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Financial Literacy and Gambling Behavior: Evidence from Japan

Watanapongvanich, Somtip ; Binnagan, Punjapol ; Putthinun, Pongpat ; Khan, Mostafa Saidur Rahim ; Kadoya, Yoshihiko

Journal of gambling studies, 2021-06, Vol.37 (2), p.445-465 [Periódico revisado por pares]

New York: Springer US

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  • Título:
    Financial Literacy and Gambling Behavior: Evidence from Japan
  • Autor: Watanapongvanich, Somtip ; Binnagan, Punjapol ; Putthinun, Pongpat ; Khan, Mostafa Saidur Rahim ; Kadoya, Yoshihiko
  • Assuntos: Behavior ; Bias ; Community and Environmental Psychology ; Economics ; Education ; Fathers ; Financial literacy ; Gambling ; Literacy ; Medicine ; Medicine & Public Health ; Original Paper ; Pathological gambling ; Polls & surveys ; Psychiatry ; Sociology ; Welfare
  • É parte de: Journal of gambling studies, 2021-06, Vol.37 (2), p.445-465
  • Notas: ObjectType-Article-1
    SourceType-Scholarly Journals-1
    ObjectType-Feature-2
    content type line 23
  • Descrição: According to a survey by Japan’s Ministry of Health, Labor, and Welfare in 2017, 3.6% of Japanese adults—equivalent to about 3.2 million people—have suffered from problem gambling at some point in their lifetime. This study examines the relationship between financial literacy, financial education, and gambling behavior (measured as gambling frequency) among the Japanese population. We hypothesize that financially literate and financially educated people who use their knowledge to make sound financial decisions are less likely to gamble. The data used in this study are from a nationwide survey in Japan from the Preference Parameters Study of Osaka University in 2010 (n = 3687). To control for endogeneity bias between financial literacy and gambling behavior, we use the education of respondents’ fathers as an instrumental variable. The results from the probit-instrumental variable model show that financial literacy has a significantly negative relationship with gambling frequency, while financial education has no significant relationship with gambling frequency. Our findings suggest that problem gambling may be mitigated by promoting financial literacy, but no such conclusion can be drawn for financial education.
  • Editor: New York: Springer US
  • Idioma: Inglês
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  • Realização: ABCD-USP USP   Logos de Redes Sociais: Freepik

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