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Measuring Financial Capability of the Street Vendors

Author

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  • Muduli, Silu
  • Ramana, D.V.

Abstract

Financial capability of an individual is the ability to use and manage financial products for current and future financial needs with adequate financial knowledge. This paper examines financial capability on four dimensionsfinancial management to meet current needs, future financial planning, financial products management, and financial knowledge using a sample of street vendors in Bhubaneswar, India. A financial capability index for each individual in the sample has been calculated in a manner that satisfies monotonicity, anonymity, normalisation, uniformity, shortfall sensitivity and hiatus sensitivity to level axioms. We find that education, age, business experience, and daily turnover significantly affect the financial capability of an individual. Moreover, street vendors in regions with higher number of bank branches are found to have significantly higher financial capability.

Suggested Citation

  • Muduli, Silu & Ramana, D.V., 2018. "Measuring Financial Capability of the Street Vendors," EconStor Preprints 187423, ZBW - Leibniz Information Centre for Economics, revised 2018.
    • Handle: RePEc:zbw:esprep:187423
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    Cited by:

    1. T. K. Murugesan & Edwin Ramirez Asis & Jaheer Mukthar K.P. & Juan Villanueva Calderón & Felix Julca Guerrero & Jorge Castillo Picon & Guillermo Pelaez Diaz, 2022. "Developing and Validating Constructs: A Pragmatic Measurement of Financial Inclusion as a Tool for Sustainable Growth," Sustainability, MDPI, vol. 14(20), pages 1-16, October.

    More about this item

    Keywords

    Financial capability; financial literacy; financial inclusion;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General

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