BEHAVIORAL FACTORS OF THE FINANCIAL SECTOR INFLUENCE ON THE COUNTRY’S ECONOMY DEVELOPMENT
Journal Title: Наукові праці. Серія "Економіка" - Year 2017, Vol 296, Issue 284
Abstract
Foreign economists’ research showed that now the development of the financial sector restrains growth of the economy in developed countries. In Ukraine the situation is similar; the financial sector has a one-sided development. Today consumer crediting is actively developing. A lot of credit organizations have been opened. The population takes a lot of short-term loans because it has little money to pay current expenses. Our research showed that the popu-lation has no real reason to take credits in such amount. A large demand for consumer loans is artificially created. This demand is based on a simple financial illiteracy of the most population and human psychology that the behav-ioral economy explains it. The existing one-sided development of the Ukrainian financial sector is wrong for the country’s economy. Today it is important to conduct educational work among the population to increase its financial literacy. This will allow us to direct behavioral factors towards the development of the country’s economy real sector.
Authors and Affiliations
L. A. Yevchuk
Keywords
Related Articles
- EP ID EP396978
- DOI -
- Views 111
- Downloads 0
SYSTEMATIZATION OF METHODS OF DETERMINING THE FINANCIAL STABILITY OF THE BANKING SYSTEM OF UKRAINE
This article explores current approaches to assessing the financial stability of commercial banks. Considered for-eign and national systems methodology for determining the financial stability of commercial banks and the...
BEHAVIORAL FACTORS OF THE FINANCIAL SECTOR INFLUENCE ON THE COUNTRY’S ECONOMY DEVELOPMENT
Foreign economists’ research showed that now the development of the financial sector restrains growth of the economy in developed countries. In Ukraine the situation is similar; the financial sector has a one-sided devel...
SOCIAL STRATIFICATION AND MODERNIZATION OF THE ECONOMY
In the paper the role of social stratification in economic modernization provision is determined. The basic approaches to social stratification are defined – by the income level, by the level of qualification and educati...
INNOVATIVE MANAGEMENT & INNOVATIVE LEADERSHIP IN FORMATION OF THE KNOWLEDGE ECONOMY: ESSENCE, PERSPECTIVES
The questions devoted to the problem of the knowledge economy formation are considered. It is substantiated that the transition to a new qualitative state is directly related to the increasing role of theoretical knowled...
FISCAL POLICY TOOLS IN THE CONTEXT OF THE UKRAINIAN CRISIS MANAGEMENT
The essence and content of crisis management are considered in the article. The coordination necessity of all eco-nomic policy state components, including financial ones, is substantiated. The effect of fiscal policy ins...