FACTORS SHAPING WOMEN’S SAVING BEHAVIOUR FOR ECONOMIC ADVANCEMENT IN EMERGING NATIONS: A STUDY IN BANGLADESH

Abstract

This study investigates the factors influencing women’s saving behaviour for economic advancement in developing countries. A total of 418 individuals aged 18 to over 50 years old from various demographic backgrounds in Bangladesh were included in the study. The data was processed and analysed with structural equation modelling using Smart PLS (version 4.1.0.3). This study concluded that financial inclusion, technology, and digital inclusion have a notable positive influence on the economic empowerment of women and, consequently, women’s economic empowerment leads to the economic advancement of the nation. The study highlighted how the factors influencing women’s saving habits are connected to the economic freedom of women and the reciprocal effect that is generated on the nation’s economic development by dint of better decisionmaking, diverse investment options, resource allocation, and agency formation by women in general. Consequently, it is crucial to have strategies that focus on improving these factors and enforcing actions that promote gender equality and economic independence for women to unleash their potential as catalysts of sustainable economic development in developing countries.