Financial Literacy and Financial Inclusion Increasing Financial Resilience: A Literature Review

Abstract

The motivation of this research is 1) the differences in the findings of previous studies on the effect of financial literacy and financial inclusion on financial resilience; 2) there is no consensus on the definition and also measurement of research variables. This study describes the diversity of definitions, measurement of financial literacy, financial inclusion, and financial resilience. This study also describes financial literacy and financial inclusion's effect on financial resilience. This study uses a literature review by collecting related financial literacy, financial inclusion, and financial resilience articles. Article searches were conducted on the Scopus and Google Scholar databases using Publish or Perish software. Search using keywords financial literacy, financial inclusion, and financial resilience. The articles selected are international in English and were published from 2018 to 2022. A total of 19 articles on the relationship between financial literacy, financial inclusion, and financial resilience meet the requirements. The results of the study indicate that there is no consensus on financial literacy, financial inclusion, and financial resilience measurement. Most of the research results show a positive influence of financial literacy on financial inclusion and a positive impact of financial literacy and financial inclusion on financial resilience.