The impact of financial literacy on finance and economy: A literature review
Financial literacy encourages individuals and society to improve their financial well-being. Hence, increase their capabilities to take part in economic life. This paper aims to investigate the impact of financial literacy on finance and economy. An extensive review of financial literacy literature...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Universiti Malaysia Sabah
2022
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| Online Access: | http://umpir.ump.edu.my/id/eprint/36579/1/UMS.pdf |
| _version_ | 1796995522778628096 |
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| author | Bunyamin, Mubarokah Abdul Wahab, Norwazli |
| author_facet | Bunyamin, Mubarokah Abdul Wahab, Norwazli |
| author_sort | Bunyamin, Mubarokah |
| collection | UMP |
| description | Financial literacy encourages individuals and society to improve their financial well-being. Hence, increase their capabilities to take part in economic life. This paper aims to investigate the impact of financial literacy on finance and economy. An extensive review of financial literacy literature is carried out, with a specific attention on its correlation with financial and economic aspects. This study unveils that financial literacy gives impacts on personal financial decisions, behaviour, saving and retirement, investment, financial risk tolerance, business, and national economy. This paper will be useful to economists and technologist about the importance of financial literacy with the suggestions on the role of financial technology (FinTech) in enhancing financial literacy, thus financial well-being as well as overall well-being towards industrial revolution 4.0 (IR 4.0). |
| first_indexed | 2024-03-06T13:03:35Z |
| format | Article |
| id | UMPir36579 |
| institution | Universiti Malaysia Pahang |
| language | English |
| last_indexed | 2024-03-06T13:03:35Z |
| publishDate | 2022 |
| publisher | Universiti Malaysia Sabah |
| record_format | dspace |
| spelling | UMPir365792023-01-06T04:12:54Z http://umpir.ump.edu.my/id/eprint/36579/ The impact of financial literacy on finance and economy: A literature review Bunyamin, Mubarokah Abdul Wahab, Norwazli HG Finance Financial literacy encourages individuals and society to improve their financial well-being. Hence, increase their capabilities to take part in economic life. This paper aims to investigate the impact of financial literacy on finance and economy. An extensive review of financial literacy literature is carried out, with a specific attention on its correlation with financial and economic aspects. This study unveils that financial literacy gives impacts on personal financial decisions, behaviour, saving and retirement, investment, financial risk tolerance, business, and national economy. This paper will be useful to economists and technologist about the importance of financial literacy with the suggestions on the role of financial technology (FinTech) in enhancing financial literacy, thus financial well-being as well as overall well-being towards industrial revolution 4.0 (IR 4.0). Universiti Malaysia Sabah 2022-12 Article PeerReviewed pdf en cc_by_4 http://umpir.ump.edu.my/id/eprint/36579/1/UMS.pdf Bunyamin, Mubarokah and Abdul Wahab, Norwazli (2022) The impact of financial literacy on finance and economy: A literature review. Labuan Bulletin of International Business and Finance (LBIBF), 20 (2). pp. 49-65. ISSN 2600- 7894. (Published) https://jurcon.ums.edu.my/ojums/index.php/lbibf/article/view/3677 |
| spellingShingle | HG Finance Bunyamin, Mubarokah Abdul Wahab, Norwazli The impact of financial literacy on finance and economy: A literature review |
| title | The impact of financial literacy on finance and economy: A literature review |
| title_full | The impact of financial literacy on finance and economy: A literature review |
| title_fullStr | The impact of financial literacy on finance and economy: A literature review |
| title_full_unstemmed | The impact of financial literacy on finance and economy: A literature review |
| title_short | The impact of financial literacy on finance and economy: A literature review |
| title_sort | impact of financial literacy on finance and economy a literature review |
| topic | HG Finance |
| url | http://umpir.ump.edu.my/id/eprint/36579/1/UMS.pdf |
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