Cultural Determinants of Cross-National Variation in Adolescents’ Financial Literacy: Evidence from PISA 2022

This study examines whether cross-national differences in adolescents’ financial literacy are associated not only with structural economic conditions but also with broader cultural value orientations. Using data from 20 countries and economies participating in the PISA 2022 financial literacy assessment, multilevel models were estimated that incorporated Hofstede’s six cultural dimensions, along with national economic (GDP per capita and GINI) and student-level indicators (socioeconomic status and gender). In the initial model, long-term orientation was positively associated with adolescent students’ achievement in financial literacy. After accounting for these economic and student-level indicators, uncertainty avoidance and indulgence were positively associated with financial literacy outcomes, whereas the association of long-term orientation was attenuated. The findings suggest that cultural indicators are linked to between-country variation in adolescent financial literacy, even when accounting for a broad range of socio-structural factors. By conceptualizing adolescent financial literacy as a developmental social indicator, this study contributes to research on social stratification, inequality, and cross-national differences in early-life economic capability.