Measuring Financial Literacy Among Libyan Youth in the Digital Age: A Systematic Literature Review and Bibliometric Analysis
List of Authors
Mohamed M. Mukhtar, Mohd Ridzuan Darun
Keyword
Financial Literacy, Libyan Youth, Digital Age, Bibliometric Analysis, Digital Financial Tools
Abstract
The proposed paper examines financial literacy among young people in Libya in the digital era through the use of systematic literature review and bibliometric analysis to understand the trends, challenges, and gaps in the field research. Financial literacy, which is considered the necessary qualification to handle personal finances, is becoming more and more bound with digital skills following the spread of online banking, online payments and cryptocurrencies. Young people constitute the most important element of the economic development of Libya, the homeland of which over 60% of the population is below 30. Nonetheless, political turmoil, economic hurdles, and poor accessibility to good education have been an obstacle in promoting efficient financial literacy initiatives. Initially, the bibliometric analysis was able to identify a total of 750 articles. Ultimately, 105 articles were chosen to be included in the systematic review as a result of a series of screens in order to provide a description of financial literacy among Libyan young people in the digitalisation era. The research paper sheds light on the necessity to combine digital media and situational elements when developing financial literacy interventions that appeal to young Libyans. It highlights how educational institutions, government policies and international best practices can help in overcoming system barriers. The discussion also highlights how emerging digital platforms, gamification, and behavioural nudges could be utilised in order to improve engagement and knowledge retention in the youth. This study uses picture networks of co-occurrence and citation to identify certain contributors and intellectual tendencies in the field. The results provide policymakers, professors, and researchers with the practical information to engage in specific measures to address the financial literacy gap that will equip Libyan youth to navigate the sophistications of the modern financial system, providing them with the means to become a part of the digital economy.