Financial Education in Amazonas: Evaluating Virtual and Traditional Methods
Abstract
This research focused on examining how digital financial education, financial innovation, digital literacy, digital finance, and globalization influence face-to-face financial education in Bagua, Peru. The aim is to contribute to the fulfillment of the Sustainable Development Goal (SDG) related to quality education. The study uses a quantitative approach, and a descriptive-explanatory non-experimental design and data collected from 304 participants using a validated questionnaire. The results showed that digital financial education faces significant barriers, mainly due to the lack of connectivity and familiarity with digital tools; however, participants showed a strong preference for face-to-face financial education, although they also expressed a willingness to integrate digital methods; the analysis of the predictor variables revealed that digital financial education and digital finance positively influence face-to-face financial education, while financial innovation and digital literacy did not show a significant influence. In conclusion, the results express the need for public policies and educational strategies that promote a hybrid model, compounding both digital and in-person learning, to improve financial inclusion in regions with technological gaps. Besides, globalization plays an important role but is not yet fully integrated into financial education.
References
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[19] Ortiz, N.R.; Torres, J. V.; Rodríguez, V. H. P. (2024). Digital Financial Education for Economic and Financial Inclusion in Vulnerable Sectors of Peru. Theoretical and Practical Research in Economic Fields, 4(32): 928 - 938. DOI: https://doi.org/10.14505/tpref.v15.4(32).11
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[26] Tan, X., Xiao, J.J., Meng, K. and Xu, J. (2025). Financial education and budgeting behavior among college students: extending the theory of planned behavior, International Journal of Bank Marketing, 43(3): 506-521. DOI: https://doi.org/10.1108/IJBM-05-2024-0285
[27] Van Nguyen, H., Ha, G. H., Nguyen, D. N., & Doan, A. H. (2022). Understanding financial literacy and associated factors among adult population in a low-middle income country. Heliyon, 1-12. DOI:https://doi.org/10.1016/j.heliyon.2022.e09638
[28] Xiao, J. J., and Kumar, S. (2023). A Research Agenda for Consumer Financial Behavior, Edward Elgar Publishing.
[29] Zahoor, N., Zopiatis, A., Adomako, S., & Lamprinakos, G. (2023). The micro-foundations of digitally transforming SMEs: How digital literacy and technology interact with managerial attributes. Journal of Business Research. DOI: https://doi.org/10.1016/j.jbusres.2023.113755
[30] Zhou, Y., Yang, M., & Gan, X. (2023). Education and financial literacy: Evidence from compulsory schooling law in China. The Quarterly Review of Economics and Finance, 1-12. DOI: https://doi.org/10.1016/j.qref.2022.09.006
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[2] Agasisti, T., Baruccib, E., Cannistra, M., Marazzina, D., and Soncin, M. (2023). Online or on-campus? Analysing the effects of financial education on student knowledge gain. Evaluation and Program Planning, 1-11. DOI: https://doi.org/10.1016/j.evalprogplan.2023.102273
[3] Ali, J., and Ghildiyal, A. (2023). Socio-economic characteristics, mobile phone ownership and banking behaviour of individuals as determinants of digital financial inclusion in India. International Journal of Social Economics, 4. DOI: 10.1108/IJSE-10-2022-0673
[4] Álvarez Avad, N., Braíz Panduro, C., Pizzán Tomanguillo, S., and Villafuerte de la Cruz, A. (2022). Educación financiera y endeudamiento de tarjetas de crédito de clientes de tarjetas de crédito de Plaza vea – Perú. Sapienza: Revista Internacional De Estudios Interdisciplinarios, 1-13. DOI:https://doi.org/10.51798/sijis.v3i1.256
[5] Bellocchi, A., and Travaglini, G. (2025). Financial literacy and financial education: The role of irreversible costs. Economics Letters, 247: 1-19. DOI: https://doi.org/10.1016/j.econlet.2025.112173
[6] Bhattacharyaa, P., Chowdhuryb, P., and Rahman, H. (2023). Does credit availability mitigate domestic conflict? Economic Modelling. DOI: https://doi.org/10.1016/j.econmod.2022.106105
[7] Bucciol, A., Quercia, S., and Sconti, A. (2021). Promoting financial literacy among the elderly: Consequences on confidence. Journal of Economic Psychology, 1-6. DOI: https://doi.org/10.1016/j.joep.2021.102428
[8] Castro, J., Chirinos, D., and Castro, G. (2022). Emergency Remote Education Satisfaction during COVID-19 at a Public University in Central Andes, Peru with Low Resources and Little Online Teaching Experience. Educational Sciences: Theory and Practice, 1-16. DOI: 10.12738/jestp.2022.1.0005
[9] Choudhury, S. R. (2022). Globalization with Controlled Income Inequalities: A Cross-Country Study. Globalization, Income Distribution and Sustainable Development, 67 - 80. DOI: https://doi.org/10.1108/978-1-80117-870-920221010
[10] Clark, R.L., Lin, C., Lusardi, A., Mitchell, O.S., and Sticha, A. (2025). Evaluating the effects of a low-cost, online financial education program. Journal of Economic Behavior & Organization, 232. 1-18. DOI:https://doi.org/10.1016/j.jebo.2025.106952
