THE CREDIT STRATEGIES OF THE RUSSIANS AS THE REFLECTION OF THE MODEL OF FINANCIAL BEHAVIOUR

Topic. The article is devoted to the analysis of financial behaviour the Russians and the formation of strategies of credit behaviour of the Russian population.

Purpose. Our purpose was: identification of the factors influencing the formation of financial behaviour of the population of Russia, determination of the role of credit services in the development of our country and its regions; clarification of the phase of the current state of consumer crediting; assessment of the current situation in the market of crediting of private individuals taking into account peculiarities of their strategies; generalization of the experience of the lending market by using a credit card; presentation of a typology of population’s credit behavior; determination of the shortcomings of modern monetary and credit practices on the basis of credit behaviour of Russians.

Methodology. We use following methods: content-analysis, sociological methods (in-depth structured interviews), methods of expert evaluation, classification, and taxonomy.

Results. The authors highlighted the most important aspects, the relationships, and trends of financial behavior of the Russians. Compiled data are considered as factors of formation and study of models of financial behavior. Taking into account the functions of the loan, we describe the characteristics and types of credit instruments, the role of credit services in the development of territories (whole country and regions). The authors study of consumer lending and determine the phase of its modern state. We assess the current situation in the market of consumers’ crediting taking into account their specific socio-income groups. Next, we classify the consumer credit services and present a typology of consumers’ credit behavior. We ground the factors of choice of models of borrowers’ behavior and identify the ‘gaps’ of modern financial and credit practices and generalize the experience of bank’s lending on the example the most common product—credit card.

Conclusions. The authors propose ways to prevent possible negative processes in the credit market of Russia: financial education programs; improvement of the legislative base aimed at protection of the borrowers’ rights; an increase of consumers’ confidence in the financial (particularly the banking) system; the growth of living standards; state policy aimed at the sustainable socio-economic development of the country.

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