Iryna Didenko

Department of Economic Cybernetics, Sumy State University,

Ukraine

i.didenko@uabs.sumdu.edu.ua

ORCID 0000-0003-1934-7031

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

Jolanta Puacz-Olszewska

Faculty of Management, Rzeszow University f Technology,

Poland

j.puacz@prz.edu.pl

ORCID 0000-0002-8034-4502

Serhiy Lyeonov

Department of Economic Cybernetics, Sumy State University,

Ukraine

S.Lieonov@uabs.sumdu.edu.ua

ORCID 0000-0001-8139-0458

Anna Ostrowska-Dankiewicz

Faculty of Management, Rzeszow University f Technology,

Poland

adankiew@prz.edu.pl

ORCID 0000-0002-2131-4522

Zbigniew Ciekanowski

Pope John Paul II State School of Higher Education in Biala Podlaska, Poland

z.ciekanowski@dydaktyka.pswbp.pl

ORCID 0000-0002-0549-894X

Abstract. 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.

Received: May, 2019

1st Revision: December, 2019

Accepted: May, 2020

DOI: 10.14254/2071-8330.2020/13-2/23

JEL Classification: E58, G21, G18, D11

Keywords: financial inclusion, social safety, population, economic development of the country