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Modeling of Consumption Level and Savings of Households in Rural Areas of Ukraine

Author

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  • Halyna Makedon

    (National University of Life and Environmental Sciences of Ukraine, Kyiv, Ukraine)

Abstract

The purpose of the article is a critical analysis of the structure dynamics, consumption level and savings of the rural population and building on this basis of the economic model required to predict these indicators. The study founded that the standard of living of the rural population of Ukraine in the international classification falls under the category of 'absolute poverty'. Despite this, the share of savings in the structure of total expenditure of the rural population in recent years is higher than that of the urban population. An economic-metric model of consumption and savings of the rural population is build which, along with the basic economic factors, includes the consumer price index and the interest rate. Based on the functions received the level of consumption and household savings of rural areas is predicted. The findings suggest that in the current circumstances the share of savings for the rural population will remain at the level of 11-12%. This level is extremely low for the active development of the domestic economy, in particular the growth of GDP.

Suggested Citation

  • Halyna Makedon, 2015. "Modeling of Consumption Level and Savings of Households in Rural Areas of Ukraine," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 139-144, June.
    • Handle: RePEc:iaf:journl:y:2015:i:2:p:139-144
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    File URL: http://www.afj.org.ua/pdf/285-modelyuvannya-rivnya-spozhivannya-ta-zaoschadzhennya-domogospodarstv-v-silskiy-miscevosti-ukraini.pdf
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    File URL: http://www.afj.org.ua/en/article/285/
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    More about this item

    Keywords

    consumption; savings; household; economic model; the Engel coefficient;
    All these keywords.

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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