Financial Literacy and Financial Services Survey 2011
Bosnia-Herzegovina, 2011
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May 17, 2012
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Identification
Survey ID Number
BIH_2011_FLFS_v01_M
Title
Financial Literacy and Financial Services Survey 2011
Country/Economy
| Name | Country code |
|---|---|
| Bosnia and Herzegovina | BIH |
Study type
Other Household Health Survey [hh/hea]
Abstract
The survey on financial literacy among the citizens of Bosnia and Herzegovina was conducted within a larger project that aims at creating the Action Plan for Consumer Protection in Financial Services.
The conclusion about the need for an Action Plan was reached by the representatives of the World Bank, the Federal Ministry of Finance, the Central Bank of Bosnia and Herzegovina, supervisory authorities for entity financial institutions and non-governmental organizations for the protection of consumer rights, based on the Diagnostic Review on Consumer Protection and Financial Literacy in Bosnia and Herzegovina conducted by the World Bank in 2009-2010. This diagnostic review was conducted at the request of the Federal Ministry of Finance, as part of a larger World Bank pilot program to assess consumer protection and financial literacy in developing countries and middle-income countries. The diagnostic review in Bosnia and Herzegovina was the eighth within this project.
The financial literacy survey, whose results are presented in this report, aims at establishing the basic situation with respect to financial literacy, serving on the one hand as a preparation for the educational activities plan, and on the other as a basis for measuring the efficiency of activities undertaken.
The conclusion about the need for an Action Plan was reached by the representatives of the World Bank, the Federal Ministry of Finance, the Central Bank of Bosnia and Herzegovina, supervisory authorities for entity financial institutions and non-governmental organizations for the protection of consumer rights, based on the Diagnostic Review on Consumer Protection and Financial Literacy in Bosnia and Herzegovina conducted by the World Bank in 2009-2010. This diagnostic review was conducted at the request of the Federal Ministry of Finance, as part of a larger World Bank pilot program to assess consumer protection and financial literacy in developing countries and middle-income countries. The diagnostic review in Bosnia and Herzegovina was the eighth within this project.
The financial literacy survey, whose results are presented in this report, aims at establishing the basic situation with respect to financial literacy, serving on the one hand as a preparation for the educational activities plan, and on the other as a basis for measuring the efficiency of activities undertaken.
Kind of Data
Sample survey data [ssd]
Unit of Analysis
Household, individual
Scope
Notes
The first section of the study deals with financial literacy and its various aspects. Based on these data, the Financial Literacy Index was derived (a single-dimension composite scale of financial knowledge and capability). Next sections deal with managing everyday financial choices (saving, covering shortages etc.) in the context of general household financial situation. .
Coverage
Geographic Coverage
Data collection was based on a random, nation-wide sample of citizens of Bosnia and Herzegovina aged 18 or older (N = 1036).
Universe
Population aged 18 or older
Producers and sponsors
Primary investigators
| Name |
|---|
| IPSOS |
Funding Agency/Sponsor
| Name |
|---|
| World Bank |
Other Identifications/Acknowledgments
| Name | Affiliation | Role |
|---|---|---|
| Dragan Bagic | Department for Sociology at the Zagreb Faculty of Philosophy | Supervised data collection, conducted statistical analysis of collected data |
Sampling
Sampling Procedure
SUMMARY
In Bosnia and Herzegovina, as is well known, there is no completely reliable sample frame or information about universe. The main reasons for such a situation are migrations caused by war and lack of recent census data. The last census dates back to 1991, but since then the size and distribution of population has significantly changed. In such a situation, researchers have to combine all available sources of population data to estimate the present size and structure of the population: estimates by official statistical offices and international organizations, voters? lists, list of polling stations, registries of passport and ID holders, data from large random surveys etc.
The sample was three-stage stratified: in the first stage by entity, in the second by county/region and in the third by type of settlement (urban/rural). This means that, in the first stage, the total sample size was divided in two parts proportionally to number of inhabitants by entity, while in the second stage the subsample size for each entity was further divided by regions/counties. In the third stage, the subsample for each region/county was divided in two categories according to settlement type (rural/urban).
