Journals / Anadolu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi / 2025 / Volume: 26 Issue: 4

GLOBAL DYNAMICS IN FINANCIAL LITERACY RESEARCH: INTERNATIONAL TRENDS AND BIBLIOMETRIC INSIGHT

Harun Kaya(BURDUR MEHMET AKİF ERSOY UNIVERSITY)0000-0003-4795-3872
Pages
—
Publication Date
2025-12-29
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

In doing so, the study contributes to strengthening the theoretical foundations of financial literacy research and offers an original framework that reinforces the interaction between academic inquiry and policy-making.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This study presents a comprehensive bibliometric analysis of academic production in the areas of financial knowledge, financial decision-making, and financial literacy.
📊
Key Findings & Data:Drawing on publications indexed in the Web of Science database between 2001 and 2025, it examines the intellectual structure of the field, its main research themes, and its evolutionary trajectories.
💡
Conclusion & Impact:In doing so, the study contributes to strengthening the theoretical foundations of financial literacy research and offers an original framework that reinforces the interaction between academic inquiry and policy-making.
🔬Design:Research Article
📍Scope:2001 Verileri
⚙️Variables:Financial Knowledge · Financial Decision-making · Financial Literacy

Abstract

This study presents a comprehensive bibliometric analysis of academic production in the areas of financial knowledge, financial decision-making, and financial literacy. Drawing on publications indexed in the Web of Science database between 2001 and 2025, it examines the intellectual structure of the field, its main research themes, and its evolutionary trajectories. The analysis identifies influential authors, journals, countries, and institutions, while also mapping international collaborations and highlighting emerging research approaches. By systematically assessing the existing knowledge base, the study not only clarifies the current state of the literature but also reveals gaps that can inform future scholarly agendas. Furthermore, it provides bibliometric evidence that can assist policymakers in designing more effective strategies to enhance individuals’ financial capacities. In doing so, the study contributes to strengthening the theoretical foundations of financial literacy research and offers an original framework that reinforces the interaction between academic inquiry and policy-making.

🔖

Cite This Article

Kaya, H., Kök, P. D. (2025). GLOBAL DYNAMICS IN FINANCIAL LITERACY RESEARCH: INTERNATIONAL TRENDS AND BIBLIOMETRIC INSIGHT. Anadolu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Volume: 26 Issue: 4. https://doi.org/10.53443/anadoluibfd.1711699

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (61)

