UDC 378.096

Gushchina I.A.¹ (St. Petersburg, Russian Federation) – gushchiina@gmail.com; Trapitsyn S.Yu.¹ (St. Petersburg, Russian Federation) – trapitsin@gmail.com; Yakovleva T.V.¹ (St. Petersburg, Russian Federation) – tamara80@yandex.ru; Litvina K.Ya.¹ (St. Petersburg, Russian Federation) – litvinaky@yandex.ru

¹Herzen State Pedagogical University of Russia

Abstract. This article presents a comparative analysis of best practices in economic socialization in foreign countries and the Russian Federation. In the context of global financial market instability and the digitalization of the economy, the ability of an individual to function effectively in the economic environment has become critically important. The authors consider economic socialization as a continuous process of an individual’s assimilation of economic knowledge, norms, values, and behavioral patterns throughout the entire life cycle—from childhood to old age. Using a comparative method, the study identifies and analyzes key institutional strategies: “engagement” (characteristic of the Anglo-Saxon model), “integration” (the Scandinavian-Australian model), and “state regulation” (the Continental European model). The Asian model is separately examined as a synthesis of state management, traditional values, and technological innovations. Particular attention is paid to the development of a comprehensive system of economic socialization in Russia within the context of implementing the state strategy for improving financial literacy. The role of leading universities as methodological centers is analyzed, as well as the specifics of regional projects, notably the comprehensive programs of St. Petersburg, which demonstrate effective cooperation between government structures, the financial sector, academia, and cultural institutions. The analysis reveals systemic challenges facing the Russian system, including regional disparities and the fragmented nature of programs for the adult population. Based on a synthesis of the most effective elements of foreign experience, a hybrid model is proposed, combining state regulation, systemic integration into formal education, and engagement mechanisms based on digital technologies. The conclusion emphasizes the need for further development of an integrated national model that combines strategic coherence with flexibility and adaptability.

Keywords: economic socialization, financial literacy, comparative analysis, educational strategies, state policy.

References:

1. Adekunle I.A., Williams T.O., Maialeh R. et al. Knowledge, attitude or risk? What drives the financial literacy gaps of university staff? Borsa Istanbul Review, 2025, vol. 25, article 101032. DOI: 10.1016/j.bir.2025.10.032
2. Ahamed A.F.M.J., Limbu Y.B. Role of social comparison orientation on financial management behavior in a developing nation: examining the mediating role of financial self-efficacy and the moderating effect of financial socialization. The Bottom Line, 2024, vol. 38, issue 3. DOI: 10.1108/BL-06-2024-0080
3. De Beckker K., Frijns B., Hubers F. et al. The long-term impact of financial literacy on wealth: Evidence from longitudinal data. Economics Letters, 2025, vol. 247, article 112682.
4. Dimaunahan D.S.F., Santiago A.F.B., Eusebio M.C.C. et al. Financial literacy and sustainable planning assessment among Filipino millennials. Acta Psychologica, 2025, vol. 251, article 105334. DOI: 10.1016/j.actpsy.2025.105334
5. Ichim S.-M., Vid A. The critical role of financial literacy in enhancing firm success. Borsa Istanbul Review, 2025, vol. 25, article 101014. DOI: 10.1016/j.bir.2025.10.014
6. İlbasmış M., Altın H., Yılmaz B. Can financial literacy training improve financially responsible behavior? Experimental evidence from Turkish undergraduates. Borsa Istanbul Review, 2025, vol. 25, article 100804. DOI: 10.1016/j.bir.2025.08.004
7. Molin F., Lipsch-Wijnen I., Vandebeek A. et al. Financial literacy programs in school settings: a scoping review. Educational Research Review, 2025, vol. 42, article 100732. DOI: 10.1016/j.edurev.2025.100732
8. Pedersen M., Pérez K. Financial literacy and the impact of central bank communication on consumer inflation expectations. Borsa Istanbul Review, 2025, vol. 25, article 101002. DOI: 10.1016/j.bir.2025.09.002
9. Wu Y. Financial education and patriotic education in Chinese education system. Social and Humanitarian Sciences in the Far East, 2023, vol. 20, no. 4, pp. 121-125. URL: https://www.elibrary.ru/mjumiy  
10. Yurtkur A.K., Kilic Y., Bugan M.F. et al. The impact of financial literacy on financial development: A cross-country analysis. Borsa Istanbul Review, 2025, vol. 25, article 101017.
11. Azheurova M.V. Improving financial literacy of the population: foreign experience. Science and Education, 2023, vol. 6, no. 1, pp. 88-95. (In Russian). URL: https://elibrary.ru/pkharh  
12. Gavrilchenko G.S., Medvedeva Yu.P. Practical experience of developing financial literacy in foreign and Russian studies. Proc. “International psychological and pedagogical readings in memory of L.V. Yablokova”. Krasnoyarsk, Krasnoyarsk State Pedagogical University named after V.P. Astafiev Puvl., 2020, pp. 134-137. (In Russian). URL: https://elibrary.ru/ntldzm  
13. Grass T.P., Petrishchev V.I., Romanyuk Y.A. Formation of economic culture and social competencies among high school students in Russia and the USA. Vestnik of Krasnoyarsk State Pedagogical University named after V.P. Astafiev, 2018, no. 4(46), pp. 30-38. (In Russian). https://www.elibrary.ru/vpepiu   
14. Grass T.P., Petrishchev V.I., Filonenko E.V. et al. Comparative characteristics of the process of economic socialization among schoolchildren (based on materials from Russia, Germany and China). Siberian Pedagogical Journal, 2019, no. 3, pp. 131-139. (In Russian). URL: https://www.elibrary.ru/hzekyp  
15. Dyudeeva E.A., Shirobokova E.P. Analysis of foreign experience in improving financial literacy of the population. Vector of the Economy, 2022, no. 1(67). (In Russian). URL: https://elibrary.ru/axocsf   
16. Malenkina T.M., Naydich A.Yu. Assessment of financial literacy of the population: Russian experience and foreign practice. Vestnik of Tver State University. Series: Economics and Management, 2022, no. 1(57), pp. 218-225. (In Russian). URL: https://elibrary.ru/uakdfj  
17. Petrishchev V.I., Grass T.P. Economic socialization of younger generations: a cross-cultural analysis (based on materials from Russia and foreign countries). Saint Petersburg, Saint Petersburg State University of Civil Aviation Publ., 2020. 180 p. URL: https://www.elibrary.ru/rlmgoc  
18. Petrishchev V.I., Grass T.P., Krasheninnikova A.E. Organization of the process of professional socialization of younger generations in Canada and New Zealand. Siberian Pedagogical Journal, 2022, no. 2, pp. 119-129. (In Russian). URL: https://www.elibrary.ru/shfjix  

For citation:  Gushchina I.A., Trapitsyn S.Yu., Yakovleva T.V., Litvina K.Ya. Comparative analysis of best practices in economic socialization: foreign and Russian experience. CITISE, 2025, no. 4, pp. 310-326.