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Modern Vector of Development of Pawnshops in Ukraine
Nedilska L. V., Marchenko D. A.

Nedilska, Larysa V., and Marchenko, Daryna A. (2021) “Modern Vector of Development of Pawnshops in Ukraine.” Business Inform 7:222–228.
https://doi.org/10.32983/2222-4459-2021-7-222-228

Section: Finance, Money Circulation and Credit

UDC 336.734

Abstract:
The article is aimed at establishing a modern vector of development of pawnshops in Ukraine. The current state of the pawnshop loans market is analyzed and its detailed analysis is carried out from the point of view of opportunities and threats at the macrolevel and strengths and weaknesses at the microlevel. In the course of a SWOT analysis of the state of the pawnshop loans market, the relative balance of prospects and challenges of economic, social and political nature, which have an impact on the functioning of pawnshops, is determined. The hypothesis about the significant impact on the development of pawnshops in Ukraine such factors as the solvency of the population and the volume of economic development (in terms of GDP per capita) is put forward. A regressive model of development of the pawnshop lending market is formed, the economic interpretation of which is the possibility of increasing the volume of issued pawnshop loans with an increase in the volume of average monthly incomes of citizens, and their reduction is possible with an increase in the unemployment rate in Ukraine and a build-up in the level of GDP per capita. It is assumed that the results of the model reflect a critical limit of the cumulative impact of selected socio-economic factors, when low incomes of the population with high unemployment and slow GDP growth cause an unconventional effect – a reduction in the volume of the short-term lending market, characterized by the effect of behavioral finances, when it is more important for borrowers to avoid unjustified costs than to receive short-term benefits. It is emphasized that the possibilities of development of pawnshops are concentrated in the vector of their qualitative renewal: the formation of a legislative basis for self-regulation of the market, deepening of work to improve financial literacy of the population, in particular, public awareness of the risks of obtaining loans in pawnshops.

Keywords: pawnshops, financial institutions, short-term loans, collateral, interest rates.

Fig.: 1. Tabl.: 4. Bibl.: 12.

Nedilska Larysa V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance and Credit, Polissia National University (7 Staryi Blvd, Zhytomyr, 10008, Ukraine)
Email: [email protected]
Marchenko Daryna A. – Masters Student, Polissia National University (7 Staryi Blvd, Zhytomyr, 10008, Ukraine)
Email: [email protected]

List of references in article

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“Bila knyha «Maibutnie rehuliuvannia diialnosti lombardiv»“ [White Paper "Future Regulation of Pawnshops"]. NBU. Kyiv, 2020. https://bank.gov.ua/admin_uploads/article/White_paper_lombard_2020.pdf?v=4
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Kalivoshko, O. “Strukturna kharakterystyka lombardiv yak infrastrukturnoi odynytsi finansovo-kredytnoho rynku“ [Structural Characteristics of Pawnships as an Infrastructural Unit of the Financial and Credit Market]. Formuvannia rynkovoi ekonomiky v Ukraini, no. 42 (2019): 61-71. DOI: http://dx.doi.org/10.30970/meu.2019.42.0.2939
Kozachenko, H., Zavora, T., and Shapoval, L. “Instrumentarii vyznachennia vplyvu sotsialnoi bezpeky na rozvytok lombardnoi diialnosti Ukrainy“ [Tools for Determining Social Security Impact on the Development of Pawnshop Activity of Ukraine]. Instytut bukhhalterskoho obliku, kontrol ta analiz v umovakh hlobalizatsii, no. 3-4 (2019): 120-132. DOI: https://doi.org/10.35774/ibo2019.03.120
Levaieva, L. Yu. “Investytsiina stratehiia rozvytku lombardiv“ [The Investment Strategy of the Lombards Development]. Ekonomichnyi visnyk universytetu, vol. 1, no. 37 (2018): 226-236.
Parkhomenko, Ye. Yu. “Instytutsiinyi status lombardiv ta yoho vplyv na audyt finansovoi zvitnosti“ [The Institutional Status of Pawnshops and its Impact on the Audit of Financial Reporting]. Biznes Inform. 2018. https://www.business-inform.net/export_pdf/business-inform-2018-5_0-pages-377_383.pdf
[Legal Act of Ukraine] (2005). https://zakon.rada.gov.ua/laws/show/z0565-05#Text
Radchenko, N. H., and Shchevelieva, O. V. “Lombard - realii syohodennia“ [Pawnshop - The Realities of Today]. Sotsialno-ekonomichni problemy rozvytku biznesu ta mistsevoho samovriaduvannia. 2019. http://elar.tsatu.edu.ua/handle/123456789/8170

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