A national financial capability plan: the Brazilian case

摘要

This paper discusses desirable formats for a financial capability plan from the perspective of the Brazilian experience. The conventional proposal has usually been to much focused on financial education, arguing that transfer of knowledge and information is the best way to promote financial literacy, financial capability and well-being. However, the critical analysis of this proposal shows that it is inadequate because: (i) the treatment must deal with the environment in which financial decisions are taken, and; (ii) financial qualification can not be achieved through primary education, but through financial advice provided by independent experts.