Financial Literacy: Literature Review and Research Directions

Stanley Yap Peng Lok (), Wei Ying Chong () and Hon Wei Leow ()
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Stanley Yap Peng Lok: SEGi University
Wei Ying Chong: SEGi University
Hon Wei Leow: SEGi

No 5607972, Proceedings of Business and Management Conferences from International Institute of Social and Economic Sciences

Abstract: In contemporary world, the ability of knowing and understanding financial concepts and matter are important for individual economic well-being. Policymakers have embraced financial literacy as antidote for global financial crisis and increase bankruptcies. This has resulted in a growing interest among academic and industrial researchers, industrialists and policy makers to explore the link between financial literacy and financial behaviour. This paper provides a critical review of literature on financial literacy, with an emphasis on the link between financial literacy and financial behaviour. A systematic review of the relationship of financial literacy and financial behaviour from 2005-2015 has been conducted. The similarities and discrepancies among studies are evaluated and discussed in length. Future research directions are outlined.

Keywords: Financial Literacy; Financial Behavior; Systematic Review; Behavioral Finance (search for similar items in EconPapers)
JEL-codes: D10 D14 G02 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2017-07
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Published in Proceedings of the Proceedings of the 6th Business & Management Conference, Geneva, Jul 2017, pages 237-243

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Persistent link: https://EconPapers.repec.org/RePEc:sek:ibmpro:5607972

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