Stănculescu, Manuela Sofia2013-03-242013-03-242010-06https://hdl.handle.net/10986/12874This final report includes the analysis of the baseline survey on Financial Literacy in Romania.The survey is the follow-up of the Diagnostic Review on Consumer Protection and Financial Literacy conducted by the World Bank in 2008-2009. The Diagnostic Review in Romania was the fourth in a World Bank-sponsored pilot program to assess consumer protection and financial literacy in developing and middle-income countries. The objectives of this Review were 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 the 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 the supervisory commissions for securities (CNVM), insurance (CSA) and private pensions (CSSPP). The Diagnostic Review found that the basic foundations needed for consumer protection and financial literacy are in place in Romania but they benefit from further strengthening support. The Review proposes improvements in six areas: consumer awareness, information and disclosure for consumers, professional competence, dispute resolution, financial education and financial literacy surveys.en-USCC BY 3.0 IGOACCESSIBILITYAGRICULTURAL SECTORSALMANNUAL INTEREST RATEASSET CLASSESBANK ACCOUNTBANK CREDITBANK DEBIT CARDBANK DEPOSITBANK LOANBANK LOANSBANK OFFICERSBANKING SERVICESBANKRUPTCYBANKSBASIC NEEDCALCULATIONCAR INSURANCECHECKSCITY SIZECOMMERCIAL BANKCONSUMERCONSUMER LOANCONSUMER LOANSCONSUMER PROTECTIONCONSUMER RIGHTSCOST OF CREDITCREDIT CARDCREDITSCROP INSURANCECURRENT ACCOUNTCURRENT ACCOUNTSDEBTDEMOGRAPHICDEMOGRAPHIC PROFILESDEPOSITDEPOSIT INSURANCEDEPOSIT INSURANCE COVERAGEDEPOSITSDURABLESEMPLOYEEEMPLOYEREXCHANGE RATEEXPOSUREFARMERFINANCESFINANCIAL CHOICESFINANCIAL COMPANIESFINANCIAL COMPANYFINANCIAL CONCEPTSFINANCIAL CONSUMERSFINANCIAL CRISISFINANCIAL EDUCATIONFINANCIAL ILLITERACYFINANCIAL INDEPENDENCEFINANCIAL INFORMATIONFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL ISSUESFINANCIAL LITERACYFINANCIAL LITERACY PROGRAMFINANCIAL LITERACY SURVEYFINANCIAL LITERACY SURVEYSFINANCIAL MATTERSFINANCIAL OPPORTUNITIESFINANCIAL PLANFINANCIAL PLANNINGFINANCIAL PLANSFINANCIAL PROBLEMFINANCIAL PRODUCTSFINANCIAL REGULATORSFINANCIAL RESOURCESFINANCIAL RESPONSIBILITYFINANCIAL RISKSFINANCIAL SERVICEFINANCIAL SERVICESFINANCIAL SERVICES AUTHORITYFINANCIAL SETBACKSFINANCIAL SKILLSFINANCIAL SYSTEMFINANCIAL TRAININGFINANCIAL TRANSACTIONSFIXED INTERESTFIXED INTEREST RATEFOREIGN CURRENCYFOREIGN LANGUAGEFORMAL FINANCIAL SERVICESFRAUDGENDERGENERAL POPULATIONGOVERNMENT SUPPORTHOUSEHOLD FINANCESHOUSEHOLD INCOMEHOUSEHOLDSHOUSINGIDINCOMEINCOME LEVELINCOMESINFLATIONINFLATION RATEINFORMAL BANKINFORMED CHOICESINHERITANCEINSURANCEINSURANCE COMPANIESINSURANCE POLICIESINSURANCE POLICYINSURANCE PRODUCTSINTEREST RATEINTEREST RATESINTERNATIONAL FINANCIAL CRISISINVESTINGINVESTMENT FUNDSINVESTMENT INCOMEJEWELLERYLACK OF ACCESSLARGE CITIESLAWSLIFE EXPECTANCYLIFE INSURANCELIFE STAGELIVING PAYCHECK TO PAYCHECKLIVING STANDARDLIVING STANDARDSLOAN RATESMARKET VALUEMASS MEDIAMONEY MANAGEMENTMONTHLY INCOMEMORTGAGEMORTGAGE LOANMORTGAGE LOANSNATIONAL BANKNATIONAL CURRENCYPAWNPAWN SHOPSPENSIONPENSION PLANNINGPENSION SCHEMEPENSION SYSTEMPENSIONERSPERSONAL FINANCEPERSONAL INCOMEPERSONAL LOSSESPRIVATE PENSIONPRIVATE PENSION FUNDPRIVATE PENSION FUNDSPRIVATE PENSIONSPROBABILITYPUBLIC PENSIONSPURCHASESQUESTIONNAIREQUESTIONNAIRESREAL ESTATEREGULATORY STRUCTURESREPUTATIONRESPONSIBILITIESRETIREDRETIREMENTRETURNSSALESAVERSAVINGSSECURITIESSOCIAL DEVELOPMENTSTATE PENSIONSSTOCKSSUPERVISORY AGENCIESTAXTRAINING COURSETRAINING COURSESUNEMPLOYEDUNEXPECTED EXPENSESUNFAIR BUSINESS PRACTICESUNREALISTIC EXPECTATIONSURBAN AREASVALUE OF ASSETSVILLAGEVILLAGESWORLD ECONOMYYOUNG PEOPLEWorld Bank10.1596/12874