Many countries are establishing national programs to increase their citizens’ family economic well-being. However, the concept of family economic well-being is still in its infancy, with only a few models established for developing countries. Thus, to create and implement effective policies, it is necessary to comprehend the concept family economic well-being from a multi-disciplinary and multi-dimensional perspective, especially for a developing country like Sri Lanka. In the current study, path analysis was performed to examine the drivers that affect family economic well-being of coconut growers in Sri Lanka. Data from 400 respondents were analyzed empirically to validate the hypothesized relationships using the PLS-SEM approach. The findings provide support for the relationships between money attitude, technology adoption, financial behavior, financial knowledge, and family economic well-being which explained 91.2% of variance in family economic well-being. Understanding the paths that lead to better individual economic well-being has the potential to aid in successful policymaking, and curriculum design to assist individuals’ efforts to achieve greater family economic well-being.
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In-Text Citation: (Wijekoon et al., 2021)
To Cite this Article: Wijekoon, R., Sabri, M. F., Ahmad, N., & Rahim, H. A. (2021). Understanding the Path Toward Family Economic Well-Being of Coconut Growers. International Journal of Academic Research in Business and Social Sciences, 11(19), 309–329.
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