Financial Literacy on EU Financial Infrastructure and Institutions: Points of view from students of an EU candidate country

Abstract

Financial literacy and knowledge on EU accession and integration process in Albania have been one of the most untapped and unaddressed issues throughout the whole path of Albania towards the European Union structures. Acknowledging its stage of development serves as a solid basis for boosting efforts to equip Albanian citizens with relevant and proper knowledge and skills on the EU integration processes and its existing financial infrastructure. The study assesses the points of view of the Albanian youth about the EU integration & accession process, institutions, and financial policies. This study uses the Mind Genomics technique to have a quantitative valuation of this process. Results show that students have an opaque perception and display modest levels of knowledge about EU institutions & financial policies and the harmonization & alignment degree of Albanian economy and institutions with the Acquis. It concludes that they need to deepen the financial literacy and knowledge.