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Financial Literacy: Thai Middle Class Women Do Not Lag behind

Discussion Papers 1615, 49 S.

Antonia Grohmann, Olaf Hübler, Roy Kouwenberg, Lukas Menkhoff


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Published in: Journal of Behavioral and Experimental Finance 31 (2021) 100537


This research studies the stylized fact of a “gender gap” in that women tend to have lower financial literacy than men. Our data which samples middle-class people from Bangkok does not show a gender gap. This result is not explained by men’s low financial literacy, nor by women’s high income and good education. Rather, it seems influenced by country characteristics on general gender equality and finance-related equality, such as little gender gaps regarding pupils’ mathematics abilities or secondary school enrollment, and women’s strong role in financial affairs. This may indicate ways to reduce the gender gap in financial literacy elsewhere.

Lukas Menkhoff

Senior Research Associate in the Macroeconomics Department

JEL-Classification: D14;J16;D91
Keywords: financial literacy, financial behavior, gender gap, individual characteristics, societal norms, Thailand
Frei zugängliche Version: (econstor)