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Volume 10 Issue 1 2024

A Descriptive Analysis of Financial Literacy Research: An ASEAN Country
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Siti Syamira Mohd Ramli , Wan Nurashikin Mahmood, Ina Murni Hashim, Nurhani Izzati Mohd Hanifah

Financial literacy plays a pivotal role and has become an essential skill that is required in today's world. It entails the knowledge and understanding of financial components and concepts such as taxation, borrowing, investing, budgeting, and personal financial management. Financial literacy is regarded as one of the important drivers of financial wellbeing and economic growth. Poor financial decisions resulting from a lack of financial literacy may have a detrimental effect on one's financial health. The purpose of this study was to characterize the field of financial literacy, focusing on emerging economies and ASEAN countries in terms of years, journals, authors, and nations. To perform a comprehensive exploration of scholarly literature and find publications relating to financial literacy in emerging and ASEAN countries, a targeted literature search was carried out using the Web of Science database. Descriptive analysis was used to analyze the journal articles published from 2002 until the end of 2022. The dataset was managed and analyzed using Citespace, a descriptive analysis tool, combined with Microsoft Excel 2019. The analysis was performed on the number of papers published, the number of published papers by country, the names of the most productive authors, and the names of journals where the papers were published. Overall, there were 252 published articles related to financial literacy in ASEAN countries between 2002 and 2022, with contributions from researchers in 15 different countries. Malaysia stands out as the top contributor with 92 published articles. The study reveals that the most influential author is Mohamad Fazli Sabri from Universiti Putra Malaysia, and the top journal is the Journal of Asian Finance, Economics and Business. Overall, the study reveals an increasing trend in the number of publications in the field of financial literacy studies.

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