Does financial literacy influence preventive health check-up behavior in Japan? a cross-sectional study.

BACKGROUND: General health check-ups are an important element of healthcare, as they are designed to detect diseases, thereby reducing morbidity and mortality. Recent studies have found that financial literacy promotes preventive healthcare usage and reduces risky health behaviors such as smoking, lack of exercise, and gambling. Based on this evidence, we hypothesize that financial literacy, as a rational decision-making tool, is positively associated with health check-up behavior in Japan. METHODS: We extracted data on financial literacy, the main explanatory variable of this study, from the 2010 wave of the Preference Parameter Study (PPS) of Osaka University. Data on health check-up behavior as a dependent variable, along with control variables, were obtained from the 2011 PPS wave. Our sample focused on Japan's middle-aged working population (40-64 years), and we applied probit regressions to test our hypothesis. RESULTS: Our final sample size was 2,208 participants after merging the two datasets. Descriptive statistics show that respondents had moderate financial literacy (mean = 0.62, SD = 0.33), low financial education (mean = 0.17, SD = 0.38), and low participation (mean = 31.75%, SD = 46.56%) in the health check-up. The probit regression analysis showed that financial literacy is insignificantly associated with health check-up behavior in Japan (coefficient = -0.0229; 95% CI: -0.2011-0.1551; p-value = 0.801). However, demographic factors such as being male (coefficient = -0.2299; 95% CI: -0.3649--0.0950; p-value = 0.001), older (coefficient = 0.0280; 95% CI: 0.0188 - 0.0371; p-value = 0.000), and married (coefficient = 0.3217; 95% CI: 0.0728 - 0.5705; p-value = 0.011), as well as risky health behavior such as smoking (coefficient = -0.2784; 95% CI: -0.4262--0.1305; p-value = 0.000) are significantly related to health check-up behavior. CONCLUSIONS: Our results suggest that financial literacy insignificantly motivates people to behave rationally and understand the value of health check-ups as a tool for sustainable health.

Unraveling Investor Behavior: The Role of Hyperbolic Discounting in Panic Selling Behavior on the Global COVID-19 Financial Crisis.

In financial markets, irrational behaviors such as hyperbolic discounting and panic selling are prevalent. However, their widespread empirical associations remain unexplored. Numerous behavioral theories discuss how cognitive biases exacerbate panic selling through the lens of immediate loss aversion, a phenomenon in which individuals exhibit impulsive decision-making tendencies due to an intense fear of financial loss during market upheaval. Despite the theoretical elucidation, empirical investigations of these dynamics are lacking. Using a robust dataset comprising 121,293 active investors sourced from a collaborative effort between Hiroshima University and Rakuten Securities Inc., this study used mean comparison tests and probit regression to analyze hyperbolic discounting's role in panic selling behavior on the global COVID-19 financial crisis. The findings reveal that hyperbolic discounting plays a central role in triggering investors' impulsive panic selling behavior, which is driven primarily by fear of potential losses. Other factors that influence panic selling behavior include age, male gender, low education level, financial literacy, household income, household assets, risk aversion, and overconfidence in financial knowledge. Our study explicates the need to address cognitive biases in financial decision making during market crises through strategies such as targeted financial education, regulatory interventions against market manipulation, and the provision of professional advice to investors.

Information and communications technology, health, and gender equality: Empirical evidence from a panel of Pacific developing economies.

Information and communications technology (ICT) has been widely embraced in many developing economies in recent times. Extant research reveals that ICT increases economic growth. Beyond economic growth, improved access to information, markets and economic opportunities via information and communications technology have the potential to influence other dimensions of public welfare. This study quantitatively examines the effects of ICT on selected health and gender dimensions of Pacific Island developing countries' populations. The results show a statistically significant and positive impact of ICT on health and gender outcomes. Our results are robust with an alternative modeling approach, different control variables, and different measures of health and gender outcomes. We further establish that the health outcome of technology has a valid pass-through of income. The study suggests policy implications for the Pacific and other developing countries striving to enhance the health and gender outcomes of SGDs.

Projecting populations for major Pacific Island countries with and without COVID-19: pro-active insights for population policy.

The paper projects aggregate populations of six Pacific Island countries in both pre- and post-COVID19 scenarios using a Cohort Component Method for the period 2020-2060. It uses baseline indicators resembling China and Italy's experiences and finds that Pacific countries could experience a fatality rate between 5 and 20% due to the pandemic. It also finds that most Pacific Island countries would experience higher fatalities in the older age groups, consistent with what is being witnessed in other countries around the world. The analysis also shows that while the risk escalates for people over 50 years onward in all other sample countries, in Fiji, those in the age range of 60 years or more are at higher risk. The findings also indicate that for all countries, the fatality rate for 80 years and older is about 50%. The population projections show that Fiji will be most impacted, while others will experience around 2% initial population decline. The convergence to baseline is found to be slow (except for Tonga) in most Pacific countries. Consequently, the paper suggests a cautious approach in dealing with the current crisis.

