Problems of measuring country's financial security
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Date
2020
Journal Title
Journal ISSN
Volume Title
Publisher
Centre of Sociological Research in co-operation with University of Szczecin (Poland), Academy of Economic Studies in Bucharest (Romania) and Széchenyi István University (Hungary)
Abstract
The aim is to define the key issues ensuring financial security of a country. The studies proposes a technique to calculate a country's quality management index for a financial as a weighted average of the country's overall compliance with key international standards, rules and principles in the sector. The study uses statistical information from the Consultative Group to Assist the Poor, the World Bank Database and the Organization for Economic Co-operation and Development, to study financial security of the population in 142 countries with different levels of economic development. 47 variables, grouped into 10 aggregates, were included in the study: Disclosure of information upon opening a deposit account, Disclosure of information upon opening a credit account, Disclosure of general information, Periodic disclosure upon opening deposit accounts, Periodic disclosure Monitoring, Enforcing, Fair treatment, Recourses, Standards for complaints resolution. Analysis of the results show that the levels of financial security in the studied countries have a wide variation from the minimum to the maximum values. We see that among the countries with high levels of economic development, the leaders are Italy, Canada and Puerto Rico. Transition economies include Venezuela, Argentina and Mexico; among developing countries, we can mention Armenia, Azerbaijan and Uzbekistan.
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Keywords
SOCIAL SCIENCES::Business and economics::Economics, FORESTRY, AGRICULTURAL SCIENCES and LANDSCAPE PLANNING::Area economics, LAW/JURISPRUDENCE::Financial law, SOCIAL SCIENCES::Business and economics::Human geography, economic geography
Citation
Vasylieva T.A., Jurgilewicz O., Poliakh S.S., Tvaronavičienė M., Hydzik P. Problems of measuring country's financial security. Journal of International Studies. 13 (2), 2020. р. 329-346. DOI: https://doi.org/10.14254/2071-8330.2020/13-2/22 [Scopus, квартиль Q2]