2023 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, 教授 (90614371)
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| Project Period (FY) |
2022-04-01 – 2026-03-31
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| Keywords | Financial literacy, / Microfinance |
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| Outline of Annual Research Achievements |
This research seeks to improve our understanding of financial literacy in Cambodia and beyond. Gaining a better understanding of financial literacy among borrowers is important for policymakers.
Our analysis in FY2022 revealed an association between higher social capital (i.e., the social network among people in a community) and higher financial literacy. Building on this result, we examined the landscape and the determinants of social capital in a more detailed manner during FY2023. Our analyses show varying levels of social capital among the surveyed households. A significant share of households reported not visiting neighbors at all over the past week. Similarly, participation in community groups is low. Attendance at community events is modest. Moreover, a substantial percentage of households did not share meals with people outside their household. These trends reflect a moderate to low level of both formal and informal social capital within communities. Regarding the determinants of social capital, our preliminary results highlight the positive impact of trust in people, safety, and leaders on social capital. Additionally, the result indicates higher social capital among households in rural areas.
To share our research outcomes, we presented our research at the 18th International Convention of the East Asian Economic Association (EAEA) on October 21, 2023, and at the Annual Microfinance Conference in Cambodia on November 24, 2023.
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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 FY2023, our research activities focused on analyzing the landscape and factors influencing social capital among households. We successfully met our research objectives as planned. The "Summary of Research Achievements" section details these accomplishments.
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| Strategy for Future Research Activity |
In FY2024, we will explore the influence of social capital on financial literacy and financial inclusion. Our study will focus on the relationships between social capital, financial literacy, and financial inclusion within Cambodia's financial sector, utilizing data and insights from past surveys and interviews. We will conduct additional fieldwork if necessary.
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| Causes of Carryover |
The collaboration with the JICA Ogata Research Institute and the Cambodia Microfinance Association (CMA) helped to reduce the costs associated with conducting the household survey and collecting data for our analyses in FY2023. The remaining funds from FY2023 will be allocated to attending relevant academic conferences and workshops, visiting field sites, and conducting additional data collection activities if needed.
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