THE DEVELOPMENT OF A FINANCIAL LITERACY SYSTEM IN RUSSIA

Svetlana A. Litvinova

Abstract


The article touches upon the issues of financial literacy development in Russia. The author considers financial literacy as a set of procedures that build up the system of financial literacy institution development including financial inclusion, an increase in financial literacy and a strengthening of the protection of consumers’ rights in regard to financial services. The author presents research findings that indicate a poor financial literacy level in Russia. The key conclusion reflects the goal of the paper: the development of the financial literacy system depends on the demand for innovative financial services and the measures taken by the government to develop the financial literacy system.


Keywords


Financial literacy, financial knowledge, financial learning, financial education, financial services, financial literacy strategy.

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References


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DOI: http://dx.doi.org/10.12955/cbup.v6.1175

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