[11] Cook, J.A., Steigman, P.J., Jonikas, J.A., Brice, G., Johnson, S., Cortez, E.C., Burke-Miller, J.K., and Swarbrick, M. (2024). Building Financial Wellness: Randomized Controlled Trial of a Financial Education and Support Intervention. Psychiatric Services, 76(3). 1-21. DOI: https://doi.org/10.1176/appi.ps.20240210
[12] Garcia-Santillan, A., Zamora-Lobato, M., Tejada-Peña, E., and Valencia-Márquez, L. (2025). Exploring the Relationship Between Financial Education, Financial Attitude, Financial Advice, and Financial Knowledge: Insights Through Financial Capabilities and Financial Well-Being. J. Risk Financial Manag., 18(3). 1-18. DOI:https://doi.org/10.3390/jrfm18030151
[13] Kallenos, T., Milidonis, A., Nishiotis, G., and Zenios, S. (2025). Financial education and spillover effects. Empirica. DOI: https://doi.org/10.1007/s10663-025-09647-1
[14] Kumar, P., Kumar, P., Garg, R., Panwar, M., and Aggarwal, V. (2022). A study on teachers' perception towards E-learning adoption in higher educational institutions in India during the COVID-19 pandemic. Higher Education, Skills and Work-Based Learning. DOI: https://doi.org/10.1108/HESWBL-03-2022-0052
[15] Lusardi, A. (2015). Financial Literacy Skills for the 21st Century: Evidence from PISA. Journal of Consumer Affairs. DOI: https://doi.org/10.1111/joca.12099
[16] Lusardi, A., and Mitchell, O. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal Of Economic Literature. 7 Available at: https://www.scopus.com/inward/record.url?eid=2-s2.0-84896941901&partnerID=10&rel=R3.0.0
[17] Mohd, S. N., and Halim, A. (2023). Financial inclusion, economic growth and the role of digital technology. Finance Research Letters, 1-7. DOI: https://doi.org/10.1016/j.frl.2022.103602
[18] Olano, M. D., 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
[19] Ortiz, N.R.; Torres, J. V.; Rodríguez, V. H. P. (2024). Digital Financial Education for Economic and Financial Inclusion in Vulnerable Sectors of Peru. Theoretical and Practical Research in Economic Fields, 4(32): 928 - 938. DOI: https://doi.org/10.14505/tpref.v15.4(32).11
[20] Pillai, R., Kumar, P., Kumar, N., & Mosab, I. T. (2023). The interplay of skills, digital financial literacy, capability, and autonomy in financial decision making and well-being. Borsa Istanbul Review, 1-15. DOI:https://doi.org/10.1016/j.bir.2022.09.012
[21] Ramos, M. J., Machuca, J. A., & Córdoba, F. (2023). Knowledge management in financial education in Peruvian government programs focused on women: Progress and challenges. Knowledge and Performance Management. DOI: http://dx.doi.org/10.21511/kpm.07(1).2023.01
[22] Remund, D. L. (2010). Financial literacy explicated: The case for a clearer definition in an increasingly complex economy. Journal of Consumer Affairs, 1-20. DOI: https://doi.org/10.1111/j.1745-6606.2010.01169.x
[23] Roy, P. P., Rao, S., & Zhu, M. (2022). Mandatory CSR expenditure and stock market liquidity. Journal of Corporate Finance, 1. DOI: https://doi.org/10.1016/j.jcorpfin.2022.102158
[24] Salas, J., & Ticlla, I. (2022). Educación financiera y desarrollo de emprendimiento, en estudiantes de educación superior. Revista Científica Valor Contable, 1-12. https://revistas.upeu.edu.pe/index.php/ri_vc/article/view/1782
[25] Sconti, A. (2022). Digital vs. in-person financial education: What works best for Generation Z? Journal of Economic Behavior & Organization, 1-19. DOI: https://doi.org/10.1016/j.jebo.2021.12.001
[26] Tan, X., Xiao, J.J., Meng, K. and Xu, J. (2025). Financial education and budgeting behavior among college students: extending the theory of planned behavior, International Journal of Bank Marketing, 43(3): 506-521. DOI: https://doi.org/10.1108/IJBM-05-2024-0285
[27] Van Nguyen, H., Ha, G. H., Nguyen, D. N., & Doan, A. H. (2022). Understanding financial literacy and associated factors among adult population in a low-middle income country. Heliyon, 1-12. DOI:https://doi.org/10.1016/j.heliyon.2022.e09638
[28] Xiao, J. J., and Kumar, S. (2023). A Research Agenda for Consumer Financial Behavior, Edward Elgar Publishing.
[29] Zahoor, N., Zopiatis, A., Adomako, S., & Lamprinakos, G. (2023). The micro-foundations of digitally transforming SMEs: How digital literacy and technology interact with managerial attributes. Journal of Business Research. DOI: https://doi.org/10.1016/j.jbusres.2023.113755
[30] Zhou, Y., Yang, M., & Gan, X. (2023). Education and financial literacy: Evidence from compulsory schooling law in China. The Quarterly Review of Economics and Finance, 1-12. DOI: https://doi.org/10.1016/j.qref.2022.09.006
[31] INEI. (2022). Brechas de la inclusión financiera digial en perú, en un contexto de crisis económica y sanitaria por el COVID-19, usando el analisis de componentes principales. 1-107. Available at: https://www.inei.gob.pe/media/MenuRecursivo/investigaciones/brecha.pdf
Published
2025-03-31
How to Cite
VALLADOLID BENAVIDES, Anita Maribel et al.
Financial Education in Amazonas: Evaluating Virtual and Traditional Methods.
Theoretical and Practical Research in Economic Fields, [S.l.], v. 16, n. 1, p. 236 - 244, mar. 2025.
ISSN 2068-7710.
Available at: <https://journals.aserspublishing.eu/tpref/article/view/8791>. Date accessed: 16 apr. 2025.
doi: https://doi.org/10.14505/tpref.v16.1(33).19.
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