Fintech and Financial Literacy in the Lao PDR

Morgan, Phillip L.; Trinh, Long Q.

doi:10.2139/ssrn.3398235

Cited by 66 publications

(82 citation statements)

References 14 publications

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“…The study from Ryu (2018) explains that the factors inhibiting fintech adoption include financial risk, legal uncertainty, security and privacy, and the inadequate operational system of fintech companies. In addition, low levels of financial literacy are also a barrier to public awareness in fintech adoption (Morgan and Trinh 2019;Yoshino et al 2020).…”

Section: Literature Review Hypotheses and Research Frameworkmentioning

confidence: 99%

Fintech and Financial Health in Vietnam during the COVID-19 Pandemic: In-Depth Descriptive Analysis

Nathan

Setiawan

Quynh

2022

JRFM

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The growing popularity of smartphones and the proliferation of technology have accelerated the development of the digital payment industry. Fintech enables customers to access financial services more efficiently and faster than traditional business, especially during the COVID-19 pandemic due to health protocols, including restrictions on physical contact. This study investigates financial literacy, fintech adoption, and the impact of the COVID-19 crisis on the financial health of consumers in Vietnam. The relatively higher level of the unbanked population in Vietnam and the lower level of adult financial literacy compared with the ASEAN region motivated this study. Based on judgment sampling, participants were approached using the mall intercept technique, and those familiar with fintech were selected for the research interview. Thirty participants were interviewed and were given a survey form to be filled online using their mobile phones. Data analysis was conducted using IBM SPSS software version 23. Perceived ease of use, perceived usefulness, trust, brand image, government support, user innovativeness, and attitude are found to be significantly correlated with fintech adoption in Vietnam, while financial literacy was found to be not significantly correlated with fintech adoption. Furthermore, further analysis using multiple linear regression revealed user innovativeness and attitude have a positive impact towards fintech adoption, and in contrast, financial literacy showed significant negative impact on fintech. This inverse relationship could indicate that in Vietnam, fintech may play a role of bringing financial inclusion where people with lower financial literacy are able to use technology for financial transactions, which was previously inaccessible to them. This could also mean that Vietnamese with higher financial literacy do not see fintech as an important tool for their financial transactions, as they may already have strong access to traditional financial facilities. This research contributes to knowledge in the field of Fintech adoption in Vietnam at the time of the COVID-19 outbreak. To foster greater financial inclusivity and access for the Vietnamese consumers, policy makers could promote the development of fintech business infrastructure and regulatory sandboxes to foster fintech startups.

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Section: Literature Review Hypotheses and Research Frameworkmentioning

confidence: 99%

Fintech and Financial Health in Vietnam during the COVID-19 Pandemic: In-Depth Descriptive Analysis

Nathan

Setiawan

Quynh

2022

JRFM

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“…Bapat (2019), Morgan and Trinh (2019) Consequences of PFM 24 Whether there is an existence of linear relationship between income, PFM and happiness? Stevenson and Wolfers (2013) 25 Whether relationship exists between financial attitude, financial behavior and financial satisfaction?…”

Section: Antecedents Of Pfmmentioning

confidence: 99%

“…There is also a relationship between FL and fintech. Low FL leads to low adoption of fintech (Morgan and Trinh, 2019). However, how fintech may influence FL is another compelling future research area.…”

Section: Moderatorsmentioning

confidence: 99%

Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda

Goyal

Kumar

Xiao

2021

IJBM

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PurposeThe purpose of this paper is to investigate the current state of research on Personal Financial Management Behavior (PFMB), with a prime focus on its antecedents and the consequences. By analyzing the research trends, methods, determinants and outcomes, the PFMB literature is synthesized, and agenda for future research is suggested. A framework is presented that portrays PFMB's antecedents and consequences and further specification of the mediation and moderation linkages.Design/methodology/approachThe review is based on 160 articles published during 1970–2020. It follows a systematic approach and presents the definitions and theories of PFMB, publication trends based on time, region, sample population, research designs, data collection and analysis techniques, along with antecedents and outcomes through content analysis.FindingsThe synthesis draws upon various factors affecting PFMB, such as demographics, socio-economic, psychological, social, cultural, financial experience, financial literacy (FL) and technological factors. The prominent outcomes of PFMB include financial satisfaction, relationship satisfaction, quality of life, financial success, happiness, financial vulnerability/resilience and financial well-being. The future research agenda sums up the recommendations in the form of research questions on variables and their linkages, followed by methodological advancements.Originality/valueThis paper covers the scholarly work done in this area in the past 51 years. To the best of authors' knowledge, this is the first attempt to offer a most comprehensive and collective scholarship of this subject. It further gives an extensive future research agenda.

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“…Several studies on the effect of financial literacy on interest using electronic money have been conducted (e.g., Servon & Kaetner (2008); Swiecka (2018) and Morgan and Trinh (2020)). Servon and Kaetner proved a potential link between information and communications technologies and financial literacy.…”

Section: Introductionmentioning

confidence: 99%

The Effect of Financial Literacy and other Determinants on the Intention to Use Electronic Money: Consumer Behavior as a Variable Mediation

Satoto

Putra

2021

IJABIM

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The purpose of this study is to investigate how financial literacy and other determinants affect the intention to use electronic money with consumer behavior as a mediating variable. The other determinants are financial capabilities, perceived benefits, and perceived ease of use. The data were collected by distributing questionnaires and analyzed using path analysis. The findings indicate financial literacy, financial capability, perceived benefits, and perceived ease of use directly influence the intention to use electronic money. Moreover, consumer behavior is able to mediate the influence of financial literacy, financial capability, and perceived ease of use, yet unable to mediate the effect of perceived benefits on intention to use electronic money.

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Fintech and Financial Literacy in the Lao PDR

Cited by 66 publications

References 14 publications

Fintech and Financial Health in Vietnam during the COVID-19 Pandemic: In-Depth Descriptive Analysis

Fintech and Financial Health in Vietnam during the COVID-19 Pandemic: In-Depth Descriptive Analysis

Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda

The Effect of Financial Literacy and other Determinants on the Intention to Use Electronic Money: Consumer Behavior as a Variable Mediation

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