Taking into the account the lack of a reliable and complete list of citizens to be used as a sample frame, a multistage sampling method was applied. The list of polling stations was used as a frame for the selection of primary sampling units (PSU). Polling station territories are a good choice for such a procedure since they have been recently updated, for the general elections held in October 2010. The list of polling station territories contains a list of addresses of housing units that are certainly occupied.
In the second stage, households were used as a secondary sampling unit. Households were selected randomly by a random route technique. In total, 104 PSU were selected with an average of 10 respondents per PSU. The respondent from the selected household was selected randomly using the Trohdal-Bryant scheme.
In total, 1036 citizens were interviewed with a satisfactory response rate of around 60% (table 1). A higher refusal rate is recorded among middle-age groups (table 2). The theoretical margin of error for a random sample of this size is +/-3.0%.
Due to refusals, the sample structure deviated from the estimated population structure by gender, age and education level. Deviations were corrected by RIM weighting procedure.
MORE DETAILED INFORMATION
IPSOS designed a representative sample of approximately 1.000 residents age 18 and over, proportional to the adult populations of each region, based on age, sex, region and town (settlement) type.
For this research we designed three-stage stratified representative sample. First we stratify sample at entity level, regional level and then at settlement type level for each region.
Sample universe:
Population of B&H -18+; 1991 Census figures and estimated population dynamics, census figures of refugees and IDPs, 1996. Central Election Commision - 2008; CIPS - 2008;
Sampling frame:
Polling stations territory (approximate size of census units) within strata defined by regions and type of settlements (urban and rural) Polling stations territories are chosen to be used as primary units because it enables the most reliable sample selection, due to the fact that for these units the most complete data are available (dwelling register - addresses)
Type of sample:
Three stage random representative stratified sample
Definition and number of PSU, SSU, TSU, and sampling points
- PSU - Polling station territory Definition: Polling stations territories are defined by street(s) name(s) and dwelling numbers; each polling station territory comprises approximately 300 households, with exception of the settlements with less than 300 HH which are defined as one unite. Number of PSUs in sample universe: 4710
- SSU - Household Definition: One household comprises people living in the same apartment and sharing the expenditure for food
- TSU - Respondent Definition: Member of the HH , 18+ Number of TSUs in sample universe: = 2.966.766
- Sampling points Approximately 10 respondents per one PSU, total 104
Stratification, purpose and method
- First level strata: Federation of B&H Republika Srpska Brc ko District
- Second level strata: 10 cantons 2 regions -
- Third level strata: urban and rural settlements
- Purpose: Optimisation of the sample plan, and reducing the sampling error
- Method: The strata are defined by criteria of optimal geographical and cultural uniformity
- Selection procedure of PSU, SSU, and respondent Stratification, purpose and method
* PSU Type of sampling of the PSU: Polling station territory chosen with probability proportional to size (PPS) Method of selection: Cumulative (Lachirie method)
* SSU Type of sampling of the SSU: Sample random sampling without replacement Method of selection: Random walk - Random choice of the starting point
* TSU - Respondent Type of sampling of respondent: Sample random sampling without replacement Method of selection: TCB (Trohdal-Bryant scheme)
- Sample size N=1036 respondents
- Sampling error Marginal error +/-3.0%
In Bosnia and Herzegovina, as is well known, there is no completely reliable sample frame or information about universe. The main reasons for such a situation are migrations caused by war and lack of recent census data. The last census dates back to 1991, but since then the size and distribution of population has significantly changed. In such a situation, researchers have to combine all available sources of population data to estimate the present size and structure of the population: estimates by official statistical offices and international organizations, voters? lists, list of polling stations, registries of passport and ID holders, data from large random surveys etc.
The sample was three-stage stratified: in the first stage by entity, in the second by county/region and in the third by type of settlement (urban/rural). This means that, in the first stage, the total sample size was divided in two parts proportionally to number of inhabitants by entity, while in the second stage the subsample size for each entity was further divided by regions/counties. In the third stage, the subsample for each region/county was divided in two categories according to settlement type (rural/urban).
