Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/172824
Authors: 
Grohmann, Antonia
Year of Publication: 
2017
Series/Report no.: 
DIW Discussion Papers 1702
Abstract: 
This paper analyses financial literacy and financial behavior of middle class people living an urban Asian economy. Other than most papers on financial literacy that focus on people in developed countries, we surveyed people living Bangkok. Using standard financial literacy questions, we find that financial literacy levels are largely comparable to industrialized countries, but understanding of more advanced financial concepts is lower. Similarly, savings accounts are held by most people, but more sophisticated products are a lot less common. We further show, in line with the literature, that higher financial literacy leads to improved financial decision making.
Subjects: 
Financial literacy
Saving
Borrowing
Household finance
JEL: 
D14
G11
D91
Document Type: 
Working Paper

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