PECULIARITIES OF CREDIT BEHAVIOUR OF THE POPULATION DURING THE WAR

Abstract

This article focuses on the peculiarities of the credit behaviour of the population during the war. In times of instability, financial issues are particularly acute among the population, which in turn attracts the attention of researchers and the public to address this issue. In the article, the author focuses on the consequences of the impact of the military conflict on the life of the population, the level of optimism and stability of the economic situation, which generally affects the credit behaviour of the population. The features of the credit behaviour of the population in wartime are determined. In particular, credit behaviour is considered as one of the types of financial behaviour of the population aimed at temporary borrowing of external funds to meet personal needs. Credit behaviour in wartime depends on the financial stability of the population. The article shows the relationship between labour employment and credit behaviour of the population, as the number of jobs decreases and the number of job seekers increases. The author notes that declining incomes, unemployment and inflation lead to problems with loan repayment. Late repayment of loans has negative consequences for both credit service providers and borrowers. Indeed, in times of instability, the issue of compliance with previously assumed obligations becomes particularly acute. Economic instability, changes in exchange rates, socio-economic conditions, government policies and personal capabilities of each citizen, and asset impairment can pose a risk to borrowers and lenders. The article presents an analysis of credit behaviour during the war, which allows us to outline the prospects for economic modernisation of Ukraine and improve our understanding of this topic, since the development of practical approaches to understanding credit behaviour will contribute to the development of an effective policy of modernisation of Ukraine, generating new insights into the directions and pace of the dynamics of modernity in general.