September 2026 (published: 15.09.2026)
Number 3(66)
UDC 336.7; 336.64
DOI 10.17586/2310-1172-2026-19-3-13-23
Financial culture and the real sector of the economy in their impact
on economic development and financial market stability
Reference for citation: Chernov V.A. Financial culture and the real sector of the economy in their impact on economic development and financial market stability. Scientific journal NRU ITMO. Series «Economics and Environmental Management». 2026. № 3. Р. 13-23. DOI: 10.17586/2310-1172-2026-19-3-13-23.
Abstract. In the context of slowing economic growth and budget deficits, there is a need to find opportunities and ways to increase production growth and stabilize family finances, which is necessary to solve demographic problems, which indicates the relevance of the study. The subject of the research is the relationship between the growth of the real sector of the economy, financial culture and the financial market. The purpose of the research is to find ways to resolve the contradictions between the desire for an increase in the number of financial market participants and the development of the real sector of the economy. The scientific substantiation uses the categories of dialectics, statistical comparisons, and mathematical calculation of broker income and trader losses derived from the function of average market profitability. Scientific novelty. For the first time, the author raises the problem of financial culture in its complex systemic relationship with industrial production, financial literacy, cultural heritage, value orientations and the growth of the financial market. The article considers the role of improving the financial literacy of specialists in non-economic specialties and their relationship with the growth of the financial market, the real sector of the economy as a condition for the growth of the financial market and the strengthening of family finances. Contradictions between them (financial trader or real manufacturer) are revealed. A measure of expansion of financial market participants has been revealed. The concept of financial culture is considered in the interrelation of traditional universal values and financial achievements. In the context of the problem under study, the perniciousness of the denial of the national epic, its moral, cultural, and spiritual semantic content is revealed, which leads to a change in the cultural code and dehumanization. The contradictions between professional development, professional skills and excessive speculation in the financial market are revealed. Recommendations on their resolution are given. The factors underlying changes in inflation, the role of cultural heritage in socio-economic growth, and transaction costs that determine the outcome of market participants are highlighted. The dependence of the dynamics of attracting financial market participants on the inflation rate is reflected. The rise of the real sector of the economy is considered as a necessary condition for increasing the capitalization of companies, the value of financial assets, the growth of stock indices, the financial market, reducing inflation, strengthening the economy, replenishing the family budget and ensuring the political stability of the state.
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Keywords: economic growth factors; inflation; trader, financial market organizers, stock exchanges and brokers, financial literacy, financial culture, financial market stability, measure of the growth in the number of financial speculators, cultural heritage, moral traditions, national epic, cultural code, dehumanization.
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