Consumer lending vs ludomania: From resilience to social responsibility in the case of Ukraine
The main idea of the article lies in seeking a balance between the interests of the state, citizens - microcredit borrowers, non-banking financial institutions, and gambling entities (this is exemplified through relationships where low-income citizens use consumer credits for gambling). Unwise deci...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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IEECA
2024-04-01
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| Series: | Journal of Eastern European and Central Asian Research |
| Subjects: | |
| Online Access: | https://www.ieeca.org/journal/index.php/JEECAR/article/view/1564 |
| _version_ | 1797220366847836160 |
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| author | Tetiana Hudima Volodymyr Ustymenko Ruslan Dzhabrailov Anton Soshnykov Mykhailo Shmyhov |
| author_facet | Tetiana Hudima Volodymyr Ustymenko Ruslan Dzhabrailov Anton Soshnykov Mykhailo Shmyhov |
| author_sort | Tetiana Hudima |
| collection | DOAJ |
| description |
The main idea of the article lies in seeking a balance between the interests of the state, citizens - microcredit borrowers, non-banking financial institutions, and gambling entities (this is exemplified through relationships where low-income citizens use consumer credits for gambling). Unwise decisions by any of these participants regarding consumer credits and their use for gambling pose risks to both financial and social security in society. The issue of rationalizing the purpose of consumer credits, particularly in the context of military factors, when both the state and citizens are highly vulnerable, gains particular significance. In pursuit of the aim to identify an effective strategy to counter their (credits) use in citizen-risk operations, such as gambling, the article provides reasoned proposals for enhancing legal regulation of these relationships in Ukraine. Furthermore, the conceptual component of the article is reinforced by emphasizing the significant role of the concept of socially responsible business, which serves as a guarantee for achieving a positive social impact and minimizing predatory treatment of citizens in the microcredit sector. The research offers measures to prevent the misuse of microcredits and underscores the importance of achieving a balance between state and private interests in this field.
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| first_indexed | 2024-04-24T12:48:24Z |
| format | Article |
| id | doaj.art-e03ccb3de4fc4ca3a57a45a3e617177e |
| institution | Directory Open Access Journal |
| issn | 2328-8272 2328-8280 |
| language | English |
| last_indexed | 2024-04-24T12:48:24Z |
| publishDate | 2024-04-01 |
| publisher | IEECA |
| record_format | Article |
| series | Journal of Eastern European and Central Asian Research |
| spelling | doaj.art-e03ccb3de4fc4ca3a57a45a3e617177e2024-04-06T22:27:26ZengIEECAJournal of Eastern European and Central Asian Research2328-82722328-82802024-04-0111210.15549/jeecar.v11i2.1564Consumer lending vs ludomania: From resilience to social responsibility in the case of UkraineTetiana Hudima0https://orcid.org/0000-0003-1509-5180Volodymyr Ustymenko1Ruslan Dzhabrailov2https://orcid.org/0000-0002-4422-2102Anton Soshnykov3https://orcid.org/0000-0003-4998-9713Mykhailo Shmyhov4State Organization “V. Mamutov Institute of Economic and Legal Research of the National Academy of Sciences of Ukraine”State Organization «V. Mamutov Institute of Economic and Legal Research of NAS of Ukraine»State Organization «V. Mamutov Institute of Economic and Legal Research of NAS of Ukraine»State Organization «V. Mamutov Institute of Economic and Legal Research of NAS of Ukraine»State Organization «V. Mamutov Institute of Economic and Legal Research of NAS of Ukraine» The main idea of the article lies in seeking a balance between the interests of the state, citizens - microcredit borrowers, non-banking financial institutions, and gambling entities (this is exemplified through relationships where low-income citizens use consumer credits for gambling). Unwise decisions by any of these participants regarding consumer credits and their use for gambling pose risks to both financial and social security in society. The issue of rationalizing the purpose of consumer credits, particularly in the context of military factors, when both the state and citizens are highly vulnerable, gains particular significance. In pursuit of the aim to identify an effective strategy to counter their (credits) use in citizen-risk operations, such as gambling, the article provides reasoned proposals for enhancing legal regulation of these relationships in Ukraine. Furthermore, the conceptual component of the article is reinforced by emphasizing the significant role of the concept of socially responsible business, which serves as a guarantee for achieving a positive social impact and minimizing predatory treatment of citizens in the microcredit sector. The research offers measures to prevent the misuse of microcredits and underscores the importance of achieving a balance between state and private interests in this field. https://www.ieeca.org/journal/index.php/JEECAR/article/view/1564consumer lendingprotection of consumer rightslow-income citizensnon-bank financial institutionssocially responsible businessresilience |
| spellingShingle | Tetiana Hudima Volodymyr Ustymenko Ruslan Dzhabrailov Anton Soshnykov Mykhailo Shmyhov Consumer lending vs ludomania: From resilience to social responsibility in the case of Ukraine Journal of Eastern European and Central Asian Research consumer lending protection of consumer rights low-income citizens non-bank financial institutions socially responsible business resilience |
| title | Consumer lending vs ludomania: From resilience to social responsibility in the case of Ukraine |
| title_full | Consumer lending vs ludomania: From resilience to social responsibility in the case of Ukraine |
| title_fullStr | Consumer lending vs ludomania: From resilience to social responsibility in the case of Ukraine |
| title_full_unstemmed | Consumer lending vs ludomania: From resilience to social responsibility in the case of Ukraine |
| title_short | Consumer lending vs ludomania: From resilience to social responsibility in the case of Ukraine |
| title_sort | consumer lending vs ludomania from resilience to social responsibility in the case of ukraine |
| topic | consumer lending protection of consumer rights low-income citizens non-bank financial institutions socially responsible business resilience |
| url | https://www.ieeca.org/journal/index.php/JEECAR/article/view/1564 |
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