Household Savings in Transition Economies
During the transition from central
planning to market economies now under way in Eastern
Europe, output levels first collapsed by 40 to 50 percent in
most countries, then staged a modest recovery in the last
two years. Longer-term revival of growth requires a
resumption of investment and thus, realistically, of
domestic savings. To explore the determinants of household
savings rates in transition economies, the authors studies
matching household surveys for three Central European
economies: Bulgaria, Hungary, and Poland. They find that
savings rates strongly increase with relative income,
suggesting that increasing income inequality may play a role
in determining savings rates. Savings rates are
significantly higher for households that do not own their
homes or that own few of the standard consumer
durables - possibly because, with no retail credit or mortgage
markets, households must save to purchase houses and
durables. The influence of demographic factors broadly
matches earlier findings for developing countries. Perhaps
surprisingly, variables associated with the households
position in the transition process - including either sector
of employment (public or private) or form of employment - do
not play a significant role in determining savings rates.
Saved in:
Bibliographic Details
| Main Authors: |
Denizer, Cevdet,
Wolf, Holger C.,
Ying, Yvonne |
|---|
| Format: | Working Paper
biblioteca
|
|---|
| Language: | English
en_US |
|---|
| Published: |
World Bank, Washington, DC
2000-03
|
|---|
| Subjects: | ASSET MANAGEMENT,
BANK FAILURES,
BANKING CRISES,
CAPITAL FLOWS,
CENTRAL PLANNING,
COMPARATIVE ECONOMICS,
CONSUMERS,
CONSUMPTION SMOOTHING,
DECENTRALIZATION,
DEVELOPMENT ECONOMICS,
ECONOMIC ACTIVITY,
ECONOMIC BEHAVIOR,
ECONOMIC CHANGE,
ECONOMIC SYSTEMS,
EMPLOYMENT,
ENVIRONMENTAL PERFORMANCE,
EQUILIBRIUM,
EXCHANGE RATE,
EXPENDITURES,
FINANCIAL SECTOR,
FISCAL DEFICITS,
FIXED PRICES,
GDP,
GROWTH RATE,
HOUSEHOLD CONSUMPTION,
HOUSEHOLD INCOME,
HOUSEHOLD SURVEYS,
HOUSING,
INCOME,
INCOME DISTRIBUTION,
INCOME ELASTICITY,
INCOME INEQUALITY,
INCOME LEVELS,
INCOME RISK,
INFLATION,
INSURANCE,
INSURANCE MARKETS,
INTEREST RATES,
INTERMEDIATE GOODS,
LIQUIDITY,
MARKET ECONOMIES,
OVERVALUATION,
PENSIONS,
PERMANENT INCOME,
PERMANENT INCOME HYPOTHESIS,
PERSONAL SAVINGS,
PLANNED ECONOMIES,
POLITICAL ECONOMY,
POLLUTION,
POLLUTION CONTROL,
POVERTY REDUCTION,
PRIVATIZATION,
PRODUCTIVE ASSETS,
PROPENSITY TO SAVE,
REAL GDP,
REAL RATE OF INTEREST,
REAL WAGES,
SAVINGS,
SAVINGS BEHAVIOR,
SAVINGS RATES,
SAVINGS THEORIES,
SOCIAL ASSISTANCE,
TARGETING,
TRANSITION ECONOMIES,
TRANSPORT,
UNEMPLOYMENT,
WAGES,
WEALTH,
WILLINGNESS TO PAY, |
|---|
| Online Access: | http://documents.worldbank.org/curated/en/2000/03/437904/household-savings-transition-economies
https://hdl.handle.net/10986/22359
|
|---|
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
|---|
