The Correlation between Financial Literacy and Personal Saving Behavior in Vietnam

Asian Economic and Financial Review

article

Van Tuong Nguyen¹  Minh Duc Doan² 

[1]Senior Lecturer and Head of Monetary Department of Banking Academy

[2]Banking and Finance in Economic and Business University

关键词: Financial literacy;    Financial inclusion;    Financial behavior;    Saving behavior;    Financial education;    Personal saving.;   

DOI  :  10.18488/journal.aefr.2020.106.590.603

学科分类：社会科学、人文和艺术（综合）

来源: Asian Economic and Social Society

【 摘 要 】

This study investigated factors impacting personal saving behavior in Vietnam. By using 692 respondents from a 63-province survey, the binary regression results showed that financial literacy, finance major, married status, financial attitudes, and advanced financial behavior were factors positively and significantly influencing individual saving behavior while gender, student, and basic financial behavior were factors negatively and significantly impacting saving behavior. It highlighted the result that, women had a higher probability of saving than men. The implications for financial education in Vietnam from the policy makers as well as personal perspective are also discussed.

【 授权许可】

CC BY