Refers to the situation in which a person or family finds themselves when they do not have sufficient resources to deal with unforeseen circumstances or unexpected expenses.
Published in Chapter:
The Role of Financial Literacy in Financial Behaviour in Angola
Cláudio Félix Canguende-Valentim (Instituto Superior Politécnico Jean Piaget de Benguela, Angola),
Henrique da Silva Pascoal (Instituto Superior Politécnico de Benguela, Angola),
Luís Malheiro Matateu (Faculdade de Economia da Universidade José Eduardo Dos Santos, Angola),
Lino Cassivela Joaquim (ISCTE, Instituto Universitário de Lisboa, Portugal),
Raphael Amaro (University of Aveiro, Portugal & Universidade Federal de Santa Maria, Brazil),
Brian Valentim (University Katyavala Bwila, Angola),
Eduardo Sapalalo (University Katyavala Bwila, Angola), and António Mamba Cambungo (University Katyavala Bwila, Angola)
Copyright: © 2024
|Pages: 18
DOI: 10.4018/979-8-3693-0522-5.ch012
Abstract
Angola's financial system is underdeveloped, with low bank penetration and a lack of access to essential financial services. Through financial literacy and financial inclusion, people can make informed decisions, better manage their money, access financial services, and improve their financial conditions, with the potential to reduce poverty and boost economic growth. The aim of this chapter is therefore to examine the effect of financial literacy and financial inclusion on financial behavior in Angola. The data was collected through a questionnaire administered to 282 Angolan consumers and was analyzed using structural equation modelling. The results indicated that financial literacy has a positive influence on financial behavior and financial inclusion. On the other hand, this study also revealed that financial inclusion does not influence financial behavior. The research contributes to the literature by supporting previous studies on the effect of financial literacy on financial behavior.