Financial literacy of rural population as a determinant of saving behaviour in Kazakhstan

Gaisina, S., Hochschule Stralsund . Business School; Kaidarova, L., Innovative Eurasian Univ., Pavlodar . Faculty of Economics

Financial literacy of rural population as a determinant of saving behaviour in Kazakhstan

2017

Gaisina, S., Hochschule Stralsund (Germany). Business School | Kaidarova, L., Innovative Eurasian Univ., Pavlodar (Kazakhstan). Faculty of Economics

In rural Kazakhstan, the credit and insurance services are limited and the state support is weak. The main goal of this study is to contribute to the literature on financial literacy in emerging economies, namely, the effect of financial literacy on saving rates of rural population. Being well educated not always means to be financial literate and make efficient decisions regarding one’s own finance. People with a lower formal education level but with better experience in consuming financial products could be better prepared for making financial decisions including those related to savings. In this paper other socio-economic determinants of saving rates were taken into account, such as an income level, family size and an employment status. This research was carried out in Pavlodar region of Kazakhstan, and the data collection took place in spring 2014. In total, 405 households were surveyed. Results of the analysis show that if a respondent gives at least one correct answer, it positively affects the saving rates as well as one can observe that the higher the financial literacy level, the higher are the saving rates. Availability of state supported financial education programs for rural people will significantly contribute to the financial literacy improvement.

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AGROVOC Keywords

ahorros alemania allemagne credit credito cuestionarios data analysis data collection encuestas finance finanza germany hogares households kazajstan kazakhstan latvia letonia lettonie literacy population rurale questionnaire questionnaires recherche research rural population savings surveys

Bibliographic information

Published in

Rural Sustainability Research (Electronic resource) (Latvia) | Scientific journal of Latvia University of Agriculture

Volume 38 Issue 333 ISSN 2256-0939

Pagination

p. 32-42

Other Subjects

Poblacion rural; Analisis de datos; Menage; Epargne; Analyse de donnees; Coleccion de datos; Collecte de donnees; Investigacion; Alfabetizacion; Alphabetisation; Enquete

Language

English

Note

Summary (En)

2 tables, 1 fig., 45 ref.

Continues edition: Proceedings of the Latvia University of Agriculture, ISSN 2255-8535 (Online), ISSN 1407-4427 (Print)

Type

Web Site; As

In AGRIS since: 2018-07-15

Format: AGRIS AP

Data Provider

This bibliographic record has been provided by Fundamental Library of Latvia University of Life Sciences and Technologies