World Bank2013-03-252013-03-252009-07https://hdl.handle.net/10986/12916The diagnostic review on consumer protection and financial literacy in Romania is the fourth in a World Bank-sponsored pilot program to assess consumer protection and financial literacy in developing and middle-income countries. The objective of this review are three-fold to: (1) refine a set of good practices for assessing consumer protection and financial literacy, including financial literacy; (2) conduct a review of the existing rules and practices in Romania compared to the good practices; and (3) provide recommendations on ways to improve consumer protection and financial literacy in Romania. The diagnostic review was prepared at the request of National Authority for Consumers Protection (ANPC), whose request was endorsed by the Ministry of Economy and Finance. Support was provided by the National Bank of Romania (BNR), which supervises banks and non-bank credit institutions. Further assistance was given by supervisory commissions for securities (CNVM), insurance (CSA) and private pensions (CSSPP). Volume one notes the importance of consumer protection and finical literacy, provides statistics on the size and growth of the retail financial sector in Romania, describes the EU and Romanian strategies on consumer protection and financial literacy, and sets out the key finding and recommendations of the review. Annex one lists all recommendation in the diagnostic review from both volumes and notes which recommendations relate to European Union (EU) Directives or European Commission (EC) recommendations and which are taken from the good practices annex two provides two sample consumer protection code: one for the banking securities, insurance and pensions sectors; and another for non-bank credit institutions. Annex three lists the key lawn and institutions related to financial consumer protection in Romania and annex four indicates which Romanian laws have incorporated the EU Directives on financial consumer protection. Volume two provides: (1) a detailed analysis of the key consumer protection issues in five segments of financial sector - banking, securities, insurance, private pensions, and non-bank credit intuitions; (2) an assessment of the Romanian consumer protection framework and practices compared to the template of good practices; and (3) a brief survey of financial literacy programs worldwide.en-USCC BY 3.0 IGOACCESS TO EDUCATIONACCOUNTINGADULT LITERACYADULT POPULATIONAGE GROUPAGRICULTURAL EMPLOYMENTAGRICULTURAL PRODUCTIVITYAGRICULTURAL PRODUCTSAGRICULTURAL SECTORAGRICULTURAL WAGEAGRICULTURAL WORKERSBASIC EDUCATIONCASH CROPSCHILD LABORCHILD MORTALITYCHILD MORTALITY RATECOMPARABILITY ISSUESCOST EFFECTIVENESSCRISESCROWDING OUTDEMOGRAPHIC PRESSURESDEPENDENCY RATIOSDEVELOPING COUNTRIESDISCRIMINATIONDROUGHTEARNINGEARNINGS GROWTHEARNINGS INEQUALITYECONOMIC CONDITIONSECONOMIC