Household financial services, financial literacy, and COVID-19 pandemic

This paper analyzes the relationship between the spread of the COVID-19 infection and the changes in financial services for households in Japan. Respondents who chose to increase demand for non-face-to-face financial services and cashless payments tended to have more financial assets and to be more...

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Bibliographic Details
Published inApplied economics letters Vol. 29; no. 7; pp. 615 - 618
Main Author Fujiki, Hiroshi
Format Journal Article
LanguageEnglish
Published London Routledge 16.04.2022
Taylor & Francis LLC
Subjects
cashless payment
Coronaviruses
COVID-19
Economic analysis
Economic theory
Economics
Financial literacy
Financial services
Households
Literacy
Non-face-to-face financial services
Pandemics
Payments
Japan
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Summary:This paper analyzes the relationship between the spread of the COVID-19 infection and the changes in financial services for households in Japan. Respondents who chose to increase demand for non-face-to-face financial services and cashless payments tended to have more financial assets and to be more financially literate. This result suggests that financial literacy is important in helping households embrace financial services to comply with the demands of social distancing under the spread of COVID-19.
ISSN:1350-4851
1466-4291
DOI:10.1080/13504851.2021.1878092