Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/269959 
Year of Publication: 
2020
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 8 [Issue:] 1 [Article No.:] 1806479 [Year:] 2020 [Pages:] 1-17
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
Study examines the role of financial literacy and financial self-efficacy of individuals in explaining their behavior to have financial accounts. Study has used the questionnaire based survey and collected the data responses from 564 adults belonging to Sahiwal division. The binary logistic regression model is utilized to estimate the probability of having financial accounts in relation to individual's financial literacy and financial self-efficacy level. Estimated results show that individual's financially literacy level is positively related with individual's account ownership model among the selected group. While individual's financial self-efficacy level does not explain any positive significant impact on individual's account ownership model. Other socio-demographic variables like gender, marital status, education, occupation, and income level are also found to have influential impact on the individuals' account ownership behavior in Pakistan. Study recommends that financial literacy is pertinent to have equitable financial inclusion in the economy.
Subjects: 
financial inclusion
financial literacy
financial self-efficacy
Pakistan
JEL: 
G20
G40
G41
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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