  1. Abad-Segura, E., & González-Zamar, M. D. (2019). Effects of financial education and financial literacy on creative entrepreneurship: A worldwide research. Education Sciences, 9(3), 238. https://doi.org/10.3390/educsci9030238
  2. Aria, M., & Cuccurullo, C. (2017). bibliometrix: An R-tool for Comprehensive Science Mapping Analysis. Journal of Informetrics, 11(4), 959-975. https://doi.org/10.1016/j.joi.2017.08.007
  3. Atkinson, A., & Messy, F. A. (2012). Measuring financial literacy: Results of the OECD/International Network on Financial Education (INFE) pilot study. https://doi.org/10.1787/5k9csfs90fr4-en.
  4. Brüggen, E., Hogreve, J., Holmlund, M., Kabadayi, S. & Löfgren, M. (2017). Financial well-being: A conceptualization and research agenda. Journal of Business Research, 79, 228-237. https://doi.org/10.1016/j.jbusres.2017.03.013
  5. Callon, M., Courtial, J., & Laville, F. (1991). Co-word analysis as a tool for describing the network of interactions between basic and technological research: The case of polymer chemistry. Scientometrics, 22(1), 155-205. https://doi.org/10.1007/bf02019280
  6. Chen, H., & Volpe, R. P. (1998). An analysis of personal financial literacy among college students. Financial Services Review, 7(2), 107-128. https://doi.org/10.1016/S1057-0810(99)80006-7
  7. Cobo, M., López‐Herrera, A., Herrera‐Viedma, E., & Herrera, F. (2011). An approach for detecting, quantifying, and visualizing the evolution of a research field: A practical application to the fuzzy sets theory field. Journal of Informetrics, 5(1), 146-166. https://doi.org/10.1016/j.joi.2010.10.002
  8. Cude, B. J. (2021). Defining financial literacy. In G. Nicolini & B. J. Cude (Ed.), The Routledge handbook of financial literacy (5-17). Routledge. https://doi.org/10.4324/9781003025221
  9. Cupák, A., Fessler, P., Silgoner, M. A., & Ulbrich, E. (2021). Exploring differences in financial literacy across countries: The role of individual characteristics and institutions. Social Indicators Research, 158(2), 409-438. https://doi.org/10.1007/s11205-021-02713-8
  10. Devender, K., Kafila, Goli, G., & Shravan, M. (2025). Bibliometric trends in SMEs financial literacy research from 2021 to 2024. Future Business Journal, 11(1), 69. https://doi.org/10.1186/s43093-025-00495-w
  11. Dhingra, B., Yadav, M., Saini, M., & Mittal, R. (2024). A bibliometric visualization of behavioral biases in investment decision-making. Qualitative Research in Financial Markets, 16(3), 503-526. https://doi.org/10.1108/QRFM-05-2022-0081
  12. Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: An overview and guidelines. Journal of Business Research, 133, 285-296. https://doi.org/10.1016/j.jbusres.2021.04.070
  13. Dote-Pardo, J. S., Cordero-Díaz, M. C., Espinosa Jaramillo, M. T., & Parra-Domínguez, J. (2025). Leveraging artificial intelligence for enhanced decision-making in finance: Trends and future directions. Journal of Accounting Literature. https://doi.org/10.1108/JAL-02-2025-0100
  14. European Union, & OECD. (2022). Financial competence framework for adults in the European Union. Publications Office of the European Union. https://finance.ec.europa.eu/system/files/2022-01/220111-financial-competence-framework-adults_en.pdf
  15. Fernandes, D., Lynch Jr, J. G., & Netemeyer, R. G. (2014). Financial literacy, financial education, and downstream financial behaviors. Management Science, 60(8), 1861-1883. https://doi.org/10.1287/mnsc.2013.1849
  16. Gálvez-Sánchez, F. J., Lara-Rubio, J., Verdú-Jóver, A. J., & Meseguer-Sánchez, V. (2021). Research advances on financial inclusion: A bibliometric analysis. Sustainability, 13(6), 3156. https://doi.org/10.3390/su13063156
  17. Garfield, E. (1972). Citation analysis as a tool in journal evaluation: Journals can be ranked by frequency and impact of citations for science policy studies. Science, 178(4060), 471-479. https://doi.org/10.1126/science.178.4060.471
  18. Goyal, K., & Kumar, S. (2021). Financial literacy: A systematic review and bibliometric analysis. International Journal of Consumer Studies, 45(1), 80-105. https://doi.org/10.1111/ijcs.12605
  19. Huston, S. J. (2010). Measuring financial literacy. Journal of Consumer Affairs, 44(2), 296-316. https://doi.org/10.1111/j.1745-6606.2010.01170.x International Monetary Fund. (2025). World economic outlook: A critical juncture amid heightened uncertainty (April 2025). https://www.imf.org/en/Publications/WEO/Issues/2025/04/22/world-economic-outlook-april-2025
  20. Jappelli, T., & Padula, M. (2013). Investment in financial literacy and saving decisions. Journal of Banking & Amp; Finance, 37(8), 2779-2792. https://doi.org/10.1016/j.jbankfin.2013.03.019
