Developing the next generation of economic citizens: financial inclusion and education for children and youth
Monique Cohen | Jeroo Billimoria | Jared Penner | Floor Knoote
In order for young people to achieve their potential as empowered and engaged economic citizens, they must have access to safe and appropriate financial services and quality financial, social, and livelihoods education. The Child and Youth Finance Movement is uniting government authorities, financial service providers, academics, and youth serving organizations from across the world to advance financial inclusion and economic citizenship education at the global, regional, and national level. This article explains the central components of the child and youth finance movement, examines the evidence base for the movement's Theory of Change and explores how various partners and stakeholders in the movement are working to create an ecosystem for the next generation of economic citizens.Aflatoun (2013) ‘Results to Date’, [website] Amsterdam: Aflatoun <www.aflatoun.org/story/story-selected/Results-to-Date≯ [accessed March 2013]. www.aflatoun.org/story/story-selected/Results-to-Date
Berry, J., Karlan, D. and Pradhan, M. (2013) ‘Evaluating the Efficacy of School Based Financial Education Programs’ [online] <http://poverty-action.org/sites/default/files/day_3_s3_pradhan.pdf≯ [accessed 25 July 2013]. http://poverty-action.org/sites/default/files/day_3_s3_pradhan.pdf
Bloom , P.N. and Dees, G. (2008) ‘Cultivate your ecosystem’, Stanford Social Innovation Review Winter 2008: 47-53 [online] <www.caseatduke.org/news/1207/Dees_Bloom_Ecosystem.html#cultivateecosystem≯ [accessed 27 April 2013]. www.caseatduke.org/news/1207/Dees_Bloom_Ecosystem.html#cultivateecosystem
Child and Youth Finance International (CYFI) (2010) Word on the Street: Views on Finance for Children and Youth, Amsterdam: Child and Youth Finance International.
CYFI (2012a) Children and Youth as Economic Citizens: Review of Research on Financial Capability, Financial Inclusion and Financial Education, Research Working Group Report, Amsterdam: CYFI <http://childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=374&cf_id=200≯ [accessed 19 August 2013] http://childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=374&cf_id=200
CYFI (2012b) Children, Youth and Finance 2011, Amsterdam: CYFI <www.childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=1468&cf_id=200≯ [accessed 19 August 2013]. www.childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=1468&cf_id=200
CYFI (2013) National Implementation Guide: Child and Youth Finance Initiatives at the National Level [online], Amsterdam: Child and Youth Finance International, <http://childfinanceinternational.org/library/cyfi-publications/National-Implementation-Guide-Child-Youth-Finance-Initiatives-At-The-National-Level-CYFI-2013.pdf≯ [accessed 9 August 2013]. http://childfinanceinternational.org/library/cyfi-publications/National-Implementation-Guide-Child-Youth-Finance-Initiatives-At-The-National-Level-CYFI-2013.pdf
ILO (2013) Global Employment Trends for Youth 2013 [online], Geneva: International Labour Office <www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_212899.pdf≯ [accessed 9 August 2013]. www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_212899.pdf
Junior Achievement (2012) ‘Elementary School Programs: Overview’ [website] <www.ja.org/programs/programs_elem_overview_obj.shtml≯ [accessed 18 July 2012]. www.ja.org/programs/programs_elem_overview_obj.shtml
Making Cents International (2012) State of the Field in Youth Economic Opportunities: A Guide for Programming, Policymaking, and Partnership Building, Global, Washington, DC: Making Cents International.
OECD (2012) ‘PISA 2012 Financial Literacy Framework’, [online] <www.oecd.org/pisa/pisaproducts/46962580.pdf≯ [accessed 9 August 2013]. www.oecd.org/pisa/pisaproducts/46962580.pdf
Porter, M.E. (1980) Competitive Strategy, New York: .
SEEP Network (2013) Understanding Youth and their Financial Needs, Youth and Financial Services Working Group, Arlington, VA: SEEP Network
Sherraden, M.S. and Ansong, D. (2013) Research evidence on the CYFI Model of Children and Youth as Economic Citizens, CSD Research Report 13-04, St Louis, MO: Washington University, Center for Social Development.
UNDESA (2011) World Youth Report: Youth Employment - Youth Perspectives on the Pursuit of Decent Work in Changing Times [online], UNDESA <www.undp.org.tr/publicationsDocuments/WYR2011.pdf≯ [accessed 9 August 2013]. www.undp.org.tr/publicationsDocuments/WYR2011.pdf
UNICEF (2011) ‘Life skills: Definition of Terms’ [online], New York: UNICEF <www.unicef.org/lifeskills/index_7308.html≯ [accessed 9 August 2013]. www.unicef.org/lifeskills/index_7308.html
Aflatoun (2013) ‘Results to Date’, [website] Amsterdam: Aflatoun <www.aflatoun.org/story/story-selected/Results-to-Date≯ [accessed March 2013]. www.aflatoun.org/story/story-selected/Results-to-Date
Berry, J., Karlan, D. and Pradhan, M. (2013) ‘Evaluating the Efficacy of School Based Financial Education Programs’ [online] <http://poverty-action.org/sites/default/files/day_3_s3_pradhan.pdf≯ [accessed 25 July 2013]. http://poverty-action.org/sites/default/files/day_3_s3_pradhan.pdf
Bloom , P.N. and Dees, G. (2008) ‘Cultivate your ecosystem’, Stanford Social Innovation Review Winter 2008: 47-53 [online] <www.caseatduke.org/news/1207/Dees_Bloom_Ecosystem.html#cultivateecosystem≯ [accessed 27 April 2013]. www.caseatduke.org/news/1207/Dees_Bloom_Ecosystem.html#cultivateecosystem
Child and Youth Finance International (CYFI) (2010) Word on the Street: Views on Finance for Children and Youth, Amsterdam: Child and Youth Finance International.
CYFI (2012a) Children and Youth as Economic Citizens: Review of Research on Financial Capability, Financial Inclusion and Financial Education, Research Working Group Report, Amsterdam: CYFI <http://childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=374&cf_id=200≯ [accessed 19 August 2013] http://childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=374&cf_id=200
CYFI (2012b) Children, Youth and Finance 2011, Amsterdam: CYFI <www.childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=1468&cf_id=200≯ [accessed 19 August 2013]. www.childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=1468&cf_id=200
CYFI (2013) National Implementation Guide: Child and Youth Finance Initiatives at the National Level [online], Amsterdam: Child and Youth Finance International, <http://childfinanceinternational.org/library/cyfi-publications/National-Implementation-Guide-Child-Youth-Finance-Initiatives-At-The-National-Level-CYFI-2013.pdf≯ [accessed 9 August 2013]. http://childfinanceinternational.org/library/cyfi-publications/National-Implementation-Guide-Child-Youth-Finance-Initiatives-At-The-National-Level-CYFI-2013.pdf
ILO (2013) Global Employment Trends for Youth 2013 [online], Geneva: International Labour Office <www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_212899.pdf≯ [accessed 9 August 2013]. www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_212899.pdf
Junior Achievement (2012) ‘Elementary School Programs: Overview’ [website] <www.ja.org/programs/programs_elem_overview_obj.shtml≯ [accessed 18 July 2012]. www.ja.org/programs/programs_elem_overview_obj.shtml
Making Cents International (2012) State of the Field in Youth Economic Opportunities: A Guide for Programming, Policymaking, and Partnership Building, Global, Washington, DC: Making Cents International.
OECD (2012) ‘PISA 2012 Financial Literacy Framework’, [online] <www.oecd.org/pisa/pisaproducts/46962580.pdf≯ [accessed 9 August 2013]. www.oecd.org/pisa/pisaproducts/46962580.pdf
Porter, M.E. (1980) Competitive Strategy, New York: .
SEEP Network (2013) Understanding Youth and their Financial Needs, Youth and Financial Services Working Group, Arlington, VA: SEEP Network
Sherraden, M.S. and Ansong, D. (2013) Research evidence on the CYFI Model of Children and Youth as Economic Citizens, CSD Research Report 13-04, St Louis, MO: Washington University, Center for Social Development.
