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Structural Determinants of Household Savings in Turkey: 2003-2008

  • Arda Aktas

    ()

    (Stony Brook University)

  • Duygu Guner

    ()

    (University of Mannheim)

  • Seyfettin Gursel

    ()

  • Gokce Uysal

    ()

    (Bahcesehir University Center for Economic and Social Research (Betam))

Widening current account deficits coupled with low private saving rates in Turkey have started a recent policy debate on how household savings can be increased. Using Household Budget Surveys from 2003 to 2008, we study the structural determinants of household savings in Turkey. We consider various different definitions for savings, including durable consumption goods, education and health. Our findings are robust across different definitions. The results indicate that dependency ratios of households are important determinants of savings. Lower shares of dependent children or dependent elderly in the household imply higher saving rates. Moreover, female labor force participation has significant effects, i.e. households with higher shares of working females, have higher saving rates as well. We also find that households in which the head is self-employed or an employer have higher saving rates. Moreover, households with where pension payments constitute a larger share of income save less. Note that pension payments are always coupled with free health benefits. These findings point to strong evidence of precautionary savings.

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File URL: http://betam.bahcesehir.edu.tr/tr/wp-content/uploads/2012/05/WorkingPaper0072.pdf
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File Function: Revised version, 2012
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Paper provided by Bahcesehir University, Betam in its series Working Papers with number 007.

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Length: 52 pages
Date of creation: Mar 2010
Date of revision: Jun 2010
Handle: RePEc:bae:wpaper:007
Contact details of provider: Web page: http://www.betam.bahcesehir.edu.tr
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  1. Schmidt-Hebbel, K. & Serven, L., 1997. "Saving Across the World: Puzzles and Policies," World Bank - Discussion Papers 354, World Bank.
  2. Dmitry Kulikov & Karsten Staehr, . "Microeconometric analysis of household saving in Estonia: income, wealth, financial exposure," Bank of Estonia Working Papers wp2007-8, Bank of Estonia, revised 03 Feb 2015.
  3. 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 207-23, June.
  4. Betcherman, Gordon & Daysal, N. Meltem & Pagés, Carmen, 2008. "Do Employment Subsidies Work? Evidence from Regionally Targeted Subsidies in Turkey," IZA Discussion Papers 3508, Institute for the Study of Labor (IZA).
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