An Analysis Of The Saving Behavior In Romania. Comparative Study For 2012 And 2011 Based On The “Financial Situation Of The Romanian Households” Enquiries

  • Ileana Gabriela Niculescu-Aron Faculty of Cybernetics, Statistics and Economic Informatics, Bucharest Academy of Economic Studies
Keywords: Saving Behaviour, Determinants Of Population Savings, Logistic Regression

Abstract

Emergence from recession and economic recovery in the EU countries are complex processes that imply massive investments aimed at capital (human, physical and financial) productivity increase. The issue of finding financing funds is crucial and the solutions are not many, since they can only come from internal or external savings. External sources are very restrictive and expensive, thus, economic recovery mostly depends on national savings.

The main sector of a national economy that is saving is the household sector and for this reason the saving and consumption behaviour are of utmost importance for the financial stability of a country. Therefore, the anti-crisis and economic recovery governmental programmes should include financial policies that stimulate savings, based on an as rigorous knowledge of these behaviours as possible.

Pertinent results in the analysis of the saving behaviour of the households may be quickly obtained with the help of data from selective studies. To this purpose, the aim of the present paper is to highlight some particularities of the Romanian households saving behaviour from the perspective of their importance for economic recovery and financial stability of the economy, starting from the results of two enquiries that took place during 1-15 October 2011 on a sample of 1800 respondents, respectively 1-15 May 2012 on a sample of 1728 respondents, constituted with quota sampling. Besides the transversal analysis, the two also allowed for highlighting the changes between the respective moments of time.

References

Abdelkhalek, Touhami, Arestoff, Florence., El Mekkaoui de Freitas, Najat. and Mage, Sabine. "A microeconometric analysis of households saving determinants in Morocco" 2009. 19 april 2012 <http://basepub.dauphine.fr/bitstream/handle/123456789/5550/A27CA046d01.pdf?sequence=1 >.

Alessie, Rob. and Lusardi , Annamaria. "Saving and income smoothing: Evidence from panel data" European Economic Review 41 July 1997: 1251-1279.

Boesch-Supan, Axel. and Brugiavini, Agar. "Savings: The policy debate in Europa" Oxford Review of Economic Policy" 17 March 2001: 116-143.

Browning, Martin. and Lusardi, Annamaria. "Household Saving: Micro Theories and Micro Facts" Journal of Economic Literature 34 December 1996: 1797-1855.

Canova, Luigina., Manganelli Rattazzi, Anna Maria. and Webley, Paul. "The hierarchical structure of saving motives" Journal of Economic Psychology 26 2005:21–34.

Kessler, Denis. and Perelman, Sergio. "Savings behavior in 17 OECD countries."Review of Income and Wealth 39 March 1993: 37-49.

Kulikov, Dmitry., Paabut, Annika. and Staehr, Karsten. "A Microeconometric Analysis of Household Saving in Estonia: Income, Wealth and Financial Exposure" Working Paper Estonian National Bank 2007. 20 March 2012

<http://www.eestipank.ee/print/en/dokumendid/publikatsioonid/seeriad/uuringud/_2007/_8_2007/_wp_807.pdf>

Mihăescu, Constanta., Niculescu-Aron, Ileana. and Căplescu, Raluca. "Recent Developments In The Borrowing Behavior Of Romanian Households" Economic Calculation and Cybernetics Studies and Researches 1 2010:6-11.

Muradoglu, Gulnur. and Ttaskin, Fatma. "Differences in household savings behavior:evidence from industrial and developing countries" The Developing Economies, XXXIV-2 June 1996:138-153.

Pailwar, Veena, Kaur, Jaspreet., Saxena, Khushboo. and Nijhara, Mitesh. "Impact of membership of financial institutions on rural saving: a micro-level study", International Business & Economics Research Journal, 10 October 2010:139-148.

Rehman, Hafeez., Bashir, Furrukh. and Faridi, Muhammad Zahir. "Saving behavior among different income groups in Pakistan: a micro study" International Journal of Humanities and Social Science 10 August 2010:268-277.

Sturm, Peter H. 1983. "Determinants of Saving: Theory and Evidence" OECD Economic Studies 1 1983:147–96

Published
2012-09-01
Issue
Vol 6 (2012)
Section
Articles
Copyright (c) 2012 Ileana Gabriela Niculescu-Aron

Copyright information

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License (Creative Commons Attribution License 3.0 - CC BY 3.0) that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).