skip to main content

Evolving Trends in Financial Stressor Research Across the Asian Continent: A Systematic Review and Bibliometric Analysis Using VOSviewer

*Venny Elsya  -  Faculty of Psychology, Diponegoro University, Indonesia
Ulya Layyina  -  Faculty of Psychology, Diponegoro University, Indonesia
Open Access Copyright 2026 JURNAL BISNIS STRATEGI

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Citation Format:
Abstract

Objectives: This study examines financial stressor research trends in Asia from 2015 to 2024, aiming to identify thematic priorities, collaboration networks, and existing gaps, thereby offering evidence for policy development and future research directions.Methods: Following PRISMA guidelines, a total of 1,149 peer-reviewed articles from Scopus, Science Direct, and Google Scholar were examined. VOSviewer (version 1.6.19) was chosen for its ability to visualize extensive datasets via co-authorship networks, keyword co-occurrence maps, and bibliographic coupling. The software’s clustering algorithms revealed research hotspots and collaboration trends, applying keyword thresholds of 15 citations for co-citation analysis and 8 occurrences for thematic mapping.Results: Post-2020, publications surged by 78.3%, driven by COVID-19 impacts. China (26.8%), India (17.2%), and South Korea (9.7%) dominated output, while cross-country collaborations (e.g., China-U.S.: 47 papers) highlighted global linkages. VOSviewer revealed five top keywords from those articles: financial stress (21.3% of studies), financial stability (18.7%), economic policy uncertainty (17.5%), financial literacy emerged as a critical mitigator appearing in 18.7% by 2023 studies and food insecurity on rural populations (6.2% ) and cross-country comparisons (7.8%).Conclusion: Mapping financial stressors across the Asian continent using VOSviewer's strong analytical tools can highlight key stressors and gaps to be resolved. These research findings could be beneficial to inform the financial policy of the state or government, including addressing the lack of financial literacy, which can serve as a proximal buffer against financial stress.

Fulltext View|Download
Keywords: Financial Stress, Financial Stressor, Financial Literacy, Economic Factors, Systematic Review, Bibliometric Analysis, VOSviewer.

Article Metrics:

