2022 Fiscal Year Research-status Report
Research on the Determinants of Financial Literacy and Its Effects on Financial Inclusion: The Cambodian Case and International Comparison Analysis
| Project/Area Number |
22K01474
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| Research Institution | Saitama University |
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Principal Investigator |
サムレト ソワンルン 埼玉大学, 人文社会科学研究科, 准教授 (90614371)
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| Project Period (FY) |
2022-04-01 – 2026-03-31
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| Keywords | Financial literacy / Social capital / Microfinance |
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| Outline of Annual Research Achievements |
The aim of this research is to enhance our understanding of financial literacy in Cambodia and other countries. A comprehensive understanding of financial literacy amongst financial borrowers is crucial for informing relevant policy decisions.
During FY2022, we explored the factors influencing financial literacy within Cambodia’s financial sector, with a particular focus on household characteristics and the role of financial institutions. We considered various household attributes such as education, income, age, occupation, their social capital (social networks within communities), and their experiences of financial transactions with formal financial institutions, among others. Utilizing data and information from a household survey in Cambodia, our study confirmed a positive correlation between years of general education and financial literacy, a relationship between lower-income households and lower financial literacy, and an association between higher social capital and increased financial literacy. Furthermore, our analysis revealed that households with more frequent experiences of financial transactions with formal financial institutions possess higher levels of financial literacy.
To share our findings with other researchers, we presented our research at an online seminar hosted by the JICA Ogata Research Institute on October 4, 2022, and at the Annual Microfinance Conference in Cambodia on October 28, 2022. The latter presentation was conducted in-person.
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| Current Status of Research Progress |
Current Status of Research Progress
2: Research has progressed on the whole more than it was originally planned.
Reason
In FY2022, our research activities involved conducting an in-depth analysis of factors influencing financial literacy within the financial sector of Cambodia. We focused on household characteristics and the role played by financial institutions. While the persistent effects of the COVID-19 pandemic posed numerous challenges to our field trips and research activities, we were able to achieve our research goals as planned. These accomplishments are outlined in the "Summary of Research Achievements" section.
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| Strategy for Future Research Activity |
In FY2023, we intend to conduct a study of social capital among financial borrowers by analyzing the factors influencing it. The data and information for this analysis will be sourced from our previous research activities, as well as from the National Institute of Statistics (NIS) of Cambodia and other relevant databases. If necessary, we may conduct additional field surveys and interviews with households and other relevant parties. Furthermore, to disseminate our research findings, we plan to participate in academic workshops and conferences.
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| Causes of Carryover |
The costs associated with conducting the household survey and collecting data for analysis in FY2022 could be partially reduced through collaboration with the JICA Ogata Research Institute. However, despite improvements in the COVID-19 pandemic situation during FY2022, international travel restrictions were not completely lifted, which posed challenges to our research trips. These limitations hindered our ability to attend relevant academic conferences and visit field sites for interviews and discussions with other researchers and experts.
In FY2023, most of these restrictions have been lifted. The amount incurred from FY2022 will be used for attending relevant academic conferences, visiting field sites, and conducting additional data collection activities.
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Research Products
(2 results)
