Socio-Psychological Determinants of Economic Socialization Among Youth Living in Georgia

Abstract

The present study aims to analyze the socio-psychological factors determining economic socialization among young people living in Georgia. The research is based on a quantitative methodology and includes data from 528 respondents. The sample consists of university students as well as economically active individuals up to the age of 40.

The study examines the main components of economic socialization and their interrelationships, including economic knowledge, financial skills, economic values, economic self-efficacy, psychological flexibility, and locus of control.

Statistical data analysis was conducted using the IBM SPSS Statistics software package. Descriptive statistics, Pearson correlation analysis, and multiple regression analysis were employed.

The results indicate that economic socialization is significantly associated with financial competencies, economic self-efficacy, and individuals' psychological resources. A particularly strong relationship was found between financial skills and financial independence, highlighting the critical role of economic competencies in shaping individual economic autonomy and behavior.