Financial Literacy and Economic Well-Being of Women Investors in Kerala: A PRISMA-Guided Systematic Literature Review

Financial Literacy, Women's Economic Empowerment, Investment Behaviour, Economic Well-being, Financial Inclusion

Financial literacy has emerged as a critical determinant of individuals' financial capability, investment behaviour, and long-term economic well-being. In recent years, increasing participation of women in financial markets has highlighted the need to understand the factors influencing their investment decisions and financial outcomes. Although Kerala has consistently reported one of the highest literacy rates in India, evidence indicates that financial literacy among women remains comparatively inadequate, limiting effective participation in formal investment markets. Existing studies examining women investors in Kerala are fragmented across themes such as investment awareness, financial inclusion, digital financial literacy, entrepreneurial finance, and investment preferences. Consequently, there is limited systematic evidence explaining how financial literacy contributes to the economic well-being of women investors. This study systematically reviews the existing literature to synthesise current knowledge, identify emerging themes, examine theoretical perspectives, and highlight research gaps related to financial literacy and the economic well-being of women investors, with particular emphasis on Kerala.