Social safety and behavioral aspects of populations financial inclusion: A multicountry analysis

Title: Social safety and behavioral aspects of populations financial inclusion: A multicountry analysis
Issue: Vol. 13, No 2, 2020
Published date: 06-2020 (print) / 06-2020 (online)
Journal: Journal of International Studies
ISSN: 2071-8330, eISSN: 2306-3483
Authors: Iryna Didenko
Sumy State University

Jolanta Paucz-Olszewska
Rzeszow University f Technology

Serhiy Lyeonov
Sumy State University

Anna Ostrowska-Dankiewicz
Rzeszow University f Technology

Zbigniew Ciekanowski
Pope John Paul II State School of Higher Education in Biala Podlaska
Keywords: financial inclusion, social safety, population, economic development of the country
DOI: 10.14254/2071-8330.2020/13-2/23
Language: English
Pages: 347-359 (13)
JEL classification: E58, G21, G18, D11
The survey was supported by the Ministry of Education and Science of Ukraine and performed the results of the projects 0118U003569 and 0120U102001.

This article aims to investigate the connection between behavioral aspects of populations financial inclusion and the level of social safety. The study was conducted in several stages: collecting the necessary input, determining The Index of socio-safety, selecting the most relevant factors that characterize the behavioral aspects of financial inclusion, determining the functional relationships between The Index of socio-safety and indicators describing critical behavioral issues of financial inclusion. The study involved 26 countries with different levels of economic development, and 18 indicators (10 characterized the behavioral aspects of financial involvement of the population, 8 - the world vectors of social safety). The Index of socio-safety was obtained with the help of PCA. Russian Federation and South Africa have the highest level of The Index among the studied countries. The lowest level of the calculated indicator is in Mozambique and Burkina Faso. Correlation and regression analysis revealed a statistically significant relationship between The Index of socio-safety and an increasing number of ATMs per 100,000 adults, usage of the internet to pay bills or to buy something online and increase the percentage of respondents who report having a credit card.


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