Determinants of Exports in a Small and Vulnerable Economy: Fiji Islands-A Disaggregated Analysis.

The previous studies of exports performance in Fiji were carried out at the aggregate level. We conduct a disaggregated analysis of exports of three major products, namely, sugar, tourism, and gold. This analysis is useful for developing sector-based export promotion policies. The long run as well as dynamic export demand functions are estimated at the aggregate and disaggregate levels. The results identify a number of factors such as trading partner income, relative prices, productivity shocks, natural disasters, political disturbances, and the exchange rate that affect the export demand for sugar, tourism, and gold, though not in the same way. For instance, tourism and sugar enjoy the highest income elasticity. Sugar export is adversely affected by natural calamities and political upheavals. The political upheavals also affect tourism adversely in Fiji. The exchange rate affects the export of sugar more than others. The idea that devaluation will promote exports in Fiji needs careful investigation because results show that this will happen with a high cost, i.e. 5% nominal devaluation will be required to increase real exports by 1%.

Les études précédentes sur la performance des exportations aux Fidji ont été réalisées au niveau global. Nous effectuons une analyse désagrégée des exportations de trois produits principaux, à savoir le sucre, le tourisme et l'or. Cette analyse est utile pour développer des politiques sectorielles de promotion des exportations. Nous estimons au niveau global et au niveau désagrégé des projections sur le long terme, ainsi que des fonctions dynamiques de demande d'exportation. Les résultats identifient un certain nombre de facteurs, tels que le revenu des partenaires commerciaux, les prix relatifs, les chocs de productivité, les catastrophes naturelles, les troubles politiques et les variations du taux de change, qui affectent la demande d'exportation pour le sucre, le tourisme et l'or, bien que l'impact soit différent. Par exemple, le tourisme et le sucre bénéficient de l'élasticité du revenu la plus élevée. L'exportation de sucre est affectée par les catastrophes naturelles et les bouleversements politiques. Les bouleversements politiques affectent également le tourisme dans les îles Fidji. Les variations du taux de change affectent l'exportation de sucre plus que les autres produits. Il faut soigneusement étudier l'idée selon laquelle, aux Fidji, la dévaluation monétaire va favoriser les exportations, car les résultats montrent que cela ne se produira qu'avec un coût élevé, c'est-à-dire qu'une dévaluation nominale de 5% sera nécessaire pour augmenter les exportations réelles de 1%.

Financial Literacy, Financial Education, and Cancer Screening Behavior: Evidence from Japan.

Although Japan has a well-established cancer screening program and has implemented several initiatives to increase screening rates, levels of cancer screening can be further improved. Based on a rational decision-making framework, this study examines the role of financial literacy and financial education, which measure peoples' knowledge about investment and savings, respectively, in improving cancer screening rates in Japan. The main data were extracted from Osaka University's Preference Parameters Study for 2011. The dependent variable was the number of cancer screenings while the two main independent variables were financial literacy and financial education. Ordered probit regression models were run to test the association between financial literacy, financial education, and the number of cancer screenings. The results showed a positive relationship between financial education and cancer screening behavior in Japan, while no significant association was observed between financial literacy and screening behavior. Furthermore, according to findings stratified by three age groups, the positive association between financial education and cancer screening behavior was particularly evident in 50- to 59-year-olds, while the effects of other demographic, socioeconomic, and risky health behavior variables were not consistent. It is imperative that implementation of more financial education programs is an effective intervention to encourage cancer screening behavior in Japanese populations.

Impact of Changing Socioeconomic Conditions on Family Caregiving Norms: Evidence from Japan.

Eldercare is a major public health concern in many East Asian countries, including Japan, because of the ever-growing elderly population, and significant changes in family caregiving norms. The changes are due to global diffusion and the influence of socioeconomic and demographic shifts. Consequently, perceptions of the norm of family caregiving need investigation. We examined how demographic and socioeconomic factors influence the perception of family caregiving norms in Japan, using data from Osaka University's preference parameter study. According to the results of the probit regression, age, education, full-time employment, marital status, the number of sons and daughters, interactions between females and age and females and full-time employment, and parents' education are negatively related to the participants' perceptions of family caregiving norms. Our results suggest that people traditionally perceived as caregivers are less likely to have a positive attitude towards family caregiving, despite the government's efforts through Universal Long-Term Care Insurance, implemented in 2000. Therefore, authorities must reassess the role of families, explore alternative forms of community-based care, and provide more assistance to caregivers.

Hesitancy towards the Third Dose of COVID-19 Vaccine among the Younger Generation in Japan.

