RATIONAL FINANCIAL BEHAVIOR OF POPULATION AS A PROSPERITY FACTOR OF FINANCIAL SECTOR

• Main Author: Sushko E. Yu.
• Format: Article
• Language: Russian
• Published: Novosibirsk State University Press 2014-12-01
• Series: Vestnik Novosibirskogo Gosudarstvennogo Universiteta. Seriâ: Socialʹno-Èkonomičeskie Nauki
• Subjects: финансовая грамотность населения; привлекательность территории для бизнеса; регрессионное моделирование; инвестиционный потенциал региона; financial literacy of population; territory attractiveness for business; regression modeling; investment potential of region
• Online Access: https://nsu.ru/ef/vestnik_ngu_ef/2014_4_8

The rapid sophistication of the Russian financial system inevitably leads not only to the emergence of great opportunities for the development of the financial sector, as expressed in the opening of the new financial institutions or new financial products and services, but also a huge financial risks for companies of this sector, as expressed in the increase of population’s debts and the decline of trust in the financial sector. That is why special tools used in making management decisions about the development of the financial sector in a particular region acquires greater significance. On the basis of statistical data over the Volgograd region the author developed the model of initial attractiveness estimation of an area for business entities, reflecting the level of financial literacy and using the data from open sources of information. The article provides a brief introduction to the development of the methodology: from a theoretical substantiation of the original list of variables for analysis up to determine the regression equation. Obtained regression model can be used by entrepreneurs in case of expansion of their financial business to new areas and by regional governance whose aim is to increase the level of financial literacy.