Taking into the account the lack of a reliable and complete list of citizens to be used as a sample frame, a multistage sampling method was applied. The list of polling stations was used as a frame for the selection of primary sampling units (PSU). Polling station territories are a good choice for such a procedure since they have been recently updated, for the general elections held in October 2010. The list of polling station territories contains a list of addresses of housing units that are certainly occupied.
In the second stage, households were used as a secondary sampling unit. Households were selected randomly by a random route technique. In total, 104 PSU were selected with an average of 10 respondents per PSU. The respondent from the selected household was selected randomly using the Trohdal-Bryant scheme.
In total, 1036 citizens were interviewed with a satisfactory response rate of around 60% (table 1). A higher refusal rate is recorded among middle-age groups (table 2). The theoretical margin of error for a random sample of this size is +/-3.0%.
Due to refusals, the sample structure deviated from the estimated population structure by gender, age and education level. Deviations were corrected by RIM weighting procedure.
MORE DETAILED INFORMATION
IPSOS designed a representative sample of approximately 1.000 residents age 18 and over, proportional to the adult populations of each region, based on age, sex, region and town (settlement) type.
For this research we designed three-stage stratified representative sample. First we stratify sample at entity level, regional level and then at settlement type level for each region.
Sample universe:
Population of B&H -18+; 1991 Census figures and estimated population dynamics, census figures of refugees and IDPs, 1996. Central Election Commision - 2008; CIPS - 2008;
Sampling frame:
Polling stations territory (approximate size of census units) within strata defined by regions and type of settlements (urban and rural) Polling stations territories are chosen to be used as primary units because it enables the most reliable sample selection, due to the fact that for these units the most complete data are available (dwelling register - addresses)
Type of sample:
Three stage random representative stratified sample
Definition and number of PSU, SSU, TSU, and sampling points
- PSU - Polling station territory Definition: Polling stations territories are defined by street(s) name(s) and dwelling numbers; each polling station territory comprises approximately 300 households, with exception of the settlements with less than 300 HH which are defined as one unite. Number of PSUs in sample universe: 4710
- SSU - Household Definition: One household comprises people living in the same apartment and sharing the expenditure for food
- TSU - Respondent Definition: Member of the HH , 18+ Number of TSUs in sample universe: = 2.966.766
- Sampling points Approximately 10 respondents per one PSU, total 104
Stratification, purpose and method
- First level strata: Federation of B&H Republika Srpska Brc ko District
- Second level strata: 10 cantons 2 regions -
- Third level strata: urban and rural settlements
- Purpose: Optimisation of the sample plan, and reducing the sampling error
- Method: The strata are defined by criteria of optimal geographical and cultural uniformity
- Selection procedure of PSU, SSU, and respondent Stratification, purpose and method
* PSU Type of sampling of the PSU: Polling station territory chosen with probability proportional to size (PPS) Method of selection: Cumulative (Lachirie method)
* SSU Type of sampling of the SSU: Sample random sampling without replacement Method of selection: Random walk - Random choice of the starting point
* TSU - Respondent Type of sampling of respondent: Sample random sampling without replacement Method of selection: TCB (Trohdal-Bryant scheme)
- Sample size N=1036 respondents
- Sampling error Marginal error +/-3.0%
Response Rate
- Nobody at home: 2,8%
- Eligible person is not home: 2,8%
- Refusal : 32,79%
- Given up after a minimum of two visits: 0,82%
- Other (excluded after control): 0,29%
- Finished: 60,5%
- Eligible person is not home: 2,8%
- Refusal : 32,79%
- Given up after a minimum of two visits: 0,82%
- Other (excluded after control): 0,29%
- Finished: 60,5%
Data Collection
Dates of Data Collection
| Start | End |
|---|---|
| 2011-05-04 | 2011-04-15 |
Data Collection Mode
Face-to-face [f2f]
Supervision
Every interview conducted is recorded in the Interviewers' Diary which contains the following survey management information:
- A unique identification number for each respondents,
- Sampling point of the interview, date of interview,
- Time of the start and end of the interview,
- Municipality where interview was realized, region, settlement
- Interviewer code (a unique number assigned to each individual interviewer)
- Number of visits required to complete interview
- Non-response (full description of the non-response occasion)
Quality control in the field
Interviewers were monitored in several ways. First, regional coordinators checked 5% of each interviewers work in the field. Second, 20-25% of interviewers' work was checked by phone from our central office. Fieldwork control verifies the following aspects of interviewers' work:
- Fact that the interview has actually taken place;
- Proper application of the sampling plan in selecting the respondents;
- Approximate duration of the interview;
- Proper administration of the various sections of the questionnaire, and
- Interviewers' general adherence to professional standards.
