The impact of financial literacy on remittance decisions in transnational households: The case of Mongolian migrants in Japan

2022 Fiscal Year Final Research Report

• Project/Area Number: 19K13713
• Research Category: Grant-in-Aid for Early-Career Scientists
• Allocation Type: Multi-year Fund
• Review Section: Basic Section 07040:Economic policy-related
• Research Institution: The University of Tokyo (2021-2022); JICA Ogata Sadako Research Institute for Peace and Development (2019-2020)
• Principal Investigator: MURAKAMI Enerelt 東京大学, 大学院農学生命科学研究科(農学部), 農学特定研究員 (60835867)
• Project Period (FY): 2019-04-01 – 2023-03-31
• Keywords: Financial literacy / Financial inclusion / Migration / Remittances

Outline of Final Research Achievements

This research study aimed to explore the determinants of financial literacy and inclusion and their influence on the financial decision-making of migrants, specifically in relation to remittances. Throughout the research period, online surveys were conducted targeting Mongolian migrants in Japan and their families residing in Mongolia. Additionally, online financial literacy trainings covering various topics such as budgeting, saving, investment, financial risks, loans, insurance, fintech, and remittance processes were provided. By utilizing both the primary data collected from the surveys and publicly available data, the research generated a comprehensive survey report. Furthermore, research papers were developed based on the findings, which are currently being considered for publication in international peer-reviewed journals. The research findings have also been presented at various international and domestic academic conferences.

Free Research Field

Development economics

Academic Significance and Societal Importance of the Research Achievements

本研究により、移民とその家族の金融リテラシーは高いことが判明した。金融リテラシーの主な要因は、所得、日本語能力、教育レベルであること、金融リテラシーは移民の送金決定に影響を与えないことが明らかとなった。また、本研究ではモンゴル人が同じ開発水準の国々よりも金融包摂が高く、女性や教育レベルの高い年配者がより金融的に包摂される可能性が高いことも明らかとなった。