Financial Capability: a Bibliometric Analysis and Sustainable Future Research Directions

Abstract

Purpose: The purpose of this study is to provide a comprehensive scientific mapping of the research on financial capability in the fields of finance, economics, business, and management. The study aims to identify patterns and trends in the growth of knowledge in this area and generate a synthesis of knowledge on financial capability. Methodology: To achieve the objectives, the researchers employed a bibliometric analysis approach. A total of 1,225 publications from the Scopus database, including the first article on financial capability published in 1964 until 2023. Additionally, the VOSviewer tool are used for mapping analysis, which helped to visualize and analyse the relationships among different elements in the research. Results: The findings indicate a consistent increase in research on financial capability over the years. The growth in the number of publications demonstrates the growing interest and importance of this topic. Discussion: The study highlights the evolving nature of financial capability research and its multidisciplinary nature. The discussion delves into the implications of these findings, such as potential research gaps or areas that require further investigation. It also explores the interdisciplinary collaborations and trends within financial capability research. Conclusion: This study contributes to the understanding of financial capability. The identified patterns and trends can guide scholars, policymakers, and regulators in their efforts to develop a deeper understanding of financial capability and identify areas for future research. By synthesizing the current knowledge, this study lays the foundation for further advancements in the field of financial capability.