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Household Savings in Transition Economies

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  • Cevdet Denizer
  • Holger C. Wolf

Abstract

Based on matching household surveys for three central European countries, Bulgaria, Hungary and Poland, we explore the determinants of household saving rates in transition economies. We find savings rates to increase strongly in relative income and to be significantly higher for households owning few of the standard consumer durables, consistent with anticipatory savings prior to durable purchases in the absence of retail credit markets. The influence of demographic factors broadly matches earlier findings for developing countries. Perhaps surprisingly, variables associated with the position of the household in the transition process, notably the sector of employment, plays no significant role in determining savings rates.

Suggested Citation

  • Cevdet Denizer & Holger C. Wolf, 1998. "Household Savings in Transition Economies," NBER Working Papers 6457, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:6457
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    Cited by:

    1. Barbara Liberda, 1999. "Household Saving in Poland," CASE Network Studies and Analyses 0187, CASE-Center for Social and Economic Research.
    2. Mechthild Schrooten & Sabine Stephan, 2004. "Does Macroeconomic Policy Affect Private Savings in Europe?: Evidence from a Dynamic Panel Data Model," Discussion Papers of DIW Berlin 431, DIW Berlin, German Institute for Economic Research.
    3. Andrea Butelmann & Francisco Gallego, 2001. "Estimaciones de los determinantes del ahorro coluntario de los hogares en Chile (1988-1997)," Central Banking, Analysis, and Economic Policies Book Series,in: Felipe Morandé & Rodrigo Vergara & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edit (ed.), Análisis Empírico del Ahorