Serhiy Poliakh
The consumer protection as a driver of innovative development: case study for consumers of financial services
today clear understanding concept financial accessibility necessary condition sustainable poverty reduction innovation economic growthhowever relationship financial availability traditional financial sector ensure stability integrity protection consumers financial services sufficiently studied considered single contextthis situation began corrected acquired special urgency postcrisis period study problem could help understand causes onset financial structural changesthe purpose paper research nature implicit connections level protection consumers interests financial services market drivers innovation development country three conditional sectors general economic status public administration financial stabilitythe basis study statistical information imf cgap world bank financial access 2010 database global findex database g20 financial inclusion indicators world bank database oecdinfe adult financial literacy time 2010 95 countries different levels economic developmentthe system simultaneous structural equations used method calculations31 indicators selected formalizing implicit structural links four contingent sectors general economic condition countries public administration financial stability countries level protection interests consumers financial services market among 12 major components selected method main analysis included analysisthe formalization relationships latent variables introduced study allowed following conclusion increase level protection interests consumers financial services market level public administration general economic state growingthus confirmed thesis level consumer protection case consumer financial services market fulfills role locomotive innovative development country whole