Following data collection, 100% logic and consistency controls are performed, both by local supervisors and staff in local office.
Finally, IPSOS, as associated member of ESOMAR, the most prominent organization for marketing and public opinion research, conservatively respects the rules and principles established in ICC/ESOMAR international rules for marketing research
- A unique identification number for each respondents,
- Sampling point of the interview, date of interview,
- Time of the start and end of the interview,
- Municipality where interview was realized, region, settlement
- Interviewer code (a unique number assigned to each individual interviewer)
- Number of visits required to complete interview
- Non-response (full description of the non-response occasion)
Quality control in the field
Interviewers were monitored in several ways. First, regional coordinators checked 5% of each interviewers work in the field. Second, 20-25% of interviewers' work was checked by phone from our central office. Fieldwork control verifies the following aspects of interviewers' work:
- Fact that the interview has actually taken place;
- Proper application of the sampling plan in selecting the respondents;
- Approximate duration of the interview;
- Proper administration of the various sections of the questionnaire, and
- Interviewers' general adherence to professional standards.
Following data collection, 100% logic and consistency controls are performed, both by local supervisors and staff in local office.
Finally, IPSOS, as associated member of ESOMAR, the most prominent organization for marketing and public opinion research, conservatively respects the rules and principles established in ICC/ESOMAR international rules for marketing research
Data Collection Notes
Data for this survey were collected by means of in-home face-to-face interviews, using a highly structured questionnaire. Data collection was conducted by the Ipsos agency. All interviewers participating in data collection were specifically trained for this project, including detailed rules for the selection of respondents, rules for asking respondents questions and rules for data collection itself. Seven local coordinators (Sarajevo, Tuzla, Zenica, Mostar, Bihac, Banja Luka, and Bijeljina) conducted verbal instructions in their respective areas, based on written instructions prepared by Ipsos researchers with the help of consultants working on this project. Interviewers engaged in particular regions were selected depending on their ethnic and local language background in order to decrease refusal rates and to avoid negative "halo effect". Data collection was performed from 4th May to 15th May 2011.
IPSOS filed work is organized in following way:
We have 7 local coordinators in B&H, in 7 centers of major regions: Sarajevo, Tuzla, Zenica, Mostar, Bihac, Banja Luka, Bijeljina. Each of them controls a number of trained interviewers, on a daily basis. In our Sarajevo office we have central fieldwork manger that is responsible for central coordination of project in B&H.
Each local coordinator organizes trainings for their interviewers.
Interviewers are obligated to send completed interviews to their local coordinator every day.
Interviewers engaged in particular regions were selected depending on their ethnic and local language background in order to decrease response rates and to avoid "halo effect".
Both coordinators and interviewers received training in details on project subject, target group(s), techniques in selecting households and respondents, rules for back-checks, recording response rates
Scheduling and assignment of interviews
* Interviewer had to find the starting point according the instructions (street and number of the dwelling/ building). From the starting point, interviewer went into the instructed direction in order to identify the first dwelling (e.g. goes in direction of increasing numbers of dwellings and on the right side of the street, and enters into the third dwelling from the starting point ). When enters in the dwelling, he/she follows the procedure of choosing the apartment (only one apartment in the building can be visited in a family house, but several in high-rise buildings); the interviewer is instructed in which floor to go, and how to choose the apartment, etc.)
