Innovation science and technologiy 2-том 8-нөмір (2026) · 15-24-беттер
IMPROVING THE INVESTMENT BEHAVIOUR OF THE POPULATION OF UZBEKISTAN THROUGH ENHANCED FINANCIAL LITERACY
Karimova, Nurjahon
Аңдатпа
The role of financial literacy in improving the investment behaviour of the population of the Republic of Uzbekistanand reducing behavioural errors among stock market participants is examined. Major cognitive and emotional biases,including overconfidence, herd behaviour, loss aversion, the disposition effect, anchoring, and mental accounting, areanalysed. Based on a comparative analysis of international and domestic studies, as well as official statistical data fromthe Central Bank of the Republic of Uzbekistan, the Republican Stock Exchange “Toshkent”, and international financialinstitutions, a structural imbalance is identified between the rapid expansion of digital access to financial services and theinsufficient level of investment-specific financial literacy among the population. The findings indicate that general financialliteracy does not necessarily ensure rational investment decision-making unless it is reinforced by practical competenciesin risk assessment, investment portfolio diversification, and the critical evaluation of financial information
financial literacy, investment behaviour, stock market, behavioural finance, behavioural biases, overconfidence, herd behaviour, loss aversion, retail investors, capital market, Uzbekistan.
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