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Financial Literacy: Thai Middle-Class Women Do Not Lag Behind

Aufsätze referiert extern - Web of Science

Antonia Grohmann, Olaf Hübler, Roy Kouwenberg, Lukas Menkhoff

In: Journal of Behavioral and Experimental Finance 31 (2021), 100537, 10 S.


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 for those with at least minimum wage earnings. This result is not explained by men’s low financial literacy, nor by women’s high income and good education. Rather, country characteristics may influence finance-specific gender equality, such as Thailand’s small gender gaps in pupils’ mathematics abilities and 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

Head of Department in the International Economics Department

JEL-Classification: D14;J16;D91
Keywords: Financial literacy, Gender gap, Thailand, Individual characteristics, Societal norms, Financial behavior