MOSAIC: From an area classification system to individual classification

The objective of this article is to examine individual mobility of working couples (n = 3172) with children in Hong Kong from a multilevel perspective. Individual mobility is measured in terms of activity space, as captured by the size of Standard Deviational Ellipses, on a survey date. Multilevel models are used to disentangle effects at the (i) individual, (ii) household and (iii) neighbourhood levels. The fundamental belief is that each individual is under the simultaneous influence of his/her surrounding environment, the family and personal characteristics. Results of the multilevel analysis suggest that most of the variance in individual mobility of working couples with children in Hong Kong was at the individual level (66.8%). The spatial extent of the activity space had less variance at the household level (20.4%) and the neighbourhood level (12.8%). In particular, gender plays an important role in affecting individual mobility. Women with children, particularly those with lower socio-economic status and living in suburban areas, faced more constraints than their male counterparts in accessing opportunities.

Methods. The results are obtained through the use of the following methods: analysis – when studying and processing statistical data and determining the share of exports of financial services from total world service export; synthesis – when identifying essential signs of the impact of the pandemic on demand for financial services; generalization – when determining global trends in the global market of financial services and changes in the practical, legislative environment of Ukraine in the direction of modernizing the regulation of the Ukrainian financial services market. Results. It is determined, that the current stage of evolution of international financial services markets is characterized by the greatest intensification of financial flows. The composition of financial services in accordance with international norms and Ukrainian legislation is defined. It is emphasized that in recent decades, international trade in financial services has significantly intensified, becoming global in nature. The factors of intensification of international trade in financial services, which are becoming global, are determined. It is substantiated that 2020 was in many respects an unprecedented year for financial markets. The lockdowns because of the COVID-19 resulted in an aggressive monetary and fiscal reaction from the Central Bank and governments of developed markets. As a result, in 2020, the economy, production of goods and volume of services provided fell sharply due to the pandemic of the COVID-19 and related restrictions (about 38 countries have applied restrictive measures to trade in services). Financial services, on the contrary, continued to grow. The financial services market has reacted to the restrictions due to the COVID-19 pandemic by moving online rapidly. It is noted that technology in any form has always been the driving force of change, and in these uncertain times it is particularly relevant. The necessity of structuring the major trends of development of the world market of financial services is grounded. Novelty. The factors changing the conditions of functioning of the financial services market under Covid-19 pandemic are identified. Practical value. The authors have systematized the most current technological trends in the development of the global financial services market and changes in the practical, legislative environment of Ukraine in the direction of bringing it into compliance with the EU legislation.

The article is aimed at studying the current state and prospects for the development of the national market of investment financial services. The article describes the market of investment financial services along with subject classification. The activities of intermediaries in the market of investment financial services as of the end of 2008 – 01.04.2022 in Ukraine are analyzed. Diagnostics of the state of development of the market of investment financial services is carried out on the basis of indicators of the authors’ own development, in particular the indicators of market capacity, market indicators, indicators of economic significance of the activities of intermediaries, macroeconomic indicators. A periodization of stages of development of the national market of investment financial services is made. The impact of the global financial and economic crisis of 2008–2010, political instability in 2014, coronavirus crisis of 2020–2021, and the Russian invasion in 2022 on the functioning of intermediaries in the investment financial services market are specified. The activity of foreign investors in the purchase of assets in Ukraine, including the value and number of M&A transactions, is researched. It is prognosticated that the Russian aggression in 2022 may have catastrophic consequences for Ukraine in general and for the investment financial services market in particular, which has long recovered from the negative consequences of previous crisis periods and has not fully come to life from the global financial and economic crisis of 2008–2010. It is concluded that the modern market of investment financial services is not public enough and has significant shortcomings in the coverage of relevant information by regulators – the National Bank of Ukraine and the National Securities and Stock Market Commission. The relevance of creation of statistical databases from regulators of the market of investment financial services is substantiated. The advantages and disadvantages of investing assets of intermediaries in the market of investment financial services in government bonds is identified. Perspective directions of development of the national market of investment financial services are proposed