  1. Anderson, R. A., & Smith, B. T. (2024). Implementation science in practice: Applying PDSA cycles for sustainable organizational change. Journal of Change Management, 24(1), 15–32. https://doi.org/10.1080/14697017.2024.2167891
  2. Aria, M., & Cuccurullo, C. (2017). bibliometrix: An R-tool for comprehensive science mapping analysis. Journal of Informetrics, 11(4), 959–975. https://doi.org/10.1016/j.joi.2017.08.007
  3. Asian Development Bank. (2023). Asian development outlook 2023: Household debt and financial stability in Asia. ADB Publications. https://doi.org/10.22617/FLS230022-3
  4. Chen, X., Zhang, H., & Wang, P. (2023). Advances in bibliometric visualization: A comparative analysis of visualization tools for Asian research patterns. Scientometrics, 128(4), 1845–1867. https://doi.org/10.1007/s11192-023-04589-8
  5. De Clercq, B., Rousseau, G. G., & Venter, D. J. L. (2023). Financial literacy and financial well-being in South Africa: A review of research and policy implications. South African Journal of Economic and Management Sciences, 26(1), 1–15. https://doi.org/10.4102/sajems.v26i1.4615
  6. Deming, W. E. (2020). The new economics for industry, government, education (3rd ed.). MIT Press. https://doi.org/10.7551/mitpress/12168.001.0001
  7. Heo, W., Cho, S. H., & Lee, P. (2020). APR financial stress scale: Development and validation of a multidimensional measurement. Journal of Financial Counseling and Planning, 31(1), 44–65
  8. Johnson, K. E., Tachibana, C., Coronado, G. D., & Dember, L. M. (2023). A practical guide to using the Plan-Do-Study-Act (PDSA) framework in quality improvement initiatives. Implementation Science, 18(1), 32–45. https://doi.org/10.1186/s13012-023-01287-y
  9. Karwowski, E., & Stockhammer, E. (2017). Financialization and macroeconomic regimes in emerging economies. Cambridge Journal of Economics, 41(4), 1231–1256. https://doi.org/10.1093/cje/bew052
  10. Kim, S., Lee, J., & Wang, Y. (2022). Financial stress and urban living: Evidence from major Asian cities. Urban Studies Review, 45(4), 412–431. https://doi.org/10.1177/00420980221089654
  11. Lazarus, R. S., & Folkman, S. (1984). Stress, appraisal, and coping. Springer
  12. Lee, C.-C., & Lee, C.-C. (2023). International spillovers of U.S. monetary uncertainty and equity market volatility to China’s stock markets. Journal of Asian Economics, 84, 101575. https://doi.org/10.1016/j.asieco.2022.101575
  13. Lee, S., Rahman, M., & Wong, T. (2024). Regional financial integration and market development in Southeast Asia. Asian Economic Review, 42(2), 123–145
  14. Lusardi, A., & Mitchell, O. S. (2014). The economic importance of financial literacy: Theory and evidence. Journal of Economic Literature, 52(1), 5–44
  15. Martinez-Cruz, T. E., Adelman, L., Castañeda-Quintana, L., & Mejía-Montalvo, D. (2024). Water is more than a resource: Indigenous Peoples and the right to water. Social Sciences & Humanities Open, 10, 100978. https://doi.org/10.1016/j.ssaho.2024.100978
  16. Mohd Amin, S. I. (2021). Household debt as a primary stressor in Asian economies: A review. Journal of Asian Economics, 74, 101–115. https://doi.org/10.1016/j.asieco.2020.101315
  17. Moher, D., Liberati, A., Tetzlaff, J., Altman, D. G., & PRISMA Group. (2009). Preferred reporting items for systematic reviews and meta-analyses: The PRISMA statement. BMJ, 339, b2535
  18. Ouzzani, M., Hammady, H., Fedorowicz, Z., & Elmagarmid, A. (2016). Rayyan — a web and mobile app for systematic reviews. Systematic Reviews, 5(1), 210. https://doi.org/10.1186/s13643-016-0384-4
  19. Page, M. J., McKenzie, J. E., Bossuyt, P. M., Boutron, I., Hoffmann, T. C., Mulrow, C. D., Shamseer, L., Tetzlaff, J. M., Akl, E. A., Brennan, S. E., Chou, R., Glanville, J., Grimshaw, J. M., Hróbjartsson, A., Lalu, M. M., Li, T., Loder, E. W., Mayo-Wilson, E., McDonald, S., ... Moher, D. (2021). The PRISMA 2020 statement: An updated guideline for reporting systematic reviews. BMJ, 372, n71. https://doi.org/10.1136/bmj.n71
  20. Park, S., & Chen, Y. (2024). PDSA cycle effectiveness in educational settings: A meta-analysis of improvement outcomes. Educational Research Review, 31(2), 100452. https://doi.org/10.1016/j.edurev.2024.100452
