| Article type | Research article |  |
| Year | 2026 | |
| Author(s) | Galstyan A., Santrosyan E. | |
| Journal title | Vestnik of Russian-Armenian University (series: humanities and social sciences) | |
| Issue | 2 | |
| Pages | 27-44 | |
| Publication format | ||
| DOI | 10.24412/1829-0485-2026-2-27-44 |
ABSTRACT
In contemporary world, where the pace of global economic development is accelerating and financial market integration processes are intensifying, financial literacy is becoming increasingly important for ensuring a high standard of living. The current article aims to analyze the relationship between behavioral factors and the level of financial literacy in the countries studied. The results of the study demonstrate that differences in financial literacy levels across countries are not limited to income levels or economic development. Countries with high levels of financial literacy exhibit more rational behavior: members of such societies have the necessary skills for long-term financial planning, self-control, risk management, and a high level of social trust.
Keywords: behavioral factors, cognitive biases, financial literacy, trust, thrift.
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