TABLE 2.

Financial Literacy Around the World

Country (year)	Netherlands (2010)	USA (2004)	USA (2010)	USA (2009)	Japan (2010)	Germany (2009)	Chile (2009)	Chile (2012)	Mexico (2010)	Indonesia (2007)	India (2006)
Survey	DNB Household Survey+	Health and Retirement Survey*	Health and Retirement Survey*	National Financial Capability Study (NFCS)*	Survey of Living Preferences and Satisfication+	SAVE +	Social Protection Survey (EPS)*	National Student (TNE) Survey*	EERA*	Household Survey+	Household Survey+
Compound Interest
Correct	85%	67%	69%	78%	71%	82%	47%	46%	45%	78%	59%
Don't know	9%	9%	5%	10%	13%	11%	32%	12%	2%	15%	30%
Inflation
Correct	77%	75%	81%	65%	59%	78%	18%	43%	71%	61%	25%
Don't know	14%	10%	4%	19%	29%	17%	21%	36%	2%	16%	38%
Risk diversification
Correct	52%	52%	63%	53%	40%	62%	41%	60%	47%	28%	31%
Don't know	33%	34%	19%	40%	56%	32%	33%	20%	1%	4%	6%
All questions correct	45%	34%	42%	39%	27%	53%	8%	16%	15%	X	X
Sample Description	Age 25+	Age 50+	Age 50+	Population Representative	Age 20-69	Population representative	Population representative	1st year college students	Age 16-60, formal sector employees	Village participants	Village participants
Sample size	1,665	1,269	1,296	28,146	5,268	1,059	14,243	4,257	7,871	3,360	1,496

Notes: Countries ranked by 2010-2011 International Monetary Fund GDP per capita. + denotes statistics directly drawn from publications: Netherlands: van Rooij et al. 2011. Financial literacy and retirement preparation in the Netherlands. J. Pension. Econ. 10(4): 527-545; Japan: Sekita. 2011. Financial literacy and retirement planning in Japan. J. Pension. Econ. 10(4): 637-656. Germany: Lusardi & Bucher-Koenen. 2011. Financial literacy and retirement planning in Germany. J. Pension. Econ. 10(4): 565-584. Cole et al. 2011. Prices or knowledge? What drives demand for financial services in emerging markets. J. Financ. 66(6): 1933-1967.

^*denotes author's calculations from raw data.

X denotes missing information.