Unlocking financial access in a developing country amidst COVID-19: the impacts of financial literacy and fintech

We examine the impacts of financial technology and financial literacy on the development of financial inclusion among the younger generation using data from a survey with 1288 students in Vietnam in the city and rural areas. We employ logistic regression and two-stage instrumental variable regression for our analysis, with location and financial shock caused by COVID-19 serving as the instruments. Vietnam is a fintech hub in Asia with the world-leading adaption of cryptocurrency and a significantly high rate of e-wallet use. The results indicate although there is a gap in access to financial services between urban and rural areas, the access rate is considerably high. Fintech and financial literacy play a significant role in facilitating this high level of financial inclusion development. Women have better access to financial services, showing the effectiveness of women's empowerment programs. Little evidence shows the negative impact of the pandemic on financial inclusion.

Authors

Institutions

Publication Details

Journal
Journal of the Asia Pacific Economy
Published
2024-08-09
DOI
https://doi.org/10.1080/13547860.2024.2386825
Citations
10
Primary Topic
Microfinance and Financial Inclusion
Type
article
Field-Weighted Citation Impact
11.29

Funders

Controls
|||
ALL TIME
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
article

Unlocking financial access in a developing country amidst COVID-19: the impacts of financial literacy and fintech

Ha Dao, Kim Nguyen
10 citations
Journal of the Asia Pacific Economy
Microfinance and Financial Inclusion
11.29
article

Unlocking financial access in a developing country amidst COVID-19: the impacts of financial literacy and fintech

Ha Dao, Kim Nguyen
article en
10 citations

Abstract

We examine the impacts of financial technology and financial literacy on the development of financial inclusion among the younger generation using data from a survey with 1288 students in Vietnam in the city and rural areas. We employ logistic regression and two-stage instrumental variable regression for our analysis, with location and financial shock caused by COVID-19 serving as the instruments. Vietnam is a fintech hub in Asia with the world-leading adaption of cryptocurrency and a significantly high rate of e-wallet use. The results indicate although there is a gap in access to financial services between urban and rural areas, the access rate is considerably high. Fintech and financial literacy play a significant role in facilitating this high level of financial inclusion development. Women have better access to financial services, showing the effectiveness of women's empowerment programs. Little evidence shows the negative impact of the pandemic on financial inclusion.

Journal of the Asia Pacific EconomyVol. 30(4)
Ho Chi Minh University of Banking (VN), University of Lincoln (GB)
National Foundation for Science and Technology Development
Quality Education
Openalex Percentile: Top 2%
Microfinance and Financial Inclusion
11.29
AI Navigator

Ask Laika to Summarize, Analyze, and Connect papers live on the map.

Summarize Papers & Methodologies

Extract key findings, datasets, and comparative methods across publications.

Benchmark Rankings & Visual Analytics

Rank top research institutions, authors, funders, topics, and journals by Field-Weighted Citation Impact (FWCI) and paper volume with instant charts.

Connect Distant Disciplines

Bridge topological clusters on the map to find hidden collaborative intersections.

Unlocking financial access in a developing country amidst COVID-19: the impacts of financial literacy and fintech — Ha Dao, Kim Nguyen · Journal of the Asia Pacific Economy (2024) | TGRS Research Map | TGRS