Digital Financial Education for Economic and Financial Inclusion in Vulnerable Sectors of Peru
Abstract
The study explores the influence of digital financial education on the financial inclusion of workers in the construction sector in Peru. A quantitative approach with a non-experimental and cross-sectional design was used, applying a questionnaire to 128 self-employed workers. The results indicate a moderate influence of digital financial education on financial inclusion, with an R value of 0.541 and an R² of 0.292. The ANOVA analysis and the regression coefficients confirm the significance of the model (p < 0.001). Factors such as perception and trust in digital banking and integration of emerging technologies significantly influence financial inclusion. Most workers have a good level of digital financial literacy, although there is a need to improve training in digital tools; revealing that digital financial literacy is crucial for financial inclusion and sustainable economic growth, fulfilling Sustainable Development Goal 8.
References
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[23] Madanaguli, A., Parida, V., Sjodin, D., & Oghazi, P. (2023). Literature review on industrial digital platforms: A business model perspective and suggestions for future research. Technological Forecasting and Social Change, 194: 1-15. DOI: https://doi.org/10.1016/j.techfore.2023.122606
[24] Mohammed, F., & Salim, W. (2023). Digital Platforms and the Improvement of Learning Outcomes: Evidence Extracted from Meta-Analysis. Sustainability, 15(2): 1-18. DOI: https://doi.org/10.3390/su15021305
[25] Náñez, S., Vasquez, J., Gallegos, L., & Muñoz, N. (2024). What Factors Are Limiting Financial Inclusion and Development in Peru? Empirical Evidence. Economies, 12(4): 1-17. DOI:https://doi.org/10.3390/economies12040093
[26] Obinna, C. (2024). Neo-liberalism, human capital theory and the right to education: Economic interpretation of the purpose of education. Social Sciences & Humanities Open, 9: 1-17. DOI:https://doi.org/10.1016/j.ssaho.2023.100734
[27] Olano, M., et al. (2024). The Need for Innovation in Financial Education: A Study of Household Indebtedness in Peru. Revista De Gestão Social E Ambiental, 18(1), e04919. DOI: https://doi.org/10.24857/rgsa.v18n1-081
[28] Paredes-Valverde, Y., Quispe-Herrera , R., Estrada-Araoz, E. G., Quispe-Paredes, D. R., & Quispe-Cabrera, K. V. (2024). Impact of informal trade on labor employability in the Peruvian Amazon economy. Sapienza: International Journal of Interdisciplinary Studies, 5(2), e24045. DOI: https://doi.org/10.51798/sijis.v5i2.745
[29] Ramirez-Asis, H., Castillo-Picon, J., Miranda, J., Herrera, J., & Acuña, W. (2024). Socioeconomic Factors and Financial Inclusion in the Department of Ancash, Peru, 2015 and 2021. Technological Innovations for Business, Education and Sustainability, 249-264. DOI: https://doi.org/10.1108/978-1-83753-106-620241017
[30] Said, A., Emara, N., & Pearlman, J. (2019). On the Impact of Financial Inclusion on Financial Stability and Inequality: The Role of Macroprudential Policies. Development Economics: Macroeconomic Issues in Developing Economies e Journal, 1-32. DOI: https://doi.org/10.2139/ssrn.3814335
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[34] Smith, S. (2020). Emerging Technologies And Implications For Financial Cybersecurity. International Journal of Economics and Financial Issues, 10(1): 27-32. DOI: https://doi.org/10.32479/ijefi.8844
[35] Suhrab, M., Chen, P., & Ullah, A. (2024). Digital financial inclusion and income inequality nexus: Can technology innovation and infrastructure development help in achieving sustainable development goals? Technology in Society, 76: 1-16. DOI: https://doi.org/10.1016/j.techsoc.2023.102411
[36] Tabassum, T., & Ali, M. (2024). Financial Literacy in the Age of Digital Finance: A Global Perspective. Academic Journal on Business Administration, Innovation & Sustainability, 4(3): 30-36. DOI:https://doi.org/10.69593/ajbais.v4i3.79
