Financial literacy and financial behaviour: a bibliometric analysis

What is it about?

Against the backdrop of increasing importance associated with financial wellbeing of households and dynamic financial landscape, the policy makers and practitioners are interested in understanding the motivations behind household financial decisions. The key drivers of financial wellbeing are responsible financial behaviour and financial literacy. Numerous exploratory, conceptual, and empirical enquiries on financial behaviour and literacy have been conducted in the areas of Economics, Finance, Business and Management. However, no attempt was made to present a comprehensive science mapping of the area so far. A major contribution of this study is that it consolidates fragmented literature in the area, highlights significant sources, authors and documents by exploring the relation between financial literacy and financial behaviour. A closer look at data shows that the themes of financial literacy and financial behaviour have evolved over a period of time. In the initial stages the researchers focused on the demographic and socio-economic determinants of it. Gradually the field has embraced topics like behavioural and psychological constructs influencing financial behaviour. Along with conceptual structure, it reveals the intellectual and social structure of the domain. The analysis is performed on a sample of 1138 documents based on a scientific search strategy run on the Web of Science database for the period 1985 to 2020. It uses Biblioshiny, which is a web-based application included in Bibliometrix package developed in R-language.

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