Anna S. Lasukova
Consumers Behavioral Imbalances of Financial Services in Ukraine
(original language – Ukrainian)
https://doi.org/10.21272/mer.2018.81.09
The article deals with the behavioral finance, which is one of behavioral economics aspect. Author observes retrospective analysis of the main foreign scientists’ studies. Main directions and approaches related to the financial services consumers behavior studying are identified. Among such are key are the level of financial awareness or literacy, the level of confidence in the financial system, the amount of savings and the system of financial assets accumulation, the level of consumers activity in the stock market and etc. The article summarizes the range of basic problems that are inherent in behavioral finance in the context of the consumer. A portrait of the Ukrainian consumer of financial services has been identified and analyzed. In particular, a study of Ukrainian financial literacy was made and shows that it is still low. The structure of incomes and living conditions of the households in Ukraine is analyzed. The structure and volumes of resources in the context of households, as well as the structure and volumes of total household expenditure, are considered. Level of confidence in the banks among the population of Ukraine is observed by author. The volume and structure of loans, debts and savings of individuals was determined, and the state of the non-cash settlements market was analyzed. This allowed to summarize information about the willingness of potential consumers to make decisions about the consumption of financial services in a balanced and impulsive manner; justify the priorities of keeping funds among domestic consumers; determine the impact of the quality of life on the financial institutions decision to consume the services. The results of the study point to a strong connection and influence of behavioral finance on the stability and sustainability of the entire financial system development, as well as the necessity to take into account the behavioral aspects of financial services consumers on all levels of its management.
Key words: behavior, behavioral economics, consumer, financial service, financial system.
Placed in №3, 2018.
Affiliations: ANNA S. LASUKOVA, C.Sc. (Economics), Senior Lecturer, Department of Economics, Department of Finance, Banking and Insurance, Education and Research Institute for Business Technologies «UAB», Sumy State University
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