UNDESA (2011) World Youth Report: Youth Employment - Youth Perspectives on the Pursuit of Decent Work in Changing Times [online], UNDESA <www.undp.org.tr/publicationsDocuments/WYR2011.pdf≯ [accessed 9 August 2013]. www.undp.org.tr/publicationsDocuments/WYR2011.pdf
UNICEF (2011) ‘Life skills: Definition of Terms’ [online], New York: UNICEF <www.unicef.org/lifeskills/index_7308.html≯ [accessed 9 August 2013]. www.unicef.org/lifeskills/index_7308.html
Aflatoun (2013) ‘Results to Date’, [website] Amsterdam: Aflatoun <www.aflatoun.org/story/story-selected/Results-to-Date≯ [accessed March 2013]. www.aflatoun.org/story/story-selected/Results-to-Date
Berry, J., Karlan, D. and Pradhan, M. (2013) ‘Evaluating the Efficacy of School Based Financial Education Programs’ [online] <http://poverty-action.org/sites/default/files/day_3_s3_pradhan.pdf≯ [accessed 25 July 2013]. http://poverty-action.org/sites/default/files/day_3_s3_pradhan.pdf
Bloom , P.N. and Dees, G. (2008) ‘Cultivate your ecosystem’, Stanford Social Innovation Review Winter 2008: 47-53 [online] <www.caseatduke.org/news/1207/Dees_Bloom_Ecosystem.html#cultivateecosystem≯ [accessed 27 April 2013]. www.caseatduke.org/news/1207/Dees_Bloom_Ecosystem.html#cultivateecosystem
Child and Youth Finance International (CYFI) (2010) Word on the Street: Views on Finance for Children and Youth, Amsterdam: Child and Youth Finance International.
CYFI (2012a) Children and Youth as Economic Citizens: Review of Research on Financial Capability, Financial Inclusion and Financial Education, Research Working Group Report, Amsterdam: CYFI <http://childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=374&cf_id=200≯ [accessed 19 August 2013] http://childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=374&cf_id=200
CYFI (2012b) Children, Youth and Finance 2011, Amsterdam: CYFI <www.childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=1468&cf_id=200≯ [accessed 19 August 2013]. www.childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=1468&cf_id=200
CYFI (2013) National Implementation Guide: Child and Youth Finance Initiatives at the National Level [online], Amsterdam: Child and Youth Finance International, <http://childfinanceinternational.org/library/cyfi-publications/National-Implementation-Guide-Child-Youth-Finance-Initiatives-At-The-National-Level-CYFI-2013.pdf≯ [accessed 9 August 2013]. http://childfinanceinternational.org/library/cyfi-publications/National-Implementation-Guide-Child-Youth-Finance-Initiatives-At-The-National-Level-CYFI-2013.pdf
ILO (2013) Global Employment Trends for Youth 2013 [online], Geneva: International Labour Office <www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_212899.pdf≯ [accessed 9 August 2013]. www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_212899.pdf
Junior Achievement (2012) ‘Elementary School Programs: Overview’ [website] <www.ja.org/programs/programs_elem_overview_obj.shtml≯ [accessed 18 July 2012]. www.ja.org/programs/programs_elem_overview_obj.shtml
Making Cents International (2012) State of the Field in Youth Economic Opportunities: A Guide for Programming, Policymaking, and Partnership Building, Global, Washington, DC: Making Cents International.
OECD (2012) ‘PISA 2012 Financial Literacy Framework’, [online] <www.oecd.org/pisa/pisaproducts/46962580.pdf≯ [accessed 9 August 2013]. www.oecd.org/pisa/pisaproducts/46962580.pdf
Porter, M.E. (1980) Competitive Strategy, New York: .
SEEP Network (2013) Understanding Youth and their Financial Needs, Youth and Financial Services Working Group, Arlington, VA: SEEP Network
Sherraden, M.S. and Ansong, D. (2013) Research evidence on the CYFI Model of Children and Youth as Economic Citizens, CSD Research Report 13-04, St Louis, MO: Washington University, Center for Social Development.
