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Consumption Expenditure in Romania – between Present Constraints and Past Habits

Author

Listed:
  • Moraru Andreea-Daniela

    (Ovidius University of Constanta Faculty of Economic Sciences)

  • Baca Eleonora

    (Ovidius University of Constanta)

Abstract

The magnitude and the obvious negative effects of the economic crisis have reshaped mentalities and announced the advent of a new type of consumer - more conscious, more rational, more inclined to save, and to postpone high value and indulgence purchases. While the influence of present economic factors on consumption is obvious and undeniable it seems rather natural to assume that present consumption depends not only on present economic factors but also on past factors. The paper was aimed therefore at testing whether previous income, previous wealth and previous consumption levels have a persistent influence thus affecting present consumption expenditure in the case of Romania. The results revealed that present consumption is influenced first and foremost by present income, and secondarily by present wealth; also significant were found both the influences of previous income and previous wealth on present consumption.

Suggested Citation

  • Moraru Andreea-Daniela & Baca Eleonora, 2015. "Consumption Expenditure in Romania – between Present Constraints and Past Habits," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 552-555, May.
    • Handle: RePEc:ovi:oviste:v:xv:y:2015:i:1:p:552-555
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    More about this item

    Keywords

    consumption; persistence; influence; Romania;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General

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