Financial Literacy: Does It Improve Well-being? A Case Study of Farmers in Khon Kaen, Thailand
Environmental, Social, and Governance Perspectives on Economic Development in Asia
ISBN: 978-1-80117-595-1, eISBN: 978-1-80117-594-4
Publication date: 8 November 2021
Abstract
Financial literacy can affect well-being. This chapter aims to assess financial literacy of farmers in Khon Kaen, Thailand. The chapter investigates the relationship between it and the well-being of farmers. Data were collected from 354 farmers in the northeast of Thailand. The analysis adopts descriptive statistics and inferential statistics to test the Least Significant Difference as well as using multiple regression analysis. The results show that financial attitudes had a positive influence on the well-being of farmers, while financial behavior had a negative influence. Financial literacy influences the well-being of farmers differently, depending on personal characteristics such as education level, gender and monthly income.
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Acknowledgements
Acknowledgments
This chapter is a revised and expanded version of a paper entitled “Well-being and financial literacy of farmers in the northeast of Thailand” presented at the SIBR 2021 Conference on Interdisciplinary Business and Economics Research, January 7th to 8th, 2021, Tokyo, Japan Financial support from the Graduate School, Khon Kaen University, Research Fund for Supporting Lecturer to Admit High Potential Student to Study and Research on His Expert Program Year 2018, is gratefully acknowledged.
Citation
Thongrak, N., Chancharat, S. and Kijkasiwat, P. (2021), "Financial Literacy: Does It Improve Well-being? A Case Study of Farmers in Khon Kaen, Thailand", Barnett, W.A. and Sergi, B.S. (Ed.) Environmental, Social, and Governance Perspectives on Economic Development in Asia (International Symposia in Economic Theory and Econometrics, Vol. 29A), Emerald Publishing Limited, Leeds, pp. 117-129. https://doi.org/10.1108/S1571-03862021000029A022
Publisher
:Emerald Publishing Limited
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