The economic meaning of the term «financial behavior» has been researched. In this study, financial behavior is considered as a special type of economic behavior that is related to the actions of the population in the financial services market, which involves the mobilization, redistribution and investment of the population’s monetary resources. The classification of financial behavior of the population is considered. It should be classified on the basis of such features as the activity in the financial services market, the type of the result of financial behavior, the source of financial resources, the form of implementation, the instruments used in the financial services markets, the degree of risk, the propensity to innovate, the type of property of financial resources. The factors influencing financial behavior of households are analyzed, and the following types are distinguished: political, demographic, cultural, social, psychological, economic. The features of financial behavior of the population in Ukraine in comparison with other countries are determined. It has been established that the level of penetration of financial services is significantly lower than the world standards: on average, one Ukrainian has only one bank card and one current account in the bank, and the intentions of the population to save and invest are passive in nature. It is established that the greatest determinant of financial behavior, inclusiveness and literacy in Ukraine is the age and property status of financial services consumers. The problems, the solution of which will facilitate the increase of financial behavior of domestic households and their involvement in the financial market of Ukraine, are outlined. The main issues are as follows: 1) The absence of financial traditions and positive practices in financial activity in Ukraine, which is due to past historical development of the state; 2) Insufficient development of the financial market in terms of working with a private investor and limited supply of financial services to such clients; 3) Absence of the Institute of financial advisers; 4) The scope of application of compensatory mechanisms in the financial market; 5) Lack of effective tax incentives for citizen investments; 6) Low level of public confidence in financial intermediaries; 7) Disadvantages of providing market participants with the necessary financial information; 8) Low level of financial literacy of the population.

Introduction. It is emphasized that the sustainable development of national economy is possible as long as the financial services market functions effectively. The market is formed by the entities providing insurance, banking and investment services.Purpose. The purpose of the article is to identify the current challenges which hinder the development of Ukraine’s financial services market.Methods. The methodological framework of the study includes the following general research methods: induction, analysis, and generalization.Results. The main indicators reflecting the performance of the domestic insurance services market are analysed. Based on gross insurance premiums and insurance payments, it is found out that the most common type of insurance is vehicle insurance. The research paper claims that nowadays various types of insurance are being developed progressively in Ukraine. Special attention is paid to life insurance, because this type of insurance is viewed as socially essential. However, the development of life insurance market in Ukraine is rated as low.The presence of domestic banks on the financial services market is determined through the following indicators: the amount of funds received by business entities and individuals; the amount of gross loans granted to them. Under the current conditions, the domestic banks are providing financial services with innovative solutions.The main performance indicators of the domestic market of investment services with the participation of joint investment institutions are analysed. The development of this segment of the investment services market is evidenced by the increasing volume of assets owned by investment funds. The author also notes that there is a lack of people’s involvement in joint investment institutions.Discussion. The research findings are applicable and can be used in implementing strategies for the growth of Ukraine’s financial services market.

The article emphasizes the unprecedented growth of the role and importance of monetary relations in the formation of the market component of society, by supplementing it – the financial market and financial services markets, non-bank financial institutions professionally engaged in large-scale financial transactions. In this regard, monetary relations in their interaction with legal norms give rise to financial legal relations, which simplifies and disciplines the understanding and perception of monetary relations as an object of financial and legal regulation. It is stated that the regulatory impact on monetary relations in the activities of non-bank financial latter in market relations goes beyond public finance, expanding due to corporate and private finance, their market component, and the volume of private and commercial monetary resources in such conditions are one of the parties to the financial and credit relations. The environment for the implementation of modern monetary policy is formed by many factors, which together create extremely difficult conditions and reduce the effectiveness of monetary policy in achieving its goals. However, the most significant is the spread of the global financial crisis, to overcome which Ukraine needs to improve the legal framework for monetary regulation and apply market mechanisms to regulate the credit system. From a legal point of view, it is important when considering monetary relations (especially the forms of their expression) to understand the substantial nature of the financial mechanism as a whole. It is not the institutions of the financial system such as commercial banks, insurance companies, pension funds, investment funds or other institutions that generate credit as such, but, on the contrary, the existence of monetary relations generates the relevant institutions. And this is not just a scholastic play on words or manipulation of scientific concepts, but a legal fact. Thus, despite the rather intensive formation, the non-banking financial sector has not yet become the main and convenient mechanism for providing the real sector of the economy with the necessary financial resources. They are going through the initial period of their formation, their development remains little dynamic, sometimes even chaotic, which is why it is important to further study their legal nature, activities, functions they perform in the economy of the state and so on. In order to minimize the risks that may result from the lack of stability, transparency and competitiveness of the non-banking financial sector, it is necessary to strengthen the institutional and financial capacity of bodies regulating the financial services market and create an effective system for preventing crimes committed by non-banking financial institutions. Public policy in the non-banking financial sector should be aimed at: creating a system of risk identification, monitoring and ongoing analysis of the financial services market in order to ensure opportunities to take precautions to ensure financial security; strengthening transparency and openness in the activities of financial institutions and the body that carries out state regulation and supervision of such institutions; increasing the solvency and financial stability of non-bank financial institutions; ensuring proper protection of consumers of non-banking financial services; preventing the use of non-bank financial institutions for unproductive withdrawal of capital abroad.