UNDESA (2011) World Youth Report: Youth Employment - Youth Perspectives on the Pursuit of Decent Work in Changing Times [online], UNDESA <www.undp.org.tr/publicationsDocuments/WYR2011.pdf≯ [accessed 9 August 2013]. www.undp.org.tr/publicationsDocuments/WYR2011.pdf
UNICEF (2011) ‘Life skills: Definition of Terms’ [online], New York: UNICEF <www.unicef.org/lifeskills/index_7308.html≯ [accessed 9 August 2013]. www.unicef.org/lifeskills/index_7308.html
Aflatoun (2013) ‘Results to Date’, [website] Amsterdam: Aflatoun <www.aflatoun.org/story/story-selected/Results-to-Date≯ [accessed March 2013]. www.aflatoun.org/story/story-selected/Results-to-Date
Berry, J., Karlan, D. and Pradhan, M. (2013) ‘Evaluating the Efficacy of School Based Financial Education Programs’ [online] <http://poverty-action.org/sites/default/files/day_3_s3_pradhan.pdf≯ [accessed 25 July 2013]. http://poverty-action.org/sites/default/files/day_3_s3_pradhan.pdf
Bloom , P.N. and Dees, G. (2008) ‘Cultivate your ecosystem’, Stanford Social Innovation Review Winter 2008: 47-53 [online] <www.caseatduke.org/news/1207/Dees_Bloom_Ecosystem.html#cultivateecosystem≯ [accessed 27 April 2013]. www.caseatduke.org/news/1207/Dees_Bloom_Ecosystem.html#cultivateecosystem
Child and Youth Finance International (CYFI) (2010) Word on the Street: Views on Finance for Children and Youth, Amsterdam: Child and Youth Finance International.
CYFI (2012a) Children and Youth as Economic Citizens: Review of Research on Financial Capability, Financial Inclusion and Financial Education, Research Working Group Report, Amsterdam: CYFI <http://childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=374&cf_id=200≯ [accessed 19 August 2013] http://childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=374&cf_id=200
CYFI (2012b) Children, Youth and Finance 2011, Amsterdam: CYFI <www.childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=1468&cf_id=200≯ [accessed 19 August 2013]. www.childfinanceinternational.org/index.php?option=com_mtree&task=att_download&link_id=1468&cf_id=200
CYFI (2013) National Implementation Guide: Child and Youth Finance Initiatives at the National Level [online], Amsterdam: Child and Youth Finance International, <http://childfinanceinternational.org/library/cyfi-publications/National-Implementation-Guide-Child-Youth-Finance-Initiatives-At-The-National-Level-CYFI-2013.pdf≯ [accessed 9 August 2013]. http://childfinanceinternational.org/library/cyfi-publications/National-Implementation-Guide-Child-Youth-Finance-Initiatives-At-The-National-Level-CYFI-2013.pdf
ILO (2013) Global Employment Trends for Youth 2013 [online], Geneva: International Labour Office <www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_212899.pdf≯ [accessed 9 August 2013]. www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_212899.pdf
Junior Achievement (2012) ‘Elementary School Programs: Overview’ [website] <www.ja.org/programs/programs_elem_overview_obj.shtml≯ [accessed 18 July 2012]. www.ja.org/programs/programs_elem_overview_obj.shtml
Making Cents International (2012) State of the Field in Youth Economic Opportunities: A Guide for Programming, Policymaking, and Partnership Building, Global, Washington, DC: Making Cents International.
OECD (2012) ‘PISA 2012 Financial Literacy Framework’, [online] <www.oecd.org/pisa/pisaproducts/46962580.pdf≯ [accessed 9 August 2013]. www.oecd.org/pisa/pisaproducts/46962580.pdf
Porter, M.E. (1980) Competitive Strategy, New York: .
SEEP Network (2013) Understanding Youth and their Financial Needs, Youth and Financial Services Working Group, Arlington, VA: SEEP Network
Sherraden, M.S. and Ansong, D. (2013) Research evidence on the CYFI Model of Children and Youth as Economic Citizens, CSD Research Report 13-04, St Louis, MO: Washington University, Center for Social Development.
UNDESA (2011) World Youth Report: Youth Employment - Youth Perspectives on the Pursuit of Decent Work in Changing Times [online], UNDESA <www.undp.org.tr/publicationsDocuments/WYR2011.pdf≯ [accessed 9 August 2013]. www.undp.org.tr/publicationsDocuments/WYR2011.pdf
UNICEF (2011) ‘Life skills: Definition of Terms’ [online], New York: UNICEF <www.unicef.org/lifeskills/index_7308.html≯ [accessed 9 August 2013]. www.unicef.org/lifeskills/index_7308.html
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