ANALYSIS OF SAVING BEHAVIOR IN INDONESIA: DOES DIGITAL FINANCIAL INCLUSION ENCOURAGE PRIVATE SAVING ? Ida Ayu Meisthya Pratiwi I Wayan Sukadana I Made Putra Yasa Ida Ayu Gde Dyastari Saskara I Made Endra Kartika Yudha
Faculty of Economics and Business Udayana University
Abstract
This study aims to analyze the impact of digital financial inclusion on household saving behavior in Indonesia, while also considering macroeconomic factors such as disposable income growth, per capita income, savings interest rates, inflation, and bank density. Using annual time series data from 2012 to 2023, the analysis employs Ordinary Least Squares (OLS) regression. The results indicate that digital financial inclusion has a positive and statistically significant effect on saving behavior, suggesting that the adoption of financial technologies such as e-wallets and mobile banking promotes a culture of saving. Additionally, per capita income emerges as the strongest predictor of savings, followed by a significant positive effect from disposable income growth. In contrast, inflation has a significant negative effect on savings, while savings interest rates and bank density are found to be statistically insignificant. These findings highlight the importance of strengthening digital financial literacy and developing inclusive digital financial infrastructure to enhance household saving and improve national economic resilience.
Keywords: Inclusion digital finance , savings society , growth income disposable , per capita income , inflation , interest rates flower savings , bank density.
