Financial Literacy in Asia: A Scoping Review

31 Pages Posted: 27 Jan 2021

Date Written: December 5, 2020


This chapter is to provide an overview of financial literacy in Asia, describe financial literacy education in Asian countries, and propose recommendations for policy makers. The chapter demonstrates that: 1) Financial literacy is an important factor contributing to consumer financial capability and wellbeing in Asia; 2) Financial literacy national strategies and education programs in Asian countries are beneficial for consumer wellbeing and economic developments; and 3) Public policies promoting financial literacy education can be compatible with the socio-economic development goals of Asian countries.

Keywords: financial literacy, financial capability, financial wellbeing, Asia

JEL Classification: A20; G53

Suggested Citation

Xiao, Jing Jian, Financial Literacy in Asia: A Scoping Review (December 5, 2020). Available at SSRN: or

Jing Jian Xiao (Contact Author)

University of Rhode Island ( email )

Transition Center
Kingston, RI 02881
United States
401-874-2547 (Phone)
401-874-4020 (Fax)


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