Financial Education and Financial Literacy Project: Study of Changes in Financial Literacy Rate (3rd Round), Analysis of Results Obtained in Three Rounds

Project ID: P120338

Project : Financial Education and Financial Literacy

Borrower/Bid No: FEFLP/QCBS-1.5

Scope of Contract: The purpose of this assignment is to identify changes in the financial literacy level of the population by conducting the third round of the all-Russian sociological survey on the representative territorial probability targeted sample supplemented by probability territorial targeted samples representative for each region and comparative analysis of the survey results obtained in all three rounds.

The consulting services ("the Services") include the following tasks to be addressed by the Consultant:

1. Assessment of changes in the financial literacy rate of the population using survey and methodological tools developed under the Project as well as survey data of the first and second rounds (will be provided to the Consultant) representatively for Russia as a whole and with regards to the following two target groups of financial services users (students of schools (14-16 years of age); students of universities and colleges; actual low income (1-4 deciles per capita income) and middle income (5-8 deciles per capita income) population;

2. Creation of a data base in the electronic format (SPSS) containing data on interviewees' financial behavior and financial literacy, as well as preparation of output tables in the form of distribution of responses to questions for the whole sample and cross-tables for the main social, demographic and territorial groups of the population;

3. Analysis of distributions of responses by the respondents in general and by the key demographic groups of population, as well as by each target group of the Project in Russia as a whole and in 83 regions;

4. Calculation of the current value of the financial literacy index in Russia as a whole, in each surveyed region, in each of the two target groups in the pilot regions of the Project, participating regions of the Project and their respective benchmark regions;

5. Analysis of the link between the financial literacy rate and financial behavior of the respondents and identification of the needs and interests of the population in improving their financial literacy level;

6. Comparison (based on the three rounds of the survey) of the dynamics of all the indicators of the Project deliverables;

7. Drafting recommendations for timely adoption of measures aimed at adjusting and clarifying the activities to raise the level of financial literacy of the population;

8. Assessment of effectiveness for activities conducted in pilot regions of the Project (Volgograd Oblast and Kaliningrad Oblast) starting from 2011 and in the participating regions of the Project starting from 2016 shall be defined by comparing the level of financial literacy of the population of these regions with similar indicators of benchmark regions;

9. Assessment of the financial literacy level of the remaining 74 regions of the Russian Federation[1][1] that do not participate in the Project, with subsequent preparation of the financial literacy rating of Russian regions.

Duration of Contract: 9 Month(s)