Trends and Influencing Factors of Complementary Feeding Practices in Niger: An Analysis of National Surveys From 2000 – 2018

Background: This article is a review of the PhD thesis by Elizabeth Kimani-Murage that explores the double burden of malnutrition in rural South Africa. This is in the context of a worryingly rapid increase in obesity and obesity-related diseases in low- and middle-income countries (LMICs) including South Africa, and in the wake of on-going nutrition transition and lifestyle changes in these countries.Objective: To understand the profiles of malnutrition among children and adolescents in a poor, high HIV prevalent, transitional society in a middle-income country.Methods: A cross-sectional growth survey was conducted in 2007 targeting 4,000 children and adolescents aged 1–20 years. In addition, HIV testing was carried out on children aged 1–5 years and Tanner pubertal assessment among adolescents aged 9–20 years.Results: The study shows stunting at an early age and adolescent obesity, particularly among girls, that co-exists in the same socio-geographic population. The study also shows that HIV is an independent modifiable risk factor for poor nutritional outcomes in children and makes a significant contribution to nutritional outcomes at the individual level. Significant predictors of undernutrition at an early age, documented at individual, household, and community levels, include child's HIV status, age and birth weight, maternal age, age of household head, and area of residence. Significant predictors of overweight/obesity and risk for metabolic disease during adolescence, documented at individual and household levels include child's age, sex, and pubertal development, household-level food security, socio-economic status, and household head's highest education level.Conclusions: The combination of early stunting and adolescent obesity raises critical concerns in the wake of the rising public health importance of metabolic diseases in LMICs. This is because, both paediatric obesity and adult short stature are risk factors for metabolic syndrome and metabolic diseases in adulthood. Clearly, policies and interventions to address malnutrition in this and other transitional societies need to be double-pronged and gender-sensitive.

Reports about the magnitude of co-existence of under- and over-nutrition is limited in Afghanistan. This study aimed to assess the prevalence of double burden of malnutrition (DBM) at individual and household level in Afghanistan. This study was done based on the Afghanistan National Nutrition Survey 2013, which included a representative sample of 126,890 individuals (including more than 18,000 households) throughout Afghanistan. Intra-individual DBM was defined as the co-existence of "overweight/obese" and "stunting or micronutrient deficiencies" (including anemia, vitamin A deficiency, vitamin D deficiency and iodine deficiency). At the household level, DBM was considered as having at least one household member as overweight/obese and at least one another member of that household as undernourished (stunted, wasted, underweight or any micronutrient deficiency). SPSS and Stata software were used in the current analysis. Cross-tabulations was used to estimate the prevalence and its 95% confidence interval(CI). This study was ethically approved at Tehran University of Medical sciences. The overall prevalence of intra-individual DBM was 12.5% (95% CI: 12.1; 12.9). Among the whole study participants at individual level of DBM, 11.7% (11.3; 12.1) of individuals had overweight along with stunting simultaneously and 20.5% (18.8; 22.4) had overweight and micronutrient deficiencies at the same time at individual level. The household level of DBM was found among 28.6% (95% CI: 27.9; 29.4) of households; such that 27.3% (26.6; 28.1) of households had at least one member with overweight and another member with stunting or wasting or underweight. Co-existence of overweight and micronutrient deficiencies at the same household was seen in 38.3% (35.5; 41.2). This study demonstrated a high prevalence of DBM at individual and household level in Afghanistan. Therefore, developing appropriate national macro-policies and strategies and designing appropriate programs such as public awareness programs, subsidization, food assistance programs, food fortification and dietary supplementation should be implemented by the ministry of public health, inter- related organs and international health agencies to reduce the burden of this problem in this country.

