Financial resilience: a scoping review, conceptual synthesis and theoretical framework

Purpose Financial resilience is becoming increasingly important in socioeconomic environments, yet research on the topic remains in its early stages and is subject to debate. This study aims to provide an overview of the existing literature on financial resilience and develop a heuristic map. Design/methodology/approach A four-step scoping review was conducted to extract data on research features, measures, determinants, outcomes and definitions from 44 empirical studies on financial resilience across five academic databases. Findings Most studies have examined financial resilience over the past five years, utilizing cross-sectional secondary data from specific countries. The included studies have used various resources to assess financial resilience and investigate its determinants and outcomes across socioeconomic, psychological and situational domains. Financial resilience is newly defined as a financial coping capability that encompasses both static performances and dynamic processes within human agency and environmental structure, enabling people to respond to and recover from adverse situations. This coping capability definition provides a comprehensive and positive perspective, addressing limitations in previous resource-based, behavior-based and vulnerability-oriented definitions. The long-term process of financial resilience consists of three dynamic stages leading to positive adaptation. An integrative framework is proposed to outline several propositions and pathways relevant to proximal dynamics, distal mechanisms and evidence-based interventions for financial resilience. Four priority areas are suggested to enhance theories, topics, contexts and methods in future financial resilience research. Originality/value This study provides an original synthesis of financial resilience and theoretical insights for researchers across various disciplines. Financial service providers, practitioners and consumers may benefit from this study for promoting sustainable wealth management and overall well-being.

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Publication Details

Journal
International Journal of Bank Marketing
Published
2025-04-08
DOI
https://doi.org/10.1108/ijbm-12-2024-0735
Citations
9
Primary Topic
Employment and Welfare Studies
Type
article
Field-Weighted Citation Impact
25.34
Controls
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article

Financial resilience: a scoping review, conceptual synthesis and theoretical framework

Zewei Liu, Ji‐Kang Chen, Jing Jian Xiao
9 citations
International Journal of Bank Marketing
Employment and Welfare Studies
25.34
article

Financial resilience: a scoping review, conceptual synthesis and theoretical framework

Zewei Liu, Ji‐Kang Chen, Jing Jian Xiao
article en
9 citations

Abstract

Purpose Financial resilience is becoming increasingly important in socioeconomic environments, yet research on the topic remains in its early stages and is subject to debate. This study aims to provide an overview of the existing literature on financial resilience and develop a heuristic map. Design/methodology/approach A four-step scoping review was conducted to extract data on research features, measures, determinants, outcomes and definitions from 44 empirical studies on financial resilience across five academic databases. Findings Most studies have examined financial resilience over the past five years, utilizing cross-sectional secondary data from specific countries. The included studies have used various resources to assess financial resilience and investigate its determinants and outcomes across socioeconomic, psychological and situational domains. Financial resilience is newly defined as a financial coping capability that encompasses both static performances and dynamic processes within human agency and environmental structure, enabling people to respond to and recover from adverse situations. This coping capability definition provides a comprehensive and positive perspective, addressing limitations in previous resource-based, behavior-based and vulnerability-oriented definitions. The long-term process of financial resilience consists of three dynamic stages leading to positive adaptation. An integrative framework is proposed to outline several propositions and pathways relevant to proximal dynamics, distal mechanisms and evidence-based interventions for financial resilience. Four priority areas are suggested to enhance theories, topics, contexts and methods in future financial resilience research. Originality/value This study provides an original synthesis of financial resilience and theoretical insights for researchers across various disciplines. Financial service providers, practitioners and consumers may benefit from this study for promoting sustainable wealth management and overall well-being.

International Journal of Bank MarketingVol. 43(7)
University of Rhode Island (US), Chinese University of Hong Kong (HK)
Openalex Percentile: Top 0%
Employment and Welfare Studies
25.34
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