FINANCIAL INCLUSION IN UKRAINE: DETERMINANTS AND EVALUATION
The low level of coverage of the population by banking services is one of the relevant problem for the Ukrainian banking system and for the economy as a whole. The economic growth, the well-being of the population and the social climate in society depend from the ability of the population to the us...
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| Format: | Article |
| Language: | English |
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FINTECH Alliance LLC
2021-01-01
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| Series: | Фінансово-кредитна діяльність: проблеми теорії та практики |
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| Online Access: | https://fkd.net.ua/index.php/fkd/article/view/3012 |
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| author | L. O. Prymostka І. Krasnova O. Prymostka A. Nikitin V. Shevaldina |
| author_facet | L. O. Prymostka І. Krasnova O. Prymostka A. Nikitin V. Shevaldina |
| author_sort | L. O. Prymostka |
| collection | DOAJ |
| description |
The low level of coverage of the population by banking services is one of the relevant problem for the Ukrainian banking system and for the economy as a whole. The economic growth, the well-being of the population and the social climate in society depend from the ability of the population to the use of basic financial services. In the article the definition of financial inclusion of the population is considered and formed. The determinants of supply and demand, which are complemented by the determinants of social responsibility, are studied. This approach, together with the needs and accessibility of basic financial services, combines the protection of consumer rights, the development of proportional surveillance, the promotion of digital technology and the creation of financial literacy programs, taking into account national and sociological characteristics. The author’s proposed vision of the components of financial inclusion is related to well-being, awareness, accessibility, involvement and use. Their economic content, logical consistency and interconnectedness are disclosed. A set of analytical indicators has been formed, quantitatively characterizing them and integrated indexes have been constructed. On the basis of a composite consideration of all indices, a map of financial inclusion was constructed, which clearly shows that the population in Ukraine is not sufficiently oriented in the economy and financial sphere. The reasons for the low interest of the population in the use of banking services, among which the dominant ones are recognized: lack of funds, distrust of banking institutions, unacceptable pricing policy of banks. According to the statistics of the World Bank and the NBU, the coverage of the population of Ukraine with basic financial services is analyzed in comparison with other countries. It is determined that in order to increase the level of financial inclusion, it is necessary to ensure that the basic financial services of those part of the population of the country who do not have access to them are covered.
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| first_indexed | 2024-03-12T05:12:49Z |
| format | Article |
| id | doaj.art-7b35b9cde259491c8253cbbb1b27565b |
| institution | Directory Open Access Journal |
| issn | 2306-4994 2310-8770 |
| language | English |
| last_indexed | 2024-03-12T05:12:49Z |
| publishDate | 2021-01-01 |
| publisher | FINTECH Alliance LLC |
| record_format | Article |
| series | Фінансово-кредитна діяльність: проблеми теорії та практики |
| spelling | doaj.art-7b35b9cde259491c8253cbbb1b27565b2023-09-03T08:26:52ZengFINTECH Alliance LLCФінансово-кредитна діяльність: проблеми теорії та практики2306-49942310-87702021-01-0123310.18371/fcaptp.v2i33.207218FINANCIAL INCLUSION IN UKRAINE: DETERMINANTS AND EVALUATIONL. O. Prymostka0І. Krasnova1O. Prymostka2A. Nikitin3V. Shevaldina4Doctor of Economics, Professor, Kyiv National Economic University named after Vadym HetmanDoctor of Economics, Associate Professor, Kyiv National Economic University named after Vadym HetmanDoctor of Economics, Рrofessor, Kyiv National Economic University named after Vadym HetmanPh. D. in Economics, Associate Professor, Kyiv National Economic University named after Vadym HetmanPh. D. in Economics, Associate Professor, Kyiv National Economic University named after Vadym Hetman The low level of coverage of the population by banking services is one of the relevant problem for the Ukrainian banking system and for the economy as a whole. The economic growth, the well-being of the population and the social climate in society depend from the ability of the population to the use of basic financial services. In the article the definition of financial inclusion of the population is considered and formed. The determinants of supply and demand, which are complemented by the determinants of social responsibility, are studied. This approach, together with the needs and accessibility of basic financial services, combines the protection of consumer rights, the development of proportional surveillance, the promotion of digital technology and the creation of financial literacy programs, taking into account national and sociological characteristics. The author’s proposed vision of the components of financial inclusion is related to well-being, awareness, accessibility, involvement and use. Their economic content, logical consistency and interconnectedness are disclosed. A set of analytical indicators has been formed, quantitatively characterizing them and integrated indexes have been constructed. On the basis of a composite consideration of all indices, a map of financial inclusion was constructed, which clearly shows that the population in Ukraine is not sufficiently oriented in the economy and financial sphere. The reasons for the low interest of the population in the use of banking services, among which the dominant ones are recognized: lack of funds, distrust of banking institutions, unacceptable pricing policy of banks. According to the statistics of the World Bank and the NBU, the coverage of the population of Ukraine with basic financial services is analyzed in comparison with other countries. It is determined that in order to increase the level of financial inclusion, it is necessary to ensure that the basic financial services of those part of the population of the country who do not have access to them are covered. https://fkd.net.ua/index.php/fkd/article/view/3012financial inclusion of the populationinclusion literacywelfareawarenessaccessibilitysnvolvement |
| spellingShingle | L. O. Prymostka І. Krasnova O. Prymostka A. Nikitin V. Shevaldina FINANCIAL INCLUSION IN UKRAINE: DETERMINANTS AND EVALUATION Фінансово-кредитна діяльність: проблеми теорії та практики financial inclusion of the population inclusion literacy welfare awareness accessibility snvolvement |
| title | FINANCIAL INCLUSION IN UKRAINE: DETERMINANTS AND EVALUATION |
| title_full | FINANCIAL INCLUSION IN UKRAINE: DETERMINANTS AND EVALUATION |
| title_fullStr | FINANCIAL INCLUSION IN UKRAINE: DETERMINANTS AND EVALUATION |
| title_full_unstemmed | FINANCIAL INCLUSION IN UKRAINE: DETERMINANTS AND EVALUATION |
| title_short | FINANCIAL INCLUSION IN UKRAINE: DETERMINANTS AND EVALUATION |
| title_sort | financial inclusion in ukraine determinants and evaluation |
| topic | financial inclusion of the population inclusion literacy welfare awareness accessibility snvolvement |
| url | https://fkd.net.ua/index.php/fkd/article/view/3012 |
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