Drivers and Stoppers of Inclusive Development of Financial Services and Products in Modern Russia

Abstract

Currently, the services and products of leading financial and credit organizations demonstrate asymmetry in the context of the target audience, range of services, their cost, quality, and technology for companies and individuals. In such conditions, the formation of a systematic approach to identifying drivers and stoppers of inclusive development of the Russian market of financial services and products is highly relevant. The inclusive development of financial services and products refers to their production and provision with real access for all groups of the population and their consumption that is individually effective and socially useful. The empirical basis of the study was the main indicators characterizing the current state of inclusiveness of financial services and products in modern Russia. The authors identified the main problems of the production, provision, and consumption of financial services and products by Russians and determined the directions of their inclusive development by applying the six-factor meta-production function of O. V. Inshakov (Inshakov in Economics of Contemporary Russia 1, 11–25, 2003).