Financial Literacy of Russians: A Comparative Perspective

The main purpose of the study is to assess the level of financial literacy of Russians using the World Bank’s methodology of cross country comparison developed under the Russia Financial Literacy and Education Trust Fund. The data was collected during the all-Russian survey in October 2014 (N = 1629 respondents).  The paper gives a brief description of the methodology, as well as a comparison of the level of financial competence of Russians with similar estimates obtained in the surveys in such countries as Armenia, Colombia, Lebanon, Morocco, Mexico, Mongolia, Mozambique, Nigeria, Tajikistan, Turkey, Uruguay. Research gives a better understanding of the level of financial capability of Russians on a national level and across different socio-demographic groups, which competencies are lacking and why.