Financial Literacy and Consumer Protection Survey in the Kingdom of Morocco-2013
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Financial Literacy and Consumer Protection Survey in the Kingdom of Morocco-2013 Technical Report 1818 H Street NW, Washington, DC 20433 USA 4124A St-Catherine West, Montreal, Canada H3Z 1P4 [email protected] Tel: (514) 939-2296 [email protected] Financial Literacy Survey and Consumer Protection in Morocco – 2013 Technical report Confidential – Do not quote without authorization Table of contents 1. INTRODUCTION ................................................................................................................................. 2 2. OBJECTIVES OF THE SURVEY ........................................................................................................ 2 3. DESCRIPTION OF THE SURVEY TOOL ........................................................................................ 3 3.1 Selection of the respondent ........................................................................................................ 3 4. SAMPLING STRUCTURE AND SAMPLING STRATEGY ............................................................ 7 4.1 The sample frame .......................................................................................................................... 7 4.2 Sampling design .............................................................................................................................. 8 4.3 Stratification .................................................................................................................................... 9 4.4 Sample allocation ......................................................................................................................... 10 4.5 The sampling strategy ................................................................................................................ 14 5. TRAINING AND PILOTING ......................................................................................................... 17 5.1 Training ........................................................................................................................................... 17 5.2 Piloting .......................................................................................................................................................... 17 5.2.1 Objectives of the pilot survey .............................................................................................................. 17 5.2.2 Conducting the pilot survey ................................................................................................................. 18 5.2.3 The majors results of the pilot survey ............................................................................................. 19 6. TECHNICAL REPORT ...................................................................................................................... 20 6.1 Non response ................................................................................................................................. 20 6.2 Weights ............................................................................................................................................ 20 -1- Financial Literacy Survey and Consumer Protection in Morocco – 2013 Technical report Confidential – Do not quote without authorization 1. INTRODUCTION The Financial Literacy and Consumer Protection Survey is part of the Global Program on Consumer Protection and Financial Literacy of The World Bank Group. This Program seeks to help countries achieve concrete measurable improvements in financial literacy and consumer protection. This survey is an initiative to obtain country-specific information regarding households’ prevailing levels of understanding of basic financial concepts, their patterns of budget management and their usage of financial services. This is a national representative survey that will be collected in different countries, allowing for cross-country comparisons. Étude Économique Conseil (EEC Canada), a Montreal based consulting firm, was hired to conduct the Financial Literacy and Consumer Protection Survey in Morocco, and to build comprehensive knowledge on various issues that will be utilized in analysis. EEC Canada is responsible notably for the overall management, planning, and supervision of the survey. This includes planning and monitoring the fieldwork, training of interviewers, supervision of interviewers, implementation of quality controls, validation and auditing of questionnaires, and data entry and cleaning. 2. OBJECTIVES OF THE SURVEY The objective of this survey is to have a baseline analysis of the levels of financial literacy across the population. This baseline analysis will: Assist authorities design appropriate interventions to increase the level of financial literacy. The baseline analysis will outline what the policy priorities are. Help define targets that are realistic and can be monitored. The Financial Literacy and Consumer Protection Survey in Morocco is intended to be a national representative survey of a total sample of 3,000 households. With a theoretical non-response rate of 25%, the target sample was set at 4000 households. The sample was selected in a three-stage cluster sampling with probability proportional to size (PPS) selection at the first stage the EA being used as the primary sampling units and an equal-probability sampling at the second stage and the third stage. In order to achieve a target sample of 3000 households, EEC Canada covered 200 primary sampling units (PSU), selected with probability proportional to size (PPS) (number of households). In each selected PSU, a secondary sampling unit was randomly drawn and within the secondary sampling unit 20 households (out of which 5 were reserve households for replacement purpose only) were randomly drawn, of which 15 households were targeted for surveying. The survey targeted household members who were responsible for the household’s budget or their own personal spending. In order to measure financial literacy, the survey covered various subjects related to the respondent’s behavior, attitudes, motivations and knowledge with respect to financial issues. The questions of the survey span from objective information from the household such as day-to-day money management and usage of financial products, to hypothetical questions that measure the financial skills of household members. -2- Financial Literacy Survey and Consumer Protection in Morocco – 2013 Technical report Confidential – Do not quote without authorization 3. DESCRIPTION OF THE SURVEY TOOL 3.1 Selection of the respondent 3.1 Selection of the respondent The selection of the individual respondent followed a three-step approach, as illustrated by Table 3.1: a) Firstly, a respondent who was likely the household head or any other responsible adult in the household who was knowledgeable about all other members of the household was contacted. This first respondent completed the ROSTER containing all the descriptive information about household members; b) Secondly, following eligibility criteria, a respondent from the roster was randomly selected with a special tool: the KISH table. The person selected could be different from the one who previously completed the roster. There were two criteria for identifying which household members within the roster were eligible to respond to the questionnaire: - The respondent had to be 18 or older - The respondent had either to participate in the household’s decisions about money and financial matters or in decisions about household spending OR had to be responsible of his/her own personal spending. c) Thirdly, once the respondent selected accepted to participate, he/she answered questions that classified the respondent into one of the following two categories: - The respondent was answering for himself/herself and his/her household, or - The respondent was answering only for himself/herself. 3.2 The Questionnaires 3.2.1 The Household Questionnaire The Household questionnaire contained two major parts: a) The first major part included: - A roster, in which all the information about all household members was registered, - A table (the KISH Table) which was used to randomly select the respondent and, - A last portion gathering individual information about the selected respondent in order to identify how the respondent would answer the questionnaire (both himself/herself and his/her household OR as an individual only). At the end of this first part, the respondent was selected and should be ready to answer the rest of the questionnaire. b) The second major part, as illustrated by Table 3.2, includes all the questions of the Financial Literacy Survey distributed among six sections B, C, D, E, F and G Section B: Money Management, Section C: Financial Planning, Section D: Financial Services and Products Details, -3- Financial Literacy Survey and Consumer Protection in Morocco – 2013 Technical report Confidential – Do not quote without authorization Section E: Financial Literacy, Section F: Household Income Estimation, Section G: Concluding Questions: this last section included a set of questions answered exclusively by the enumerator, in order to verify logical consistency between some questions. Sections B and C were answered by the respondent according to the type of the respondent as classified by Section A (answering for both himself/herself and his/her household OR answering as an individual only). For sections D, E, F and G, the respondent answered according to what was mentioned in the question (for the respondent only OR