학위논문(석사)--Graduate School of International Studies Ajou University :국제경영학과,2016. 8
Alternative Abstract
The Overseas Filipino Workers have been contributing well in the Philippine national economy for decades as they remit their salaries back to the country causing about 10% of GDP growth. The Philippine government has been depending on the OFWs’ remittances for foreign currency reserve. Overseas jobs have been the solution of the Philippines of its unemployment issues but as more and more Filipino workers are going out of the country, the Philippine government is facing another problem which is “brain drain” as more and more professionals are leaving the country to work in different countries around the world. The Philippine government then realized that OFWs are possible new investors in the nation and this could solve both unemployment and “brain drain” if successfully attained. However, many of the OFWs could not save nor invest due to different factors such as family size, contract duration, and cost of work, debt, salary level, and availability of financial markets. The main factor considered is the low financial literacy of the OFWs that they don’t know how to manage their resources so they cannot save nor invest. This paper proves that financial literacy positively affects the growth of the OFWs savings or investments. Such a finding implies that OFWs can save or invest better if they have proper financial literacy education that the government should train them before leaving the country.