* After choosing the apartment, interviewer use TCB tables for the choice of the respondent
* Non response situations
a) No one at home: interviewer comes back at least 1 time in another time of day, if without success.
b) Refused by the person who open the door: interviewer is not coming back, and notes it with all details (sex, age of the assumed respondent, reasons for the interview not being realized) in the interviewer's diary (contact form)
c) The respondent not available: same as under (a)
d) Selected respondent refuses the interview: respondent is not replaced by another person from the same HH, interviewer notes it with all details (sex, age of the assumed respondent, reasons for the interview not being realized) in the interviewer's diary (contact form)
Interviewers are taking notes in Interviewers diary (contact form).
Interviewers are instructed to schedule the interviews in the afternoon-after working hour, except on weekends.
All interviewers attend the training and are provided with written instructions of respondent selection and questionnaire specific questions.
IPSOS filed work is organized in following way:
We have 7 local coordinators in B&H, in 7 centers of major regions: Sarajevo, Tuzla, Zenica, Mostar, Bihac, Banja Luka, Bijeljina. Each of them controls a number of trained interviewers, on a daily basis. In our Sarajevo office we have central fieldwork manger that is responsible for central coordination of project in B&H.
Each local coordinator organizes trainings for their interviewers.
Interviewers are obligated to send completed interviews to their local coordinator every day.
Interviewers engaged in particular regions were selected depending on their ethnic and local language background in order to decrease response rates and to avoid "halo effect".
Both coordinators and interviewers received training in details on project subject, target group(s), techniques in selecting households and respondents, rules for back-checks, recording response rates
Scheduling and assignment of interviews
* Interviewer had to find the starting point according the instructions (street and number of the dwelling/ building). From the starting point, interviewer went into the instructed direction in order to identify the first dwelling (e.g. goes in direction of increasing numbers of dwellings and on the right side of the street, and enters into the third dwelling from the starting point ). When enters in the dwelling, he/she follows the procedure of choosing the apartment (only one apartment in the building can be visited in a family house, but several in high-rise buildings); the interviewer is instructed in which floor to go, and how to choose the apartment, etc.)
* After choosing the apartment, interviewer use TCB tables for the choice of the respondent
* Non response situations
a) No one at home: interviewer comes back at least 1 time in another time of day, if without success.
b) Refused by the person who open the door: interviewer is not coming back, and notes it with all details (sex, age of the assumed respondent, reasons for the interview not being realized) in the interviewer's diary (contact form)
c) The respondent not available: same as under (a)
d) Selected respondent refuses the interview: respondent is not replaced by another person from the same HH, interviewer notes it with all details (sex, age of the assumed respondent, reasons for the interview not being realized) in the interviewer's diary (contact form)
Interviewers are taking notes in Interviewers diary (contact form).
Interviewers are instructed to schedule the interviews in the afternoon-after working hour, except on weekends.
All interviewers attend the training and are provided with written instructions of respondent selection and questionnaire specific questions.
Questionnaires
Questionnaires
The survey was modelled after the identical survey conducted in Romania. The questionnaire used in the Financial Literacy Survey in Romania was localized for Bosnia and Herzegovina, including adaptations to match the Bosnian context and methodological improvements in wording of questions.
Data Processing
Data Editing
Before data entry, 100% logic and consistency controls are performed first by local supervisors and once later by staff in central office.
Verification of correct data entry is assured by using BLAISE system for data entry (commercial product of Netherlands statistics), where criteria for logical and consistency control are defined in advance.
Verification of correct data entry is assured by using BLAISE system for data entry (commercial product of Netherlands statistics), where criteria for logical and consistency control are defined in advance.
Access policy
Citation requirements
Use of the dataset must be acknowledged using a citation which would include:
- the Identification of the Primary Investigator
- the title of the survey (including country, acronym and year of implementation)
- the survey reference number
- the source and date of download
- the Identification of the Primary Investigator
- the title of the survey (including country, acronym and year of implementation)
- the survey reference number
- the source and date of download
Disclaimer and copyrights
Disclaimer
The user of the data acknowledges that the original collector of the data, the authorized distributor of the data, and the relevant funding agency bear no responsibility for use of the data or for interpretations or inferences based upon such uses.
Metadata production
DDI Document ID
DDI_BIH_2011_FLFS_v01_M_WB
Producers
| Name |
|---|
| World Bank |
Date of Metadata Production
2012-04-29