GROWTHECONOMIC VOLATILITYEDUCATION SYSTEMSEMPLOYMENTEMPLOYMENT CREATIONEMPLOYMENT DYNAMICSEMPLOYMENT GROWTHEMPLOYMENT INCREASEEQUAL ACCESSEXPORT PROCESSING ZONESEXTREME POVERTYFAMILY LABORFAMILY PLANNINGFARM ACTIVITIESFARM ACTIVITYFARM INCOMEFINANCIAL MARKETSFIRM GROWTHFIRM SIZEFOOD CONSUMPTIONFOOD INSECURITYFOOD SECURITYFOREIGN DIRECT INVESTMENTFORMAL EDUCATIONFULL EMPLOYMENTGENDER DIFFERENCESGENDER DISPARITIESGENDER GAPGENDER ISSUESGREEN REVOLUTIONHIGH EMPLOYMENTHIGH POPULATION GROWTHHOUSEHOLD ENTERPRISESHOUSEHOLD INCOMEHOUSEHOLD NEEDSHOUSEHOLD POVERTYHOUSEHOLD SURVEYSHOUSEHOLD VULNERABILITYHUMAN CAPITALHUMAN DEVELOPMENTIMMIGRANTSIMPACT ON POVERTYINCOME INSECURITYINCOME SECURITYINCOME SUPPORTINEXPERIENCED WORKERSINFORMAL SECTORINSURANCEJOB CREATIONJOB MARKETJOB OPPORTUNITIESJOBSKNOWLEDGE BASELABOR DEMANDLABOR EARNINGLABOR FORCELABOR LAWSLABOR MARKETLABOR MARKET ARRANGEMENTSLABOR MARKET CONDITIONSLABOR MARKET INDICATORSLABOR MARKET INSTITUTIONSLABOR MARKET OUTCOMESLABOR MARKET POLICIESLABOR MARKET REGULATIONSLABOR MARKETSLABOR MOBILITYLABOR PRODUCTIVITYLABOR REGULATIONSLABOR RESOURCESLABOR SUPPLYLABOURLABOUR MARKETLACK OF INFORMATIONLACK OF SKILLSLARGE CITIESLEVEL OF EDUCATIONLEVELS OF EDUCATIONLIFE EXPECTANCYLIVING STANDARDSLOW UNEMPLOYMENTLOW UNEMPLOYMENT RATESMACROECONOMIC STABILITYMALNUTRITIONMANPOWERMARKET WAGESMINIMUM WAGEMINIMUM WAGESMODERATE UNEMPLOYMENTMORTALITYNATIONAL POVERTYNATIONAL POVERTY LINENATURAL RESOURCESNET JOB CREATIONNON-FARM SECTOROCCUPATIONOCCUPATIONSOPEN UNEMPLOYMENTOUTPUTSPAYING JOBSPERMANENT JOBSPOOR ADULTSPOOR CHILDRENPOOR HOUSEHOLDSPOPULATION ESTIMATESPOPULATION INCREASEPOST SECONDARY EDUCATIONPOVERTY IMPACTPOVERTY LEVELSPOVERTY MAPPINGPOVERTY RATESPOVERTY REDUCTIONPOVERTY REDUCTION STRATEGIESPOVERTY REDUCTION STRATEGYPOVERTY RISKPRIMARY EDUCATIONPRIMARY LEVELPRIVATE SECTORPRIVATE SECTOR WORKERSPRODUCTIVE EMPLOYMENTPRODUCTIVE SECTORPRODUCTIVITY GROWTHPRODUCTIVITY LEVELSPROGRESSPROTECTING WORKERSPUBLIC SECTOR JOBSPUBLIC WORKPUBLIC WORKSPUBLIC WORKS PROGRAMSRURALRURAL AREASRURAL DEVELOPMENTRURAL ECONOMYRURAL FAMILIESRURAL HOUSEHOLDSRURAL INCOMESRURAL LABORRURAL LABOR MARKETSRURAL POORRURAL POPULATIONRURAL POVERTYRURAL SECTORRURAL WORKERSSAFETYSAFETY NETSAFETY NETSSALARIED WORKERSSAVINGSSCHOOL AGESECONDARY LEVELS OF EDUCATIONSELF EMPLOYEDSELF EMPLOYMENTSERVICE SECTORSIGNIFICANT POLICYSKILLS DEVELOPMENTSUBSISTENCE FARMINGTARGETINGTECHNICAL CAPACITYTERTIARY LEVELSTOTAL EMPLOYMENTTRAINING PROGRAMSTRANSPORTATIONUNEMPLOYEDUNEMPLOYED WORKERSUNEMPLOYMENTUNEMPLOYMENT RATEUNEMPLOYMENT RATESUNIVERSITY EDUCATIONUNPAID FAMILY WORKERSUNSKILLED LABORURBAN AGGLOMERATIONSURBAN AREASURBAN CENTERSURBAN MIGRATIONURBAN POPULATIONURBAN POPULATION GROWTHURBAN POVERTYURBAN WORKERSVOCATIONAL TRAININGVULNERABILITYVULNERABLE GROUPSWAGE GAPWAGE SECTORWORK FORCEWORKERWORKERSWORKING POORWORKING POPULATIONYOUNG POPULATIONSYOUNG WORKERSWorld Bank10.1596/12916