  21. Pattanaik, S., Supakoma, S., & Chen, L. (2023). Financial inclusion and monetary policy effectiveness in Thailand. Journal of Banking and Finance, 65(4), 789–801
  22. Rahman, M., & Wong, T. (2023). Challenges and opportunities in Southeast Asia's financial markets. International Journal of Finance, 38(1), 67–82
  23. Ramesh, V. K. (2024). Does economic and policy uncertainty impact corporate policies? Evidence from India. Indian Growth and Development Review, 17(1), 43–62. https://doi.org/10.1108/IGDR-09-2022-0107
  24. Rousseau, G. G., & Venter, D. J. L. (2022). The relationship between financial stress and financial literacy among South African households. Journal of Economic and Financial Sciences, 15(1), a725. https://doi.org/10.4102/jef.v15i1.725
  25. Sato, T., Tanaka, H., & Yamamoto, K. (2023). Economic recovery and financial system resilience in Japan. Journal of Financial Stability, 29(2), 234–250
  26. Singh, R., Kuzma, J., & Patel, R. (2023). Policy uncertainty and financial stress in emerging markets. Emerging Markets Review, 44(3), 567–582
  27. Stone, R. A., Brown, A., Douglas, F., Green, M. A., Hunter, E., Lonnie, M., Johnstone, A. M., & Hardman, C. A. (2024). The impact of the cost of living crisis and food insecurity on food purchasing behaviours and food preparation practices in people living with obesity. Appetite, 196, 107255. https://doi.org/10.1016/j.appet.2024.107255
  28. Sultana, N., & Sabau, G. (2023). Food policy and food security in Northern Bangladesh: An empirical study of the impact of food policy on household food security. Social Sciences & Humanities Open, 8(1), 100508. https://doi.org/10.1016/j.ssaho.2023.100508
  29. Taylor, M. J., McNicholas, C., Nicolay, C., Darzi, A., & Bell, D. (2023). A systematic review of the application of Plan-Do-Study-Act methodology in healthcare improvement initiatives. BMJ Quality & Safety, 32(4), 228–240. https://doi.org/10.1136/bmjqs-2022-015651
  30. Van Dijk, W. (2020). Understanding financial stress: Psychological perspectives on economic behavior. Annual Review of Financial Psychology, 12(1), 45–67. https://doi.org/10.1146/annurev-finpsych-2020-012
  31. Van Dijk, W. (2022). Systemic perspectives on stress and resilience: A global approach. Cambridge University Press
  32. Van Eck, N. J., & Waltman, L. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84(2), 523–538. https://doi.org/10.1007/s11192-009-0146-3
  33. Van Eck, N. J., & Waltman, L. (2020). VOSviewer: Visualizing scientific landscapes [Computer software]. Leiden University. https://doi.org/10.5281/zenodo.3724171
  34. Van Eck, N. J., & Waltman, L. (2023). VOSviewer Manual (Version 1.6.18). https://www.vosviewer.com/documentation/Manual_VOSviewer_1.6.18.pdf
  35. Warmath, D., & Zimmerman, D. (2019). Financial literacy as more than knowledge: The development of a formative scale through the lens of Bloom's domains of knowledge. Journal of Consumer Affairs, 53(4), 1602–1629. https://doi.org/10.1111/joca.12286
  36. Wang, X., Zhang, Y., & Li, W. (2024). Economic growth and market reforms in China. China Economic Review, 73(1), 101–120
  37. Wilson, J. R., & Kumar, S. (2023). Integrating PDSA cycles with lean six sigma: A comprehensive approach to organizational improvement. International Journal of Quality & Reliability Management, 40(5), 1123–1142. https://doi.org/10.1108/IJQRM-09-2023-0189
  38. World Bank. (2023). East Asia and Pacific economic update: Financial stress and recovery patterns (April 2023). World Bank Publications. https://doi.org/10.1596/978-1-4648-1769-3
  39. Zhang, L., & Chen, H. (2023). COVID-19 and household financial anxiety in Asia: A longitudinal study 2020-2023. Journal of Asian Economics, 84(2), 178–196. https://doi.org/10.1016/j.asieco.2023.101342
  40. Zhang, Y., & Li, W. (2023). Market reforms and economic performance in China. Journal of Asian Economics, 50(2), 345–360
  41. Zhao, Y., & Li, W. (2022). Analyzing Asian research patterns using VOSviewer: A methodological framework for regional bibliometric analysis. Journal of Information Science, 48(3), 339–358. https://doi.org/10.1177/01655515221089233

Last update:

No citation recorded.

Last update: 2026-01-07 14:02:55

No citation recorded.