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Financial Inclusion in the Context of Sustainable Development of Rural Areas

Author

Listed:
  • Abramova Iryna

    (Assoc. Prof. Dr. Polissia National University, Old Boulevard 7, Zhytomyr, Zhytomyr region, 10008, Ukraine . Phone No. +380968766380.)

  • Nedilska Larysa

    (Assoc. Prof. Dr. Polissia National University, Old Boulevard 7, Zhytomyr, Zhytomyr region, 10008, Ukraine .)

  • Kurovska Nataliia

    (Assoc. Prof. Dr. Polissia National University, Old Boulevard 7, Zhytomyr, Zhytomyr region, 10008, Ukraine .)

  • Martynyuk Halyna

    (PhD Polissia National University, Old Boulevard 7, Zhytomyr, Zhytomyr region, 10008, Ukraine .)

Abstract

Financial inclusion is a means to make full use of financial services, which stimulates the introduction of innovation, mobilization of savings and investment support, and thus contributes to the economic development of territories. The purpose of the study is to substantiate scientific and practical approaches to determining the role and place of financial inclusion in sustainable development of rural areas. The state of financial inclusion in rural areas has been assessed having applied the statistical-economic and calculation-constructive methods. The abstract-logical method made it possible to prove the positive impact of financial inclusion on the sustainable development of rural areas and to offer proposals for its further advancement. It has been argued that the key tasks of financial inclusion in the context of sustainable development of rural areas are financial education, access to financial services, and protection of the rights of consumers of financial services.

Suggested Citation

  • Abramova Iryna & Nedilska Larysa & Kurovska Nataliia & Martynyuk Halyna, 2021. "Financial Inclusion in the Context of Sustainable Development of Rural Areas," Management Theory and Studies for Rural Business and Infrastructure Development, Sciendo, vol. 43(3), pages 328-336, September.
    • Handle: RePEc:vrs:mtrbid:v:43:y:2021:i:3:p:328-336:n:9
    DOI: 10.15544/mts.2021.29
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    References listed on IDEAS

    as
    1. Allen, Franklin & Demirguc-Kunt, Asli & Klapper, Leora & Martinez Peria, Maria Soledad, 2016. "The foundations of financial inclusion: Understanding ownership and use of formal accounts," Journal of Financial Intermediation, Elsevier, vol. 27(C), pages 1-30.
    2. Altman, Morris, 2014. "Cooperative organizations as an engine of equitable rural economic development," Working Paper Series 18854, Victoria University of Wellington, School of Economics and Finance.
    3. Ozili, Peterson K, 2020. "Optimal financial inclusion," MPRA Paper 101808, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    financial education; financial inclusion; financial literacy; financial service; payment infrastructure; rural areas; rural development;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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