  21. Khanra, S., Dhir, A., & Mäntymäki, M. (2020). Big data analytics and enterprises: A bibliometric synthesis of the literature. Enterprise Information Systems, 14(6), 737-768. https://doi.org/10.1080/17517575.2020.1734241
  22. Klapper, L., Lusardi, A., & Panos, G. A. (2013). Financial literacy and its consequences: Evidence from Russia during the financial crisis. Journal of Banking & Finance, 37(10), 3904-3923. https://doi.org/10.1016/j.jbankfin.2013.07.014
  23. Klapper, L., Singer, D., Starita, L., & Norris, A. (2025). The Global Findex Database 2025: Connectivity and financial inclusion in the digital economy. Washington, DC: World Bank. https://doi.org/10.1596/978-1-4648-2204-9
  24. Kristanto, R. (2021). The impact of bank behavior, financial literacy on investment decisions, mediation of financial inclusion and debt behavior. Study on working capital and investment debtors at regional development bank Yogyakarta, Indonesia. Technium Social Sciences Journal, 23(2668-7), 626-635. http://eprints.upnyk.ac.id/id/eprint/26663
  25. Li, X., Wei, Y., & Wang, S. (2025). Household finance research: A systematic bibliometric analysis of evolution, trends, and emerging research directions. Review of Economics of the Household, 1-29. https://doi.org/10.1007/s11150-025-09774-5
  26. López-Medina, T., Mendoza-Ávila, I., Contreras-Barraza, N., Salazar-Sepúlveda, G., & Vega-Muñoz, A. (2021). Bibliometric mapping of research trends on financial behavior for sustainability. Sustainability, 14(1), 117. https://doi.org/10.3390/su14010117
  27. Lotka, A. J. (1926). The frequency distribution of scientific productivity. Journal of the Washington Academy of Sciences, 16(12), 317-323. https://www.jstor.org/stable/24529203
  28. Lusardi, A., & Mitchell, O. S. (2007). Baby boomer retirement security: The roles of planning, financial literacy, and housing wealth. Journal of Monetary Economics, 54(1), 205-224. https://doi.org/10.1016/j.jmoneco.2006.12.001
  29. Lusardi, A., & Mitchell, O. S. (2008). Planning and financial literacy: How do women fare?. American Economic Review, 98(2), 413-417. https://doi.org/10.1257/aer.98.2.413
  30. Lusardi, A., & Mitchell, O. S. (2011). Financial literacy around the world: An overview. Journal of Pension Economics & Finance, 10(4), 497-508. https://doi.org/10.1017/S1474747211000448
  31. Lusardi, A., & Mitchell, O. S. (2014). The economic importance of financial literacy: Theory and evidence. Journal of Economic Literature, 52(1), 5-44. https://doi.org/10.1257/jel.52.1.5
  32. Lusardi, A., & Scheresberg, C. (2013). Financial literacy and high-cost borrowing in the United States. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.2585243
  33. Lusardi, A., & Tufano, P. (2015). Debt literacy, financial experiences, and overindebtedness. Journal of Pension Economics & Finance, 14(4), 332-368. https://doi.org/10.1017/S1474747215000232
  34. Lusardi, A., Michaud, P., & Mitchell, O. S. (2017). Optimal financial knowledge and wealth inequality. Journal of Political Economy, 125(2), 431-477. https://doi.org/10.1086/690950
  35. Lusardi, A., Mitchell, O. S., & Curto, V. (2010). Financial literacy among the young. Journal of Consumer Affairs, 44(2), 358-380. https://doi.org/10.1111/j.1745-6606.2010.01173.x
  36. Matsebula, V., & Sheefeni, J. (2022). Financial inclusion and macroeconomic stability in South Africa. International Journal of Economics and Financial Issues, 12(4), 56-64. https://doi.org/10.32479/ijefi.13053
  37. Mingers, J., & Leydesdorff, L. (2015). A review of theory and practice in scientometrics. European Journal of Operational Research, 246(1), 1-19. https://doi.org/10.1016/j.ejor.2015.04.002
  38. Molina-García, A., Diéguez-Soto, J., Galache-Laza, M. T., & Campos-Valenzuela, M. (2023). Financial literacy in SMEs: A bibliometric analysis and a systematic literature review of an emerging research field. Review of Managerial Science, 17(3), 787-826. https://doi.org/10.1007/s11846-022-00556-2
  39. Murta, F. S., & Gama, P. (2021). Does financial literacy “grease the wheels” of the loans market? A note. Studies in Economics and Finance, 39(2), 331-341. https://doi.org/10.1108/SEF-05-2021-0216
  40. Mutengezanwa, M. (2018). Financial literacy among small and medium enterprises in Zimbabwe (Doctoral dissertation, University of KwaZulu-Natal). University of KwaZulu-Natal ResearchSpace. https://researchspace.ukzn.ac.za/handle/10413/17669
  41. OECD. (2023). OECD/INFE 2023 international survey of adult financial literacy (OECD Business and Finance Policy Papers, No. 39). OECD Publishing. https://doi.org/10.1787/56003a32-en
