Financial Self-Efficacy Research: A Systematic Bibliometric Mapping (1994-2023)

Financial self-efficacy portrays the confidence of an individual in prudent financial decision-making. The study aims to conduct a comprehensive bibliometric and systematic mapping analysis across three transformative decades from 1994 to 2023, revealing the evolving phases of financial self-efficacy. The study has systematically filtered data from the Scopus database using PRISMA guidelines. The study retrieved 201 articles after data extraction, refining, and filtration processes. The study aims to explore the research output of scholarly shifts, geographical contributions and thematic development of articles on financial self-efficacy by identifying the prominent research gaps in the studies. It also reveals an exponential growth in financial efficacy since 2018. The growth has persisted notably in countries like the United States, Malaysia and India. The findings provide a comprehensive overview of financial self-efficacy research, informing future research directions and policy development. The study contributors have transferred innovative insights into the core research areas of financial behaviour, literacy, and psychological mechanisms. Despite this progress, the study has found knowledge gaps in Fintech and long-term financial education programs in the emerging era. This review study reveals a complex interplay among the unexplored avenues that demand scholarly attention. The study identifies these research frontiers and provides a strategic roadmap for academicians, policymakers, and practitioners committed to enhancing financial well-being.