Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/238511 
Year of Publication: 
2020
Series/Report no.: 
ADBI Working Paper Series No. 1154
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
Financial literacy is gaining increasing importance as a policy objective in many countries. A growing literature has examined the role of financial literacy in an individual's income, saving behavior, and the use of various financial products. However, so far, we are not aware of any studies of the relationship between financial literacy and the awareness and adoption of financial technology (fintech) products, i.e., financial products provided via internet-based and mobile-based platforms especially in developing countries. This paper examines this relationship in a developing country, Viet Nam. To do so, we conducted a survey on financial literacy and fintech awareness and adoption, using financial literacy questions to calculate a financial literacy score. We find that a higher level of financial literacy has strong and positive effects on an individual's awareness and use of fintech products.
Subjects: 
financial literacy
financial behavior
fintech
awareness of fintech
household saving
Viet Nam
JEL: 
D14
G11
J26
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

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