The DOI matches its Crossref record; 47 of the 47 references it cites were found in a registry or an index.
Financial literacy, financial inclusion, and savings behavior in Laos
Abstract
Abstract This study examines the effects of financial literacy on financial inclusion and savings behavior in Laos. Compared to previous literature, we use a broader definition of financial literacy which covers not only financial knowledge but also financial behavior and financial attitudes. We also use a new definition of financial inclusion which goes beyond the supply-side perspective to consider the consumer’s perspective. To do so, we use the survey instrument designed by the Organisation for Economic Cooperation and Development International Network on Financial Education. We also used more reliable instrumental variables to investigate the effects of financial literacy on financial inclusion (and its components) and savings behavior. We find that financial literacy has statistically positive effects on both financial inclusion and savings. Moreover, the effects of financial literacy on different measures of financial inclusion vary. Our results further show that individuals with higher financial literacy scores are more likely to hold savings in both formal and informal forms than those who have lower financial literacy scores, even when we control for income and education.
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Cites
The Economic Importance of Financial Literacy: Theory and Evidence
Lusardi, A., & Mitchell, O. S. (2014) · Journal of Economic Literature · doi:10.1257/jel.52.1.5 · Cited by 4,698
Financial literacy and stock market participation
van Rooij, M., Lusardi, A., & Alessie, R. (2011) · Journal of Financial Economics · doi:10.1016/j.jfineco.2011.03.006 · Cited by 3,554
The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution
Demirguc-Kunt, A., Klapper, L., Singer, D., Ansar, S., & Hess, J. (2018) · doi:10.1596/978-1-4648-1259-0 · Cited by 2,664
Financial Literacy, Financial Education, and Downstream Financial Behaviors
Fernandes, D., Lynch, J. G., & Netemeyer, R. G. (2014) · Management Science · doi:10.1287/mnsc.2013.1849 · Cited by 2,152
Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth
Lusardi, A., & Mitchell, O. S. (2007) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2006.12.001 · Cited by 2,140
The Miracle of Microfinance? Evidence from a Randomized Evaluation
Banerjee, A., Duflo, E., Glennerster, R., & Kinnan, C. (2015) · American Economic Journal: Applied Economics · doi:10.1257/app.20130533 · Cited by 2,076
(2003) · Federal Reserve Bulletin · Cited by 1,764
‘Do rural banks matter? Evidence from the Indian social banking experiment’
Burgess, R., & Pande, R. (2005) · American Economic Review · doi:10.1257/0002828054201242 · Cited by 1,480
The foundations of financial inclusion: Understanding ownership and use of formal accounts
Allen, F., Demirguc-Kunt, A., Klapper, L., & Martinez Peria, M. S. (2016) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2015.12.003 · Cited by 1,340
Reaching out: Access to and use of banking services across countries
Beck, T., Demirguc-Kunt, A., & Martinez Peria, M. S. (2007) · Journal of Financial Economics · doi:10.1016/j.jfineco.2006.07.002 · Cited by 1,166
Metadata
- Authors
- Morgan, P. J., & Long, T. Q.
- Venue
- Journal of Asian Economics
- Publisher
- Elsevier BV
- Published
- 2020-06
- Volume
- 68
- Pages
- 101197
- ISSN
- 1049-0078 (ISSN-L)
- OpenAlex
- W3023865532
- Cited by
- 304
- References
- 47
- FWCI
- 65.63
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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