The younger generation's hesitancy towards the COVID-19 vaccine in Japan received significant attention during the early stages of vaccination. However, there is a lack of a comprehensive study in Japan that analyzes the apprehension towards the third dose of vaccine, commonly known as the booster dose, and its underlying causes. Using data from an online panel survey conducted by the Hiroshima Institute of Health Economics Research at Hiroshima University, we examined the severity of booster dose aversion among youths of different ages. Our findings indicate that a sizeable proportion of the Japanese population, particularly younger men, are hesitant to receive the booster dose. Furthermore, an inter-age group difference in booster dose aversion exists only among men. According to the probit regression results, subjective health status and future anxiety are associated with the booster vaccine hesitancy of men and women of various age groups. Moreover, few socioeconomic and behavioral factors like marital status, having children, household income and assets, and having a myopic view of the future, are also associated with the booster dose aversion among youths of certain ages. Given the diverse attitude of the younger generation, our findings suggest that public health authorities should develop effective communication strategies to reduce vaccine apprehension in the society.

Has Smartphone Use Influenced Loneliness during the COVID-19 Pandemic in Japan?

The influence of smartphone use on increased risk of feeling lonely has been recognized as a global public health concern. However, it is unclear whether this influence has changed during the ongoing COVID-19 pandemic, during which smartphones have become a particularly important means of communication due to health safety measures restricting personal interactions. We used Hiroshima University's online survey data collected from 18-28 February 2022, to assess the impact of smartphone use on loneliness in Japan. The final sample included 2630 participants aged over 20 years, with loneliness measured using the UCLA scale and smartphone use calculated as the duration of usage in minutes/day. Weighted logit regression analysis was used to examine the association between smartphone use and loneliness, with other demographic, socioeconomic, and psychological characteristics as explanatory variables. Contrary to conventional evidence, our findings show that smartphone use mitigated the risk of loneliness during the pandemic. This was especially true among females under 65 years old. We found that age, subjective health status, future anxiety, and depression impacted this relationship. The findings of this study can help guide policymaking by showing the importance of providing adequate digital platforms to manage loneliness and mental health during times of isolation.

A Longitudinal Study on Loneliness during the COVID-19 Pandemic in Japan.

The prolonged COVID-19 pandemic has exacerbated existing socioeconomic and health risk factors and added additional dimensions to the loneliness problem. Considering the temporal extension of COVID-19, which exposes people to various loneliness conditions, we examined the development of loneliness and changing risk factors based on age and gender. We used longitudinal data from Hiroshima University's nationwide survey in Japan, conducted before and during the pandemic, to categorize loneliness into three types: long-term (feeling of loneliness experienced both before and during the pandemic), post-pandemic (feeling of loneliness experienced throughout the whole pandemic period), and fresh (feeling of loneliness experienced only in the last year of the pandemic). Loneliness categorization is important because the prolonged existence of the COVID-19 pandemic has added additional dimensions to the loneliness problem, which existing studies rarely identify. As a result, the distinction between long-term and fresh loneliness remains unexplained. The weighted logit regression results revealed that many Japanese people have remained or became lonely during the pandemic and identified variations based on gender, age, and changes in socioeconomic and health characteristics. More precisely, almost 52% of the participants experienced long-term loneliness, while 8% of the participants experienced post-pandemic loneliness, and nearly 5% experienced fresh loneliness. Age and having children were associated with long-term loneliness; gender, age, leaving full-time employment, financial literacy, change in health status, and change in depression were associated with post-pandemic loneliness; and gender, having children, living in rural areas, change in household assets, financial literacy, changes in health status, and changes in depression were associated with fresh loneliness. These results indicated that long-term, post-pandemic, and fresh loneliness have distinct characteristics. The Japanese government should devise distinctive solutions for people suffering from varying loneliness before and during the pandemic rather than adopting a generalized approach.

Socio-economic and demographic determinants of fertility in six selected Pacific Island Countries: An empirical study.

In this study, we seek to perform macro analysis of fertility in a panel of 6 selected Pacific Island Countries (PICs, hereafter). The macro analysis with secondary data, mostly obtained from World Bank database, stretched over the period 1990-2019 was stacked randomly in a balanced panel set-up, within which the most preferred fixed effect model is used for multivariate analysis. Pooled OLS and Random effect estimation techniques were applied for comparing results. Categories such as women's empowerment, health, connectivity and cost of living were used to classify proxy variables as regressors for fertility determination. The results indicate variables such as contraceptive prevalence rate, female labour force participation rate and consumer price index (inflation) are negatively correlated with fertility at 1% level, while urbanisation is negatively correlated with fertility rate only at 10% significance level. Real GDP has negative relationship with fertility, however it is not statistically significant. Variables that are positively correlated with fertility but hold limited to no significance effects are female secondary enrolment, female population, mobile subscription and infant mortality rate. It is implied that those variables that are negatively associated with fertility, as well as Real GDP will be the major drivers for achieving replacement level fertility in the long run.