enabling the most rigorous research, we seek to address global
challenges in financial literacy and personal finance to influence policy
change, the work of the private sector, and to empower people to achieve better
life outcomes. In other words, this is research with an impact."
The G53 Network also is committed to building the next generation of
researchers by mentoring and training young scholars and graduate students.
Global network members, with more to come, include research fellows and
research associates based in Australia, Austria, Belgium, Canada, Finland,
Germany, Italy, the Netherlands, Singapore, South Africa, Spain, Sweden,
Switzerland, the United Kingdom, and across the United States. Members bring
expertise in economics, finance, business, public policy, accountancy,
marketing, and law, indicating the wide reach of financial literacy and
personal finance research.
A member list and information about the network are available at
www.g53network.org and on Twitter (
) and LinkedIn (
). The G53 Network is powered by GFLEC at the GW School of Business and the Sim
Kee Boon Institute for Financial Economics at the Singapore Management
University (
).
MEDIA CONTACT:
Lisa Fels Davitt
+1 973-886-1917
lisa@successioncommunications.com
SOURCE The Global Financial Literacy Excellence Center (GFLEC)
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