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Open AccessArticle

Social and Financial Inclusion through Nonbanking Institutions: A Model for Rural Romania

1
Rattanakosin International College of Creative Entrepreneurship, Rajamangala University of Technology Rattanakosin, Nakon Patom 73170, Thailand
2
School of Sciences, European University Cyprus, Nicosia 1516, Cyprus
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Research Institute of Big Data and Artificial Intelligence, Southwest Forestry University, Kunming 650224, China
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CIICESI, School of Management and Technology, Porto Polytechnic, 4610-156 Felgueiras, Portugal
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Business School, La Trobe University Sydney Campus, Sydney 2000, Australia
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Romanian Academy, Center for Financial and Monetary Research—Victor Slăvescu, 050711 Bucharest, Romania
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Romanian-American University, 012101 Bucharest, Romania
*
Author to whom correspondence should be addressed.
J. Risk Financial Manag. 2019, 12(4), 166; https://doi.org/10.3390/jrfm12040166
Received: 19 September 2019 / Revised: 25 October 2019 / Accepted: 26 October 2019 / Published: 29 October 2019
(This article belongs to the Special Issue AI and Financial Markets)
The challenges of financial systems have immediate or medium-term social effects. The financial industry is constantly searching for measures to reduce these challenges, especially for those with little or no access to financial services. While current communication technologies make services more accessible through digital mobile platforms, there are still difficulties in establishing viable customer arrangements. In addition to the increased investment in financial technologies, nonbanking financial institutions have now expanded to offer more flexible services tailored to individual circumstances, especially those in isolated rural areas. This research outlines the network model of nonbanking financial institutions in Romania, as well as a microfinance model, based on the financial analysis of four national indicators of nonbanking financial institutions. Data used are presented in absolute values, from the annual numerical series for the reference period 2007–2017. The new initiatives and features incorporated in this Romanian model should be applicable elsewhere and will actively contribute to the expansion and sustainability of financial services, with a positive inclusive impact on society. View Full-Text
Keywords: community finances; fiscal flexibility; individualized financial arrangements; sustainable financial services community finances; fiscal flexibility; individualized financial arrangements; sustainable financial services
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MDPI and ACS Style

Yue, X.-G.; Cao, Y.; Duarte, N.; Shao, X.-F.; Manta, O. Social and Financial Inclusion through Nonbanking Institutions: A Model for Rural Romania. J. Risk Financial Manag. 2019, 12, 166. https://doi.org/10.3390/jrfm12040166

AMA Style

Yue X-G, Cao Y, Duarte N, Shao X-F, Manta O. Social and Financial Inclusion through Nonbanking Institutions: A Model for Rural Romania. Journal of Risk and Financial Management. 2019; 12(4):166. https://doi.org/10.3390/jrfm12040166

Chicago/Turabian Style

Yue, Xiao-Guang; Cao, Yong; Duarte, Nelson; Shao, Xue-Feng; Manta, Otilia. 2019. "Social and Financial Inclusion through Nonbanking Institutions: A Model for Rural Romania" J. Risk Financial Manag. 12, no. 4: 166. https://doi.org/10.3390/jrfm12040166

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