Understanding Financial Inclusion in Vietnam

Son, Tran Hung; Liêm, Nguyễn Thanh; Ly, Huynh Thi Ngoc

doi:10.5430/rwe.v10n3p382

RWE

2019

DOI: 10.5430/rwe.v10n3p382

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Understanding Financial Inclusion in Vietnam

Tran Hung Son¹,

Nguyễn Thanh Liêm²,

Huynh Thi Ngoc Ly³

Abstract: The objective of this paper is to analyze the factors that affect the financial inclusion in Vietnam using the World Bank's Global Findex dataset. Analytical results show that income affects the use of official accounts and official savings. Education is positively correlated with official accounts and official savings, but is negatively correlated with the use of formal credit. Age influences official savings and the use of formal credit and this relationship is nonlinear. Sex does not impact the use of offic… Show more

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Cited by 3 publications

References 12 publications

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Unveiling financial inclusion dynamics: Fintech's resonance in Association of Southeast Asian Nations (ASEAN)

Ha,

Nguyen,

Nguyen

et al. 2024

Int. J Fin Econ

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This article examines the determinants of financial inclusion in the Association of Southeast Asian Nations (ASEANs), with a particular focus on the role of financial technology (fintech). We constructed an extensive and up‐to‐date Global Financial Inclusion database (2011, 2014, 2017, and 2021) to generate 26,185 observations for seven ASEAN countries over a decade, and conducted a separate case study for Singapore, the region's most financially developed member. The results reveal that financial inclusion and financial technology have experienced robust growth in ASEAN but to varying degrees amongst the member countries. Fintech has a significant impact on financial inclusion over the specified period. The relationship between age and financial inclusion follows an inverted U‐shaped pattern, with the turning point occurring between the ages of 29 and 45. Surprisingly, gender does not appear to be a determining factor. These results align with the aspirations of ASEAN policymakers to promote financial inclusion in line with the sustainable development goals.

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Unveiling financial inclusion dynamics: Fintech's resonance in Association of Southeast Asian Nations (ASEAN)

Ha,

Nguyen,

Nguyen

et al. 2024

Int. J Fin Econ

View full text Add to dashboard Cite

show abstract

Financial Inclusion Measurement in the Least Developed Countries in Asia and Africa

et al. 2021

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The purpose of this paper is to examine the determinants of financial inclusion in the least developed countries in Asia and Africa. We used World Bank data to estimate the probit econometric technique in the studied countries. The results show that young people and women are groups excluded from financial inclusion and that education and income are two of the key pillars for increasing financial inclusion. Furthermore, the results reveal that a higher level of financial inclusion increases the level of official savings in countries, which in turn promotes their development. The findings of this study are beneficial for policymakers in the least developed countries to promote innovative approaches to enhance the involvement of excluded people in formal finance.

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Digital Financial Literacy and Its Impact on Financial Decision-Making of Women: Evidence from India

Mishra,

Agarwal,

Sharahiley

et al. 2024

JRFM

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Despite the increasing accessibility of digital financial instruments globally, a number of women encounter obstacles in properly using these platforms due to insufficient digital financial literacy, which profoundly affects their financial decision-making and economic empowerment. This study aims to promote digital financial literacy and Fintech adoption for women in India by examining the effects of digital financial literacy on financial decision-making while considering the mediating effect of government support and digital financial literacy. Furthermore, in this study, we analyzed the relationship between independent variables such as financial attitude (FAtt), subjective norms (SNs), perceived behavior control (PBC), digital financial literacy (DFL), and financial accessibility (FA) on the dependent variable, i.e., financial decision-making (FDM). We also explored how financial decision-making impacts women’ intention towards investment (INT). By analyzing 385 Indian women respondents using Structural Equation Modeling (SEM), this study revealed that financial attitude (FAtt) leads to higher financial decision-making (FDM), exerting moderate effects. Similarly, subjective norms (SNs), perceived behavioral control (PBC), digital financial literacy (DFL), and financial accessibility (FA) significantly lead to financial decision-making. Overall, the five predictors of financial decision-making explained around 71% of the variance. Financial decision-making exerted a significant and robust effect on women’s intention towards investment. Financial resilience significantly moderated the effects of financial decision-making on women’s intention towards investment. These findings emphasize the necessity of implementing a distinct government strategy and programs to enhance the adoption of Fintech among women living in urban and rural regions across India. This study is aligned with UN Sustainable Development Goals, especially Sustainable Development Goal (SDG) 1: No Poverty, SDG 5: Gender Equality, and SDG 8: Decent Work and Economic Growth.

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Understanding Financial Inclusion in Vietnam

Cited by 3 publications

References 12 publications

Unveiling financial inclusion dynamics: Fintech's resonance in Association of Southeast Asian Nations (ASEAN)

Unveiling financial inclusion dynamics: Fintech's resonance in Association of Southeast Asian Nations (ASEAN)

Financial Inclusion Measurement in the Least Developed Countries in Asia and Africa

Digital Financial Literacy and Its Impact on Financial Decision-Making of Women: Evidence from India

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