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Fintech and Financial Literacy in the Lao PDR
Peter J. Morgan,Long Q. Trinh +1 more
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In this paper, the authors examined the relationship between financial literacy and the awareness and adoption of financial technology (fintech) products, i.e., financial products provided via internet-based and mobile-based platforms.Abstract:
A growing literature has examined the role of financial literacy in an individual’s income, saving behavior and the use of various financial products. However, so far, no one has examined the relationship between financial literacy and the awareness and adoption of financial technology (fintech) products, i.e., financial products provided via internet-based and mobile-based platforms. This paper examines this relationship in a developing country, the Lao People’s Democratic Republic (PDR). We use information collected in the Lao PDR using the standardized questionnaire developed by the Organization for Economic Cooperation and Development International Network on Financial Education (OECD/INFE) to calculate our financial literacy. We find that a higher level of financial literacy has strong and positive effects on an individual’s awareness of fintech products. This result still holds when we use a set of instrumental variables for the financial literacy variable. However, there is insufficient data to find a significant relationship between financial literacy and the use of fintech products.read more
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Financial literacy, financial inclusion, and savings behavior in Laos
Peter J. Morgan,Trinh Quang Long +1 more
TL;DR: In this paper, the authors examined the effects of financial literacy on financial inclusion and savings behavior in Laos and found that individuals with higher financial literacy scores are more likely to hold savings in both formal and informal forms.
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Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda
TL;DR: In this article, the authors investigate the current state of research on Personal Financial Management Behavior (PFMB), with a prime focus on its antecedents and the consequences, by analyzing the research trends, methods, determinants and outcomes, the PFMB literature is synthesized and agenda for future research is suggested.
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Digital financial literacy, current behavior of saving and spending and its future foresight
TL;DR: In this article, the authors investigated the relationship among digital financial literacy, current saving behavior, current spending behavior, and foresight of future spending and saving behavior among Independents.
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Building Financial Resilience Through Financial and Digital Literacy in South Asia and Sub-Saharan Africa
TL;DR: In this paper, the authors used data from the InterMedia Financial Inclusion Insights (FII) surveys for seven South Asian and Sub-Saharan African countries to investigate the relationship between multidimensional measures of financial and digital literacy and resilience-building financial behaviors, including saving, borrowing, and risk management.
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The Economic Importance of Financial Literacy: Theory and Evidence
TL;DR: An assessment of a rapidly growing body of economic research on financial literacy and thoughts on what remains to be learned if researchers are to better inform theoretical and empirical models as well as public policy are offered.
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Financial Literacy and Stock Market Participation
TL;DR: In this article, the authors evaluated the importance of financial literacy by studying its relation to the stock market: are more financially knowledgeable individuals more likely to hold stocks? To assess the direction of causality, they make use of questions measuring financial knowledge before investing in the stock markets.
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Cognitive Abilities and Portfolio Choice
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