The article examines the essence and strategic directions of digitalization in the financial and insurance services market. It is established that digitalization in the financial and insurance sectors is not only a technological trend, but also a key factor in strategic development. The rapid development of modern technologies significantly affects the financial and insurance services market, changing both the financial products themselves and the principles of their use and distribution methods. In today's conditions of global digitalization of the world, the dynamic development of the country's economy and financial market requires the implementation of an effective mechanism for their functioning and the use of a set of innovative scientific approaches. It is proven that in today's conditions, the digitalization of financial and insurance services means the transition from traditional forms of service to the implementation of the latest electronic technologies. The article defines the essence and analyzes the Digital Transformation Index of Ukraine. In Ukraine, the digitalization of the financial and insurance market is becoming a driving force for the transformation of financial practices and increasing the efficiency of financial process management. This contributes to increasing the availability and quality of services, reducing their cost for consumers, and the overall development of the financial sector. A study of the key components of InsurTech was conducted and it was found that the advantages of this type of insurance are convenience in registration, minimization of papers and availability anywhere in the world. It was determined that FinTech is a set of innovative digital technologies used to carry out financial activities and provide financial services. In the insurance services market, in the context of digitalization, the InsurTech direction has become relevant as a modern form of providing insurance services in an online environment. In the context of strategic directions of digitalization in the financial and insurance services market, we note that the key ones are the implementation of digital identification and the implementation of electronic document management, the development of FinTech and InsurTech, the transition to cloud technologies and the strengthening of cybersecurity and personal data protection. Further expansion of the integration of FinTech and InsurTech solutions into the financial ecosystem is expected in the near future.

Homicide is the third leading cause of death for adolescents in the United States and the leading cause of death for adolescents who are African American. Large cities have disproportionate homicide rates. To determine the relationships between exposures to drugs and alcohol at the individual, family, and neighborhood levels and adolescent firearm homicide and to inform new approaches to preventing firearm violence. Population-based case-control study from January 2010 to December 2012 of all 13- to 20-year-olds who were homicide victims in Philadelphia during the study period matched to randomly selected 13- to 20-year-old controls from the general population. Individual drug and alcohol use at the time of injury, history of drug and alcohol use, caregiver drug and alcohol use, and neighborhood availability of alcohol and illegal drugs. We also controlled for age, race, school suspensions, arrests, and neighborhood ethnicity. Adolescent firearm homicide identified from police and medical examiner's reports. We enrolled 161 adolescent homicide cases, including 157 (97.5%) firearm homicide cases and 172 matched controls, including 166 (96.5%) firearm homicide controls. Adolescents with a history of alcohol use (adjusted odds ratio [AOR], 4.1; 95% CI, 1.2-14.0) or drug use (AOR, 4.4; 95% CI, 1.7-11.6) had increased odds of firearm homicide. Adolescents whose caregiver had a history of drug use had increased odds of firearm homicide (AOR, 11.7; 95% CI, 2.8-48.0). Adolescents in neighborhoods with high densities of alcohol outlets (AOR, 3.2; 95% CI, 1.1-9.1) and moderate or high drug availability had increased odds of firearm homicide (AOR, 3.4; 95% CI, 1.1-10.3 vs AOR, 7.5; 95% CI, 2.2-25.8). Almost all adolescent homicides in Philadelphia between 2010 and 2012 were committed with a firearm. Substance use at the individual, family, and neighborhood levels was associated with increased odds of adolescent firearm homicide; drug use was associated at all 3 levels and alcohol at the individual and neighborhood levels. Expanding violence prevention efforts to target drug and alcohol use at multiple levels may help to reduce the firearm violence that disproportionately affects adolescents in minority populations in large US cities.

PurposeGiven that managers play a crucial role in developing and deploying AI for marketing financial services, this study was aimed at better understanding their awareness regarding AI and the challenges they are facing in providing the attendant technologies, as well as highlighting key stakeholders and their collaborative efforts in providing financial services.Design/methodology/approachExploratory, inductive research design. The data was gathered through semi-structured interviews with 47 bank managers in both developed and developing countries, including the United Kingdom, Canada, Nigeria and Vietnam.FindingsManagers are aware of the prospects of AI and are making efforts to address AI as a business need but find that there often exist certain challenges in accelerating AI adoption. The study also presents a conceptual framework of AI in relation to financial service marketing, which captures and highlights the interactions among the customers, banks and external stakeholders, as well as the regulators.Research limitations/implicationsBanks must understand their business objectives, the available resources and the needs of their customers. Managers should keep the ethical implications of their working relationships in mind when selecting a team or collaborating with partners. In addition, managers should be trained and assisted in comprehending AI in relation to financial services, while the regulators must be involved in the development of AI for financial service marketing. Finally, it is critical to communicate the prospects for AI to consumers.Originality/valueThis study provides empirical insight into the opportunities, prospects and challenges pertaining to the use of AI in the area of financial service marketing. It also specifically calls into question certain preconceptions regarding AI and its role in financial services, the chatbots adopted for financial service delivery and the role of marketing managers in developing AI.

Households, by their nature, are integral economic subjects of the national economy, which pay one of the key roles in its development and, accordingly, also act as important consumers in the financial services market. The study of the role of these subjects in the development of the specifiedmarket as an important component of the formation of conditions for its effective functioning, which determines the relevance of studying their behavior with the aim of its formation. This requires knowledge of current trends in the households’ role in the development of certain areas of the financialservices market. Within the article, a step-by-step analysis of the households’ activities within certain types of financial institutions that operate within certain types of activities of financial institutions that operate within the specified market is provided. The analysis of the main trends in the developmentof the financial services market was carried out through a gradual study of the current state of the operation of credit, deposit, insurance and investment services markets. Particular attention was focused on the study of current trends in the development of credit and deposit services markets asthe most developed links of the system of the financial services market, and the role of households in ensuring their functioning.The results obtained during the research give grounds to assert that the role of households in the country’s financial system is very important. These economic entities play a special role in the deposit market functioning, create a stable demand for credit resources, and the specific weight of loans issuedto these economic entities in the total volume of bank loans is constantly growing. Households also play a decisive role in the activities of insurance companies and non-state pension funds.It was also established that in the future, the role of households in the development of the financial services market will remain significant, and therefore, there is an objective need for the formation of a rational model of the financial behavior of these economic entities.

Purpose. The purpose of the paper is to characterize the structural changes in the financial services market caused by war and identify the main trends and mechanisms for ensuring the stability of the market under martial law in Ukraine. Design/methodology/approach. We used the data from the financial market regulators to analyze the impact of a full-scale invasion on financial institutions’ activity and operations as well as to compare the contemporary trends in different sectors of the financial market in Ukraine. Findings. Our research examines the financial landscape in 2022, revealing a marked decline in the presence of financial intermediaries, notably in insurance companies and credit unions. Concurrently, there has been a substantial reduction in the number of bank branches. The sharp decline in the number of financial institutions can be attributed to multiple factors, including some institutions operated in regions occupied by Russia, preventing continuity after the invasion, and others involved in high-risk activities facing NBU scrutiny revealing violations. The war intensified liquidity and solvency issues, with numerous failed institutions lacking a safety margin and unable to attract resources amid economic deterioration. Despite these structural shifts, the overall assets of financial institutions have not decreased. The analysis showed the redistribution of assets in favor of banks. The market share of financial companies and pension funds experienced a slight decrease, with insurers and credit unions facing more significant losses. Practical implications. The high level of digitalisation of financial services in Ukraine allowed for ensuring an adequate level of access to financial services in the first months of the war when it was critical to maintaining customer confidence in the financial sector. Accordingly, further digitisation of financial transactions and improvement of regulatory approaches to the use of digital financial instruments can be seen as priority areas for the development of Ukraine’s financia sector. Originality/value. The research is an attempt to assess the extent of the impact of critically negative external factors on the financial sector in Ukraine, in particular, to identify structural changes caused by the war. Prospects for further research are related to the study of the medium- and longterm aspects of this impact

The article is devoted to the peculiarities of state regulation in the market of non-banking financial services. At the same time, attention was paid to the creation of a specially authorized state body in the form of the National Commission for Control of the Market of Non-Banking Financial Services. The purpose of the article is to reveal the legal status, the order of formation, and clarify the main principles of the National Commission's activity. Achieving the outlined goal became possible thanks to the use of a complex of methods of scientific knowledge, in particular, the dialectical method (for comprehensive knowledge of the nature of the National Commission for Control over the Market of Non-Banking Financial Services), the formal-legal method (for establishing the content of legal norms), the formal-logical method (for identification of shortcomings in national legal regulation), comparative legal method (for studying the experience of other countries and determining the prospects for implementing their principles of activity in the national legal field). It has been studied that the special status of the commission is that it ensures the stability of the entire non-banking financial system of Ukraine, establishing the requirements that such institutions must meet, namely requirements for: liquidity, solvency, capital, asset quality, risk level of operations, profitability. The work examines the relationship between the commission and the National Bank of Ukraine, their cooperation in the market, which consists in the development of regulatory and legal acts and their approval. The need for the National Bank of Ukraine to delegate its powers to the National Commission for Control of Non-Banking Financial Services in relation to: registration of market participants, licensing of non-bank financial institutions, determining the procedure for issuing and canceling a license, approving the terms of operation of such institutions. In view of this, a new model of state regulation on the market of non-banking financial services was proposed in the form of concentration of all control functions on the market in a single operationally independent regulator - the National Commission for Control of Non-Banking Financial Services, which is in close cooperation with the National Bank of Ukraine and by the National Securities and Stock Market Commission. Also, the article emphasizes that regulation by the National Commission for Control of the Market of Non-Banking Financial Services should be complemented by a system of self-regulating participants in the market, which are an additional tool to state regulation.