Journal of Education and Research

Journal of Education and Research, Volume 14, Issue 1, 2024, 28-49, https://doi.org/10.51474/jer/16193

Publication date: Mar 27, 2024

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The eco-political perspective of financial literacy examines the interplay of finance, economics, and politics in shaping financial literacy's content, methodologies, and objectives. This paper critically analyzes stereotypes in financial education within both educational and financial sectors, highlighting overlooked aspects of financial literacy theories and practices in Nepal. Adopting a descriptive and analytical approach based on the neo-liberal financialization outlook of the 1970s, the study emphasizes how neo-liberalism has profoundly influenced human lives through money, finance, and banking. The paper identifies two key findings: a) Financial literacy initiatives' content, objectives, intentions, policies, priorities, processes, delivery mechanisms, and expected outcomes are heavily influenced by eco-political perspectives, and b) Non-commercialized financial education policies and curricula from the educational sector, along with autonomy-driven financial policy formulation from financial sector, are relatively appropriate. The paper concludes by rejecting stereotyped, commercialized, and uncritical financial literacy policies and initiatives. It advocates for a new discourse on the eco-political perspective of financial literacy initiatives to enable people to become financially literate and critical citizens.

financial literacy financialization neo-liberalism

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