Развитие финансовой инклюзивности сельскохозяйственных товаропроизводителей

Abstract

The limited involvement of firms in financial markets and a rather low level of financial literacy and absence of high-quality use of financial services are currently recognized as a fundamental issue. Recent research confirms that economic prosperity, sustainable development and poverty reduction are determined by the increased availability and use of financial services. All these circumstances have led to the emergence of another long-term trend in the financial sector which we define the concept of financial inclusion. Modern vectors of financial system development (emergence of new financial instruments, spread of new business models in the financial market, artificial intelligence, development and implementation of digitalization strategy) trigger discussions on the essence and content of financial inclusion. The article provides an overview of its available interpretations, and it is concluded that the theoretical basis of the research has not been developed properly. The presented literature review of approaches to financial inclusion definition makes it possible to show its main attributes: financial products and services, characteristics, quality, channels, conditions for obtaining a basic set of financial services. The main conclusions of the author prove that the mentioned aspects are met by the existing and functioning financial and credit infrastructure in agriculture, but with the peculiarities connected with the specifics of the industry. The article attempts to study the possibilities of such an infrastructure from the perspective of financial inclusion. Some indicators characterizing the infrastructure for provision of financial services in the southern regions presented in the article confirm the potential and opportunities for the development of financial inclusion of agricultural producers. Additionally, the author substantiates the issue of physical availability of this infrastructure, since it is difficult to assess the financial inclusiveness of agricultural producers from the standpoint of its parameters due to the specifics of agricultural production and the influence of various factors on the activities of a particular firm. The following directions are identified as possible ones for the development of financial inclusion of agricultural producers: expansion of budget support, implementation of public private partnership projects, increase of financial literacy, development strategies, development of government programs and projects, and active use of digitalization opportunities.