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Determinants of Household Saving in Australia

Author

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  • Harris, Mark N
  • Loundes, Joanne
  • Webster, Elizabeth

Abstract

This paper uses a unique survey of consumers to test several separate but inter-related hypotheses of household saving. Unit records from 17,585 Australian households are available, which enables the incorporation of a range of household characteristics that may be important factors for saving behaviour, but which are not typically available to researchers undertaking macroeconomic analyses. An ordered probit estimation method is used, and the results support the view that current incomes are perhaps the most important determinant of saving. However, it can also be seen that demographics and householders level of economic optimism play a key role. Copyright 2002 by The Economic Society of Australia.

Suggested Citation

  • Harris, Mark N & Loundes, Joanne & Webster, Elizabeth, 2002. "Determinants of Household Saving in Australia," The Economic Record, The Economic Society of Australia, vol. 78(241), pages 207-223, June.
  • Handle: RePEc:bla:ecorec:v:78:y:2002:i:241:p:207-23
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    Cited by:

    1. Canova, Luigina & Rattazzi, Anna Maria Manganelli & Webley, Paul, 2005. "The hierarchical structure of saving motives," Journal of Economic Psychology, Elsevier, vol. 26(1), pages 21-34, February.
    2. Mark N. Harris & Xueyan Zhao, 2004. "Modelling Tobacco Consumption with a Zero-Inflated Ordered Probit Model," Monash Econometrics and Business Statistics Working Papers 14/04, Monash University, Department of Econometrics and Business Statistics.
    3. repec:spr:soinre:v:136:y:2018:i:1:d:10.1007_s11205-016-1533-9 is not listed on IDEAS
    4. van der Star, Sanne M. & van den Berg, Bernard, 2011. "Individual responsibility and health-risk behaviour: A contingent valuation study from the ex ante societal perspective," Health Policy, Elsevier, vol. 101(3), pages 300-311, August.
    5. Clovis Kerdrain & Isabell Koske & Isabelle Wanner, 2011. "Current Account Imbalances: can Structural Reforms Help to Reduce Them?," OECD Journal: Economic Studies, OECD Publishing, vol. 2011(1), pages 1-44.
    6. Clovis Kerdrain & Isabell Koske & Isabelle Wanner, 2010. "The Impact of Structural Policies on Saving, Investment and Current Accounts," OECD Economics Department Working Papers 815, OECD Publishing.
    7. Agyekum, Francis & Locke, Stuart & Hewa-Wellalage, Nirosha, 2016. "A search for Theory of Financial Market Failure in Lower Income Countries (LICs) and implication for Financial Exclusion," MPRA Paper 82861, University Library of Munich, Germany, revised 15 May 2017.
    8. Alfredo Schclarek & Mauricio Caggia, 2015. "Household Saving and Labor Informality: The Case of Chile," IDB Publications (Working Papers) 6946, Inter-American Development Bank.
    9. Arda Aktas & Duygu Guner & Seyfettin Gursel & Gokce Uysal, 2010. "Structural Determinants of Household Savings in Turkey: 2003-2008," Working Papers 007, Bahcesehir University, Betam, revised Jun 2010.
    10. Alfredo Schclarek & Mauricio Caggia, 2015. "Household Saving and Labor Informality: The Case of Chile," IDB Publications (Working Papers) 89359, Inter-American Development Bank.
    11. repec:chb:bcchec:v:20:y:2017:i:3:p:052-080 is not listed on IDEAS
    12. Aniceto C. Orbeta Jr., 2006. "Children and Household Savings in the Philippines," Development Economics Working Papers 22672, East Asian Bureau of Economic Research.
    13. Che-cheong Poon & Tai-Yuen Hon, 2015. "Household Savings in Hong Kong: A Statistical Analysis," Journal of Family and Economic Issues, Springer, vol. 36(3), pages 353-368, September.
    14. Cengiz Tunc & Abdullah Yavas, 2016. "Not all credit is created equal : Mortgage vs non-mortgage debt and private saving rate in Turkey," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 16(1), pages 25-32.
    15. Tim Fry & Sandra Mihajilo & Roslyn Russell & Robert Brooks, 2008. "The Factors Influencing Saving in a Matched Savings Program: Goals, Knowledge of Payment Instruments, and Other Behavior," Journal of Family and Economic Issues, Springer, vol. 29(2), pages 234-250, June.
    16. Preecha Swasdpeera & I.M. Pandey, 2012. "Determinants of personal saving: a study of salaried individuals in Thailand," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 3(1), pages 34-68.

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