Financial Literacy and Income Distribution of Rice Farmers

Sanglay, Preachy Mae; Apat, Elaine Joy C.; Sumague, Julieta; Tec, Efren

doi:10.53378/348732

Cited by 2 publications

(1 citation statement)

References 65 publications

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“…Sarsale (2021) even asserts that financial literacy has a positive correlation with entrepreneurial characteristics. With regard to determinants of financial literacy, age (Sanglay, Apat, Sumague, & Tec 2021), educational attainment (Sucuahi, 2013;Bangco et al, 2022;Guliman, 2015), marital status (Bangco et al, 2022), and gender (Sanglay, et al, 2021) are demographic factors found to have a significant positive correlation.…”

Section: Financial Literacy and Inclusion In The Philippinesmentioning

confidence: 99%

Financial Inclusion and the Role of Financial Literacy in the Philippines

Desello,

Agner

2023

IJEF

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Financial inclusion is increasingly seen as a key enabler of various development objectives. While not explicitly one of the UN Sustainable Development Goals (SDGs), financial inclusion is recognized as an important enabler for them. The Philippine central bank—the Bangko Sentral ng Pilipinas (BSP)—has even identified financial inclusion as a “national development agenda” that requires a conscious effort by various sectors to accelerate and enable its societal benefits. This paper studies the relationship between financial literacy and financial inclusion in the Philippines using data gathered from the 2019 Financial Inclusion Survey (FIS). We apply ownership of financial account and use of financial services as indicators of financial inclusion. Based on the results, financial literacy is a positive driver of financial inclusion. We calculated that a one-standard-deviation increase in financial literacy scores increased the likelihood of holding at least one account by 3.7 to 4.2 percentage points. On the other hand, a one-point increase in financial literacy scores improved the likelihood of availing of a financial service by 4.9 to 6.0 percentage points. The other drivers of owning at least one formal account and availing of financial services are age, gender, employment status, awareness of BSP’s programs, income above 40,000 PHP, and being the main household financial decision-maker. This paper aims to promote BSP’s agenda to bridge the financial inclusion gap and raise financial literacy levels in the country. With this study, the authors second BSP’s advocacy that financial inclusion is one of the instruments to attain sustainable and equitable development in the Philippines.

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Section: Financial Literacy and Inclusion In The Philippinesmentioning

confidence: 99%

Financial Inclusion and the Role of Financial Literacy in the Philippines

Desello,

Agner

2023

IJEF

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Community Governance, Financial Awareness, and Willingness to Participate in National Park Development: Evidence from the Giant Panda National Park

Feng

Yao

et al. 2022

Diversity

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Taking the Giant Panda National Park as an example, this paper uses factor analysis to measure residents’ financial awareness and mediating effect models to investigate the influence paths of community governance, financial awareness, and residents’ willingness to participate in the construction and development of national parks. Finally, it suggests potential solutions for national park development and biodiversity conservation. The results indicated that financial awareness and community governance levels had a positive effect on residents’ willingness to participate, and satisfaction with community governance played a significant partially mediating role in their financial awareness, which in turn influenced their level of willingness.

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Financial Literacy and Income Distribution of Rice Farmers

Cited by 2 publications

References 65 publications

Financial Inclusion and the Role of Financial Literacy in the Philippines

Financial Inclusion and the Role of Financial Literacy in the Philippines

Community Governance, Financial Awareness, and Willingness to Participate in National Park Development: Evidence from the Giant Panda National Park

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