Regional Aspects of Implementing Financial Literacy Promotion Programs in the Russian Federation

Elizaveta Khudko – Senior Research fellow of the Center for Macroeconomics and Finance of the Gaidar Institute, Candidate of Economic Sciences. E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

In recent years, the ever growing number of Russia’s regions have been involved in efforts to improve the financial literacy of the population. In order to analyze Russia’s experience in this field, the research was focused on the Russian Federation’s subjects with population in excess of 3 million, which were taking part in a joint undertaking of the RF Ministry of Finance and the World Bank titled The Financial Education and Financial Literacy Project, namely, the Republic of Tatarstan, Krasnodar Krai, Nizhny Novgorod Oblast, Rostov Oblast, Sverdlovsk Oblast, and the City of Moscow.

A thorough analysis of the relevant normative acts and measures being implemented in the territory of these subjects of the Russian Federation made it possible for the researchers to draw a number of conclusions as to whether the issue of improving the financial literacy of the population was properly addressed at the regional legislative level, and whether the regional authorities were active enough in carrying out their own educational undertakings and in supporting federal initiatives in this field.

Key words: financial literacy, improving financial literacy, regional aspects of increasing financial literacy.