IMPACT OF FINANCIAL LITERACY OF THE POPULATION ON THE DEVELOPMENT OF THE REGION'S ECONOMY
Abstract
The article is devoted to the analysis of the impact of financial literacy of the population on the economy of the region. In modern conditions, in conditions of economic crisis and sanctions, the development of the national economy depends to a greater extent on the regions. The state of financial markets, the economic potential of the regions and the country as a whole depend on how efficiently and competently households manage their free funds. This article, using correlation and regression analysis, shows how the level of financial literacy affects individual financial indicators of the region. The analysis shows that in order to achieve economic growth in Russian regions and for their development, an increase in the level of financial literacy is necessary. Financial literacy primarily affects the level and quality of life of households themselves, as well as all financial markets and, ultimately, the economic system as a whole.
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