Official Authorities and Education in Financial Literacy – the Role of Central banks in the Czech Republic and Poland

Abstract

The objective of this article is to analyse, on the example of Poland and the Czech Republic, actions undertaken by the central banks in the scope of economic and financial education. The study covers an analysis of applied tools and media in the framework of individual target groups. The adjustment of these actions to the long-term context - national strategies shaped by the central banks in accordance with the solutions recommended by OECD was also considered in the study. Undertaking comparative research stemmed, on the one hand, from the neighbouring location of the two countries, a similar level of economic development and a similar role of central banking in their respective economies, whilst on the other hand, from the analysis of study results concerning knowledge and economic awareness and financial competencies of inhabitants of both countries. In both countries, financial literacy is constantly improving. However, it is not possible to determine the direct impact of central bank activities and other educational activities.