[37] Tondeur, P., et al. (2021). Quality criteria for conceptual technology integration models in education: bridging research and practice. Educational Technology Research and Development, 69: 2178-2208. DOI:https://doi.org/10.1007/s11423-020-09911-0
[38] Vasile, V., Panait, M., & Apostu, S. (2021). Financial Inclusion Paradigm Shift in the Postpandemic Period. Digital-Divide and Gender Gap. Int. J. Environ. Res. Public Health, 18(20): 1-17. DOI:https://doi.org/10.3390/ijerph182010938
[39] Wan, R., & Abdul, S. (2023). Digital Financial Literacy Among Young Adults in Malaysia. International Business Education Journal, 16(2): 115-126. DOI: https://doi.org/10.37134/ibej.Vol16.2.9.2023
[40] Widyastuti, U., Respati, D., Dewi, V., & Mukti, A. (2024). The nexus of digital financial inclusion, digital financial literacy and demographic factors: lesson from Indonesia. Cogent Business & Management, 11(1): 1-15. DOI: https://doi.org/10.1080/23311975.2024.2322778
[41] Zaimovic, A., et al. (2024). Measuring Digital Financial Literacy. Procedia Computer Science, 236: 574-581. DOI: https://doi.org/10.1016/j.procs.2024.05.068
[2] Amaliah, I., et al. (2024). Does digital financial inclusion forecast sustainable economic growth? Evidence from an emerging economy. Journal of Open Innovation: Technology, Market, and Complexity, 10(2): 1-17. DOI: https://doi.org/10.1016/j.joitmc.2024.100262
[3] Anarfo, E., Abor, J., & Osei, K. (2020). Financial regulation and financial inclusion in Sub-Saharan Africa: Does financial stability play a moderating role? Research in International Business and Finance, 51: 1-21. DOI: https://doi.org/10.1016/J.RIBAF.2019.101070
[4] Basory, H., Manalu, S., & Saputri, D. (2023). The Influence of Trust, Technology Understanding, and Interconnected Network on the Digital Banking Services Usage in Pujiharjo Village, Tirtoyudo Subdistrict. Indonesian Journal of Business Analytics, 3(4): 1235-1250. DOI: https://doi.org/10.55927/ijba.v3i4.5159
[5] Beller, A., Grossbard, S., & Idmansour, M. (2024). Women, Economics, and Household Economics: The Relevance of Workshops Founded by Nobel Laureate Gary Becker, and of Jacob Mincer. Journal of Family and Economic Issues, 1-14. DOI: https://doi.org/10.1007/s10834-023-09941-9
[6] Benedetta, G., Palmieri, E., Miami, S., & Stefanelli, V. (2024). The impact of FinTech innovation on digital financial literacy in Europe: Insights from the banking industry. Research in International Business and Finance, 69: 1-15. DOI: https://doi.org/10.1016/j.ribaf.2024.102218
[7] Chen, H. (2022). Construction of a Novel Digital Platform for Smart Financial Talent Training Under the Big Data Environment. Second International Conference on Artificial Intelligence and Smart Energy (ICAIS), 569-572. DOI: https://doi.org/10.1109/ICAIS53314.2022.9742872
[8] Chriswick, B. (2024). Estimating returns to schooling and experience: a history of thought. Education Economics, 1-15. DOI: https://doi.org/10.1080/09645292.2024.2326015
[9] Condori, H., et al. (2023). Educación financiera y toma de decisiones en Contadores Públicos, Puno - Perú. Ciencia Latina Revista Científica Multidisciplinar, 7(4): 2293-2316. DOI:https://doi.org/10.37811/cl_rcm.v7i4.7077
[10] Cotrina, R., & Pumarrumi, A. (2020). Billetera Digital: Estrategia de Inclusión Financiera en las micro y pequeñas empresas del Perú. Revista Colombiana De Contabilidad - ASFACOP, 8(15): 31-52. DOI:https://doi.org/10.56241/asf.v8n15.170
[11] Dash, A., & Mohanta, G. (2024). Fostering financial inclusion for attaining sustainable goals: What contributes more to the inclusive financial behaviour of rural households in India? Journal of Cleaner Production, 449: 1-19. DOI: https://doi.org/10.1016/j.jclepro.2024.141731
