From debt to opportunity: How financial education boosts economic development among motorcycle taxi drivers in Peru?

The research addresses a crucial issue for improving the quality of life and economic opportunities of motorcycle taxi drivers; therefore, it was determined to investigate how financial education influences the economic development of motorcycle taxi drivers in Peru, providing an empirical basis to support the implementation of specific policies and programs in this area. The methodology used was applied, with a quantitative approach, through a non-experimental cross-sectional design with a descriptive and explanatory scope. A survey was chosen as the technique and as the instrument for data collection a structured questionnaire was used to collect data from a sample of 132 motorcycle cab drivers active in formal associations; the data were analyzed using a regression model to identify the influence between variables. The results showed an influence coefficient (R) of 0.608 and an R-squared of 0.369, indicating variability in economic development, explained by financial literacy. ANOVA confirmed the validity of the model, with an F-statistic of 76.109 and a significance of 0.000. In addition, 55% of motorcycle cab drivers were found to have a moderate level of financial literacy and 59% of motorcycle taxi drivers perceive their economic development as moderate, highlighting areas for improvement in budget planning and the use of technology. In conclusion, financial education has a significant and positive influence on the economic development of motorcycle taxi drivers in Peru. Despite limitations regarding the influence of external variables not considered in this analysis, future research could focus on longitudinal approaches to validate whether the effects observed persist.