Financial Literacy and Exercise Behavior: Evidence from Japan
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- Shunsuke Ono
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Pattaphol Yuktadatta
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Takafumi Taniguchi
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Tomoe Iitsuka
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Masafumi Noguchi
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Sawa Tanaka
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Haruka Ito
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Kousei Nakamura
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Nanako Yasuhara
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Chihiro Miyawaki
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Katsumi Mikura
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Mostafa Saidur Rahim Khan
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
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- Yoshihiko Kadoya
- School of Economics, Hiroshima University, Hiroshima 739-8525, Japan
説明
<jats:p>Lack of exercise, which increases the risk of many serious physical and mental illness, has been a common health issue in Japan. Recent studies confirm that financial literacy discourages irrational behavior like gambling and smoking. We therefore investigate how financial literacy, as a rational decision-making instrument, relates to peoples’ exercise behavior in Japan. We hypothesize that financial literacy encourages people to exercise regularly. Using Osaka University’s Preference Parameters Study (PPS) for 2010, we categorized respondents into two groups: those who exercise regularly or at least once a week and those who do not. Our probit estimation results show that financial literacy is positively related with exercise behavior, meaning that financially literate people are more likely to exercise regularly. As the COVID-19 health pandemic seems to exacerbate peoples’ physical inactivity, the results of our study show an alternative approach to encourage exercise. We therefore recommend that governments implement a financial literacy improvement policy to alleviate the lack of exercise.</jats:p>
収録刊行物
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- Sustainability
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Sustainability 13 (8), 4189-, 2021-04-09
MDPI AG