[12] Díaz Tantalean, N. A., García Morales, F. N., & Calvanapón Alva, F. A. (2022). Financial culture and indebtedness of the clients of the savings and credit cooperatives. Sapienza: International Journal of Interdisciplinary Studies, 3(2): 826–835. DOI: https://doi.org/10.51798/sijis.v3i2.411
[13] Dyukina, T., Kordovich, V., & Diukina, I. (2020). Features of Training in Financial Management Technologies in the Digital Economy. Advances in Economics, Business and Management Research, 31-34. DOI:https://doi.org/10.2991/aebmr.k.200423.007
[14] Falaiye, T., et al. (2024). Financial Inclusion Through Technology: A Review Of Trends In Emerging Markets. International Journal of Management & Entrepreneurship Research, 6(2): 1-15. DOI:https://doi.org/10.51594/ijmer.v6i2.776
[15] Fauziyah, A., Bidiman, A. H., Sartika, S., Khairunnisa, S., & Aty, S. (2024). Digital Financial Literacy and Digital Financial Inclusion: Efforts to Overcome Challenges After the Covid-19 Pandemic and Increase the Independence of Financial Management. Advances in Economics, Business and Management Research, 1-18. DOI: https://doi.org/10.2991/978-94-6463-443-3_18
[16] Gaspar-Barrios, D., Condor-Huaranga, A., Moore-Blanco, C., & Orosco-Fabian, R. (2024). Educación financiera en jóvenes de educación superior. Revista Internacional de Investigación en Ciencias Sociales, 20(1): 1-14. DOI: https://doi.org/10.18004/riics.2024.junio.37
[17] Golden, & Cordie, L. (2022). Digital Financial Literacy. Adult Literacy Education: The International Journal of Literacy, Language, and Numeracy, 20-26. DOI: https://doi.org/10.35847/wgolden.lcordie.4.3.20.
[18] Ha, S., Park, Y., Kim, J., & Kim, S. (2023). Research trends of digital platforms: A survey of literature from 2018 to 2021. Telecommunications Policy, 47(8): 1-17. DOI: https://doi.org/10.1016/j.telpol.2023.102543
[19] Herrera, D., Uribe, J., & Hidalgo, D. (2023). Pagos digitales e inclusión financiera: Un estudio correlacional en microempresarios del distrito de Pueblo Libre - Lima, Perú 2022. Industrial Data, 26(2): 267-277. DOI: http://dx.doi.org/10.15381/idata.v26i2.25582
[20] Juliao, J., Ayllon, T., & Gaspar, M. (2022). Financial Inclusion Through Digital Banking: The case of Peru. Innovations in Industrial Engineering II, 294-304. DOI: https://doi.org/10.1007/978-3-031-09360-9_24
[21] Kaur, S., & Arora, S. (2020). Role of perceived risk in online banking and its impact on behavioral intention: trust as a moderator. Journal of Asia Business Studies, 15(1): 1-30. DOI: 10.1108/jabs-08-2019-0252
[22] Leoni, S. (2023). A Historical Review of the Role of Education: From Human Capital to Human Capabilities. Review of Political Economy, 1-18. DOI: https://doi.org/10.1080/09538259.2023.2245233
[23] Madanaguli, A., Parida, V., Sjodin, D., & Oghazi, P. (2023). Literature review on industrial digital platforms: A business model perspective and suggestions for future research. Technological Forecasting and Social Change, 194: 1-15. DOI: https://doi.org/10.1016/j.techfore.2023.122606
[24] Mohammed, F., & Salim, W. (2023). Digital Platforms and the Improvement of Learning Outcomes: Evidence Extracted from Meta-Analysis. Sustainability, 15(2): 1-18. DOI: https://doi.org/10.3390/su15021305
[25] Náñez, S., Vasquez, J., Gallegos, L., & Muñoz, N. (2024). What Factors Are Limiting Financial Inclusion and Development in Peru? Empirical Evidence. Economies, 12(4): 1-17. DOI:https://doi.org/10.3390/economies12040093
[26] Obinna, C. (2024). Neo-liberalism, human capital theory and the right to education: Economic interpretation of the purpose of education. Social Sciences & Humanities Open, 9: 1-17. DOI:https://doi.org/10.1016/j.ssaho.2023.100734
[27] Olano, M., et al. (2024). The Need for Innovation in Financial Education: A Study of Household Indebtedness in Peru. Revista De Gestão Social E Ambiental, 18(1), e04919. DOI: https://doi.org/10.24857/rgsa.v18n1-081