  42. OECD. (2025a). Global outlook on financing for sustainable development 2025: Towards a more resilient and inclusive architecture, OECD Publishing, Paris, https://doi.org/10.1787/753d5368-en
  43. OECD. (2025b). OECD/INFE 2025 international survey of adult financial literacy. Paris: Organisation for Economic Co-operation and Development. https://www.oecd.org/financial/education/
  44. OECD. (2025c). Recommendation of the council on financial literacy, OECD/LEGAL/0461. https://legalinstruments.oecd.org/en
  45. Otlet, P. (1934). Traité de documentation: le livre sur le livre, theéorie et pratique. Editiones mundaneum. https://libstore.ugent.be/fulltxt/BIB-038A006_2006_0001_AC.pdf
  46. Ottaviani, C., & Vandone, D. (2018). Financial literacy, debt burden and impulsivity: a mediation analysis. Economic Notes: Review of Banking, Finance and Monetary Economics, 47(2-3), 439-454. https://doi.org/10.1111/ecno.12115
  47. Phoong, S. W., Phoong, S. Y., & Khek, S. L. (2022). Systematic literature review with bibliometric analysis on Markov switching model: Methods and applications. Sage Open, 12(2), https://doi.org/10.1177/21582440221093062
  48. Pritchard, A. (1969). Statistical bibliography or bibliometrics? Journal of Documentation, 25(4), 348-349.
  49. Rawashdeh, B. (2024). Four decades of research productivity and hot spots in pancreas transplantation. Progress in Transplantation, 34(3), 119-129. https://doi.org/10.1177/15269248241268719
  50. Remund, D. (2010). Financial literacy explicated: the case for a clearer definition in an increasingly complex economy. Journal of Consumer Affairs, 44(2), 276-295. https://doi.org/10.1111/j.1745-6606.2010.01169.x
  51. Rivera, C. (2025). Digital transformation in global finance: How technology is shaping the financial landscape. Academy of Accounting and Financial Studies Journal, 29(S1), 1-3. https://www.abacademies.org/articles/digital-transformation-in-global-finance-how-technology-is-shaping-the-financial-landscape.pdf
  52. Rivero, C. C. (2021). Financial literacy and financial education in South America. In G. Nicolini & B. J. Cude (Eds.), The Routledge Handbook of Financial Literacy (344-362). Routledge. https://doi.org/10.4324/9781003025221
  53. Rojas-Valdez, K., & Arana-Barbier, P. J. (2025). Finance and women’s well-being: a literature review. Cogent Social Sciences, 11(1), 2499889. https://doi.org/10.1080/23311886.2025.2499889
  54. T.C. Cumhurbaşkanlığı. (2025, 17 Mayıs). 22 Mayıs 2025 Finansal Okuryazarlık Günü (Cumhurbaşkanlığı Genelgesi No. 2025/9) [Resmî Genelge]. Resmî Gazete. https://www.resmigazete.gov.tr/eskiler/2025/05/20250517-15.pdf
  55. Tripathi, R. (2024). An insight of financial literacy and artificial intelligence to mitigate behavioral biases: A bibliometric and systematic review analysis using SPAR-4-SLR. International Journal of Emerging Markets. https://doi.org/10.1108/IJOEM-07-2024-1110 United Nations. (2025). World economic situation and prospects as of mid-2025. E/2025/65. https://desapublications.un.org/file/21163/download
  56. Van Raan, A. (2003). The use of bibliometric analysis in research performance assessment and monitoring of interdisciplinary scientific developments. TATuP- Zeitschrift Für Technikfolgenabschätzung in Theorie Und Praxis, 12(1), 20-29. https://doi.org/10.14512/tatup.12.1.20 Van Rooij, M. V., Lusardi, A., & Alessie, R. (2011). Financial literacy and stock market participation. Journal of Financial Economics, 101(2), 449-472. https://doi.org/10.1016/j.jfineco.2011.03.006
  57. Van Rooij, M. V., Lusardi, A., & Alessie, R. (2012). Financial literacy, retirement planning and household wealth. Studies in Economics and Finance, 39(2), 331-341. https://doi.org/10.1108/sef-05-2021-0216
  58. Vuković, D. B., Dekpo-Adza, S., & Matović, S. (2025). AI integration in financial services: A systematic review of trends and regulatory challenges. Humanities and Social Sciences Communications, 12(1), 1-29. https://doi.org/10.1057/s41599-025-04850-8
  59. Xiao, J. J., Ahn, S. Y., Serido, J., & Shim, S. (2014). Earlier financial literacy and later financial behaviour of college students. International Journal of Consumer Studies, 38(6), 593-601. https://doi.org/10.1111/ijcs.12122
  60. Yulianah, Y., & Muflikhati, I. (2023). The influence of financial literacy and lifestyle on debt management behavior in young married families. Journal of Child, Family, and Consumer Studies, 2(1), 69-78. https://doi.org/10.29244/jcfcs.2.1.69-78
  61. Zaimović, A., Torlaković, A., Arnaut-Berilo, A., Zaimović, T., Dedović, L., & Meskovic, M. (2023). Mapping financial literacy: A systematic literature review of determinants and recent trends. Sustainability, 15(12), 9358. https://doi.org/10.3390/su15129358