Development of financial inclusion from the standpoint of ensuring financial stability

Kuznyetsova, Аnzhela; Boiarko, Іryna; Khutorna, Myroslava; Zhezherun, Yuliia

doi:10.21511/pmf.11(1).2022.03

Cited by 34 publications

(21 citation statements)

References 27 publications

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“…The indicators of external debt security were assessed, and the predicted values of individual indices were calculated, taking into account the current state of the economy of Ukraine. Kuznyetsova et al (2022), considering the "Stockholm Principles," indicated the importance of researching the impact of individual macroeconomic and financial risks in the economy of Ukraine on the level of debt security. In addition, the procedure for forecasting the public debt of Ukraine using the ARIMA model was illustrated.…”

Section: Literature Reviewmentioning

confidence: 99%

The public debt of Ukraine in the economic development policy in the war and post-war periods: Bibliometric analysis

Filatova

Voytov

Polishchuk

et al. 2023

Public and Municipal Finance

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Public debt can attract funds to finance public needs and stabilize the country’s economic development. This study aims to analyze the relationship between public debt and economic development considering the war actions in Ukraine. This paper uses bibliometric analysis, comprising in-built Scopus and WoS instruments, VosViewer, and Google Trends tools. The overall results show the close relationship between public debt, economic development, and war (armed conflict) concepts. The publications were examined according to key features: containing the keywords from the green and red clusters; covering the period 2015–2018 and 2022; and discussing public debt in Central and South-Eastern Europe. This improved the theoretical and methodological approach to the bibliometric analysis of public debt. Moreover, the study identified risks (based on selected scientific publications) to which the primary attention should be paid during the war and post-war periods in Ukraine: currency and demographic risks. Key recommendations were provided to ensure debt security during the war and post-war periods. However, the given recommendations should be implemented within the framework of the Recovery Plan of Ukraine, which would improve the credit rating and reliability of the state.

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Section: Literature Reviewmentioning

confidence: 99%

The public debt of Ukraine in the economic development policy in the war and post-war periods: Bibliometric analysis

Filatova

Voytov

Polishchuk

et al. 2023

Public and Municipal Finance

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“…The authors Аngela Kuznyetsova, Іryna Boiarko, Мyroslava Khutorna and Yuliia Zhezherun (2022) [18] investigated the peculiarities of the development of financial inclusion cross-country analysis taking into account different models of the financial system and economy levels of development. It was established that the weaknesses of financial inclusion in Ukraine are a seven-fold gap between the assets of banks and non-bank financial institutions and 37% adult population without banking services.…”

Section: Literature Reviewmentioning

confidence: 99%

Cluster Approach in Assessing the Pre-War Level of Financial Inclusion of Population From Different Regions of Ukraine in the Market of Bank Loan

Mayorova¹,

Тимошенко²,

Urvantseva³

et al. 2023

ФКДПТП

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The problem of financial inclusion of the population is relevant in developing countries, including Ukraine. Analysis of the state of financial inclusion demonstrated a fairly low level of financial services provided to Ukrainians. The purpose of the article is to assess the level of financial inclusion of households in the regions of Ukraine in the market of bank loans in the pre-war period using cluster analysis tools and justify the possibility of their application for the formation of an effective state-regional policy for the restoration and development of the affected territories, in particular, in the context of ensuring access to bank loans. Cluster analysis was the methodological tool of the study. An algorithm of clustering of regions of Ukraine by the level of financial inclusion of the population in the market of bank loans was designed, taking into account such indicators as the number of bank branches, amount of a loan for one person, interest rates on loans to individuals in the regions. As a result of cluster analysis, four clusters were formed with low, middle, high and advanced-level regions by the level of financial inclusion of the population in the market of bank loans. Most Ukrainian regions (15) were determined as having a low level of access to the market of bank loans. This made it possible to conclude that these regions need special attention from the central and local authorities, as well as from financial institutions in terms of facilitation of public access to banking services. The need to strengthen the financial inclusion of the population in Ukraine during martial law and in the post-war period, taking into account the needs of de-occupied and front-line territories, as well as regions with a large number of internally displaced persons, is substantiated.

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“…Digitalization not only helps to overcome the information asymmetry between businesses and investors (Pedchenko et al, 2018) but also stimulates the development of SMEs in other business aspects. For example, the digitalization of banking services (Pham et al, 2022;Kuznyetsova et al, 2022), the insurance market (Polinkevych et al, 2021), and the chatbots (Jansom et al, 2022) became significantly more developed during the COVID-19 pandemic.…”

Section: Literature Reviewmentioning

confidence: 99%

State support for the digitalization of SMEs in European countries

Strilets

Фролов

Datsenko

et al. 2022

Problems and Perspectives in Management

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COVID-19 and Russia’s war against Ukraine have created many challenges for the business models of SMEs, stimulating them to develop alternative forms of business. Among the key alternatives, one should single out digitization. However, imperfections of Ukraine’s state support system for digital transformation necessitate adapting the positive practice of leading countries with excellent business digitalization. Therefore, this paper structures the practical experience of state support of European countries in the digitalization of SMEs. The study conducts a cluster analysis to identify countries whose experience in state support for business digitalization is the best for adoption. Clustering employed the criterion of using key digitization instruments: internet of things, integration of business processes into electronic processes, digital integration with customers/suppliers, cloud services, big data analysis, and artificial intelligence. Thus, 4 clusters were identified (the first cluster comprises 16 countries, the second – 2, the third – 5, and the fourth – 7). These findings contributed to the selection of some key measures. They included: expanding the financial capabilities of SMEs to adopt digital technologies in their processes; formation of digital hard skills among entrepreneurs and increasing the personnel potential of SME digitization; creation of a favorable business environment to stimulate the digital activity of SMEs; and popularization of business digitalization strategy as a component of digital transformation strategy in society.

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Development of financial inclusion from the standpoint of ensuring financial stability

Cited by 34 publications

References 27 publications

The public debt of Ukraine in the economic development policy in the war and post-war periods: Bibliometric analysis

The public debt of Ukraine in the economic development policy in the war and post-war periods: Bibliometric analysis

Cluster Approach in Assessing the Pre-War Level of Financial Inclusion of Population From Different Regions of Ukraine in the Market of Bank Loan

State support for the digitalization of SMEs in European countries

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