[28] Paredes-Valverde, Y., Quispe-Herrera , R., Estrada-Araoz, E. G., Quispe-Paredes, D. R., & Quispe-Cabrera, K. V. (2024). Impact of informal trade on labor employability in the Peruvian Amazon economy. Sapienza: International Journal of Interdisciplinary Studies, 5(2), e24045. DOI: https://doi.org/10.51798/sijis.v5i2.745
[29] Ramirez-Asis, H., Castillo-Picon, J., Miranda, J., Herrera, J., & Acuña, W. (2024). Socioeconomic Factors and Financial Inclusion in the Department of Ancash, Peru, 2015 and 2021. Technological Innovations for Business, Education and Sustainability, 249-264. DOI: https://doi.org/10.1108/978-1-83753-106-620241017
[30] Said, A., Emara, N., & Pearlman, J. (2019). On the Impact of Financial Inclusion on Financial Stability and Inequality: The Role of Macroprudential Policies. Development Economics: Macroeconomic Issues in Developing Economies e Journal, 1-32. DOI: https://doi.org/10.2139/ssrn.3814335
[31] Salas, A., Miranda, J., Saldaña, R., & Diaz, R. (2022). Las FINTECH y el proceso de inclusión financiera en Perú. QUIPUKAMAYOC, 30(63): 69-79. DOI: https://doi.org/10.15381/quipu.v30i63.24043
[32] Sapre, N. (2022). Financial inclusion: philosophical and methodological underpinnings. Qualitative Research in Financial Markets., 15(3): 445-452. DOI: https://doi.org/10.1108/qrfm-10-2022-0179
[33] Semenog, A. (2021). Digital Financial Services As The Main Product Of Fintech Companies. Vìsnik Sumsʹkogo deržavnogo unìversitetu., 142-152. DOI: https://doi.org/10.21272/1817-9215.2021.4-17
[34] Smith, S. (2020). Emerging Technologies And Implications For Financial Cybersecurity. International Journal of Economics and Financial Issues, 10(1): 27-32. DOI: https://doi.org/10.32479/ijefi.8844
[35] Suhrab, M., Chen, P., & Ullah, A. (2024). Digital financial inclusion and income inequality nexus: Can technology innovation and infrastructure development help in achieving sustainable development goals? Technology in Society, 76: 1-16. DOI: https://doi.org/10.1016/j.techsoc.2023.102411
[36] Tabassum, T., & Ali, M. (2024). Financial Literacy in the Age of Digital Finance: A Global Perspective. Academic Journal on Business Administration, Innovation & Sustainability, 4(3): 30-36. DOI:https://doi.org/10.69593/ajbais.v4i3.79
[37] Tondeur, P., et al. (2021). Quality criteria for conceptual technology integration models in education: bridging research and practice. Educational Technology Research and Development, 69: 2178-2208. DOI:https://doi.org/10.1007/s11423-020-09911-0
[38] Vasile, V., Panait, M., & Apostu, S. (2021). Financial Inclusion Paradigm Shift in the Postpandemic Period. Digital-Divide and Gender Gap. Int. J. Environ. Res. Public Health, 18(20): 1-17. DOI:https://doi.org/10.3390/ijerph182010938
[39] Wan, R., & Abdul, S. (2023). Digital Financial Literacy Among Young Adults in Malaysia. International Business Education Journal, 16(2): 115-126. DOI: https://doi.org/10.37134/ibej.Vol16.2.9.2023
[40] Widyastuti, U., Respati, D., Dewi, V., & Mukti, A. (2024). The nexus of digital financial inclusion, digital financial literacy and demographic factors: lesson from Indonesia. Cogent Business & Management, 11(1): 1-15. DOI: https://doi.org/10.1080/23311975.2024.2322778
[41] Zaimovic, A., et al. (2024). Measuring Digital Financial Literacy. Procedia Computer Science, 236: 574-581. DOI: https://doi.org/10.1016/j.procs.2024.05.068
Published
2024-12-30
How to Cite
ORTIZ, Neptalí Rojas; TORRES, Joél Vásquez; RODRÍGUEZ, Víctor Hugo Puican.
Digital Financial Education for Economic and Financial Inclusion in Vulnerable Sectors of Peru.
Theoretical and Practical Research in Economic Fields, [S.l.], v. 15, n. 4, p. 928 - 938, dec. 2024.
ISSN 2068-7710.
Available at: <https://journals.aserspublishing.eu/tpref/article/view/8684>. Date accessed: 06 jan. 2025.
doi: https://doi.org/10.14505/tpref.v15.4(32).11.
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