IDEAS home Printed from https://ideas.repec.org/h/elg/eechap/21534_18.html
   My bibliography  Save this book chapter

Consumer financial behavior and financial capability

In: A Research Agenda for Consumer Financial Behavior

Author

Listed:
  • Muhammad S. Tahir
  • Daniel W. Richards

Abstract

Financial capability can be viewed as an improved version of financial literacy. Where financial literacy focuses on the financial knowledge of consumers, financial capability extends this construct to consider both consumers’ knowledge and behavior that can improve consumer financial wellbeing. However, the literature does not show a consistent definition and measurement scale of financial capability, which creates ambiguity about the concept. For the purpose of this chapter, we shortlist 95 articles published between 2007 to January 2022 in the Web of Science. Prior research has identified who is more (less) likely to be financially capable and what financial or life outcomes relate to better financial capability. In this systematic literature review, we propose specific research questions and recommend that future research on financial capability needs to consistently define this concept, show how interventions to improve financial capability lead to better outcomes, and make research on consumer financial capability global.

Suggested Citation

  • Muhammad S. Tahir & Daniel W. Richards, 2023. "Consumer financial behavior and financial capability," Chapters, in: Jing J. Xiao & Satish Kumar (ed.), A Research Agenda for Consumer Financial Behavior, chapter 18, pages 245-258, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21534_18
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/view/edcoll/9781803922652/9781803922652.00027.xml
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:eechap:21534_18. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Darrel McCalla (email available below). General contact details of provider: http://www.e-elgar.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.