Financial Exclusion in EU Member States and Candidate Countries – A Comparative Analysis

Abstract

Goal – The main goal of this study is to conduct a comparative analysis of the level of financial exclusion in EU states and candidate countries in 2023. Research methodology – The research procedure consisted of the following steps: a study of literature, review of databases, verification and investigation of data, visualisation of the selected measures on financial exclusion in the countries under analysis and it results. Score/results – The study reveals that there is no noticeable relation between the membership in the EU and the level of financial exclusion. It follows that EU membership is not an automatic guarantee for financial inclusion. Furthermore, the analysis revealed a differentiation within the group of candidate countries but also among EU member states. Additionally, it follows that poor geographical outreach does not always have a negative impact on the use of financial services. Originality/value – The value of the paper is related to the comparative analysis of the selected group of countries: such analysis, including two dimensions of financial inclusion, which are geographical outreach, and the use of financial services was not conducted so far.