Impact of financial literacy and financial confidence on the savings behaviour of the farmers: the Indian scene

IF 1.5 Q3 AGRICULTURAL ECONOMICS & POLICY

Agricultural Finance Review Pub Date : 2023-11-16 DOI:10.1108/afr-05-2023-0056

Soumyadwip Das, Sumit Kumar Maji

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Abstract

Purpose The study aims to explore the savings behaviour of Indian farmers. An attempt is also made to inspect the effect of financial literacy (FL) and financial confidence (FC) on the savings behaviour of the farmers in India. Design/methodology/approach This study used secondary data on 10,263 Indian farmers from Financial Inclusion Insights, 2017 database. Relevant statistical techniques and ordered probit regression were used to unfold the effect of FL and FC on the savings behaviour of farmers. Findings The outcome of the study revealed that the majority of the Indian farmers exhibited poor levels of FL and FC. Of the total, 42.99% were found to save regularly. FL and FC were observed to play instrumental roles in steering the savings behaviour of the Indian farmers. Household size, financial shocks, gender, farm ownership, income, household financial decision-making process, religion and educational attainment have emerged to be significant predictors of the savings behaviour of Indian farmers. Originality/value The present study makes an original contribution to the extant literature by unfolding the savings behaviour of Indian farmers and the effect of FL and FC on such behaviour using a rich sample of 10,263 farmers for the first time.

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金融知识和金融信心对农民储蓄行为的影响:印度场景

本研究旨在探讨印度农民的储蓄行为。本文还试图考察金融素养(FL)和金融信心(FC)对印度农民储蓄行为的影响。设计/方法/方法本研究使用了2017年金融包容性洞察数据库中10,263名印度农民的二手数据。利用相关的统计技术和有序概率回归来揭示FL和FC对农民储蓄行为的影响。研究结果显示，大多数印度农民表现出低水平的FL和FC。其中，42.99%的人定期储蓄。观察到FL和FC在指导印度农民的储蓄行为方面发挥了重要作用。家庭规模、金融冲击、性别、农场所有权、收入、家庭财务决策过程、宗教和教育程度已成为印度农民储蓄行为的重要预测因素。原创性/价值本研究通过首次使用10263名农民的丰富样本，揭示印度农民的储蓄行为以及FL和FC对这种行为的影响，对现有文献做出了原创性贡献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Agricultural Finance Review AGRICULTURAL ECONOMICS & POLICY-

CiteScore

3.70

自引率

18.80%

发文量

期刊介绍： Agricultural Finance Review provides a rigorous forum for the publication of theory and empirical work related solely to issues in agricultural and agribusiness finance. Contributions come from academic and industry experts across the world and address a wide range of topics including: Agricultural finance, Agricultural policy related to agricultural finance and risk issues, Agricultural lending and credit issues, Farm credit, Businesses and financial risks affecting agriculture and agribusiness, Agricultural policies affecting farm or agribusiness risks and profitability, Risk management strategies including the use of futures and options, Rural credit in developing economies, Microfinance and microcredit applied to agriculture and rural development, Financial efficiency, Agriculture insurance and reinsurance. Agricultural Finance Review is committed to research addressing (1) factors affecting or influencing the financing of agriculture and agribusiness in both developed and developing nations; (2) the broadest aspect of risk assessment and risk management strategies affecting agriculture; and (3) government policies affecting farm profitability, liquidity, and access to credit.