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Rural Household Saving Determinants in Kazakhstan

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  • Gaisina, Sholpan

Abstract

This paper provides an analysis of microeconomic factors that explain the savings behavior of rural households in Kazakhstan based on unique survey data. Rural household savings are estimated in order to test household responses to income, monetary or non-monetary wealth, and some socioeconomic variables. Based on the analysis results, we conclude that although some rural households save in the form of financial assets, most households prefer to save in animal stock. It is explainable by the reluctance of commercial banks – the only source of financial services for the rural population in Kazakhstan – to deal with low-income rural clientele. The conclusions suggest that the government should revise its policies regarding Rural Credit Partnerships (RCPs), making them full-fledged cooperative institutions for savings and loans.

Suggested Citation

  • Gaisina, Sholpan, 2014. "Rural Household Saving Determinants in Kazakhstan," Journal of Rural Cooperation, Hebrew University, Center for Agricultural Economic Research, vol. 42(1), pages 1-21.
    • Handle: RePEc:ags:jlorco:249706
    DOI: 10.22004/ag.econ.249706
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    References listed on IDEAS

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    1. Martin Browning & Annamaria Lusardi, 1996. "Household Saving: Micro Theories and Micro Facts," Journal of Economic Literature, American Economic Association, vol. 34(4), pages 1797-1855, December.
    2. B. Douglas Bernheim & Daniel M. Garrett, 1996. "The Determinants and Consequences of Financial Education in the Workplace: Evidence from a Survey of Households," NBER Working Papers 5667, National Bureau of Economic Research, Inc.
    3. Gaisina, Sholpan, 2011. "Credit through Rural Credit Partnerships for Agricultural Producers in Kazakhstan," Journal of Rural Cooperation, Hebrew University, Center for Agricultural Economic Research, vol. 39(2), pages 1-17.
    4. Cevdet Denizer & Holger C. Wolf, 1998. "Household Savings in Transition Economies," NBER Working Papers 6457, National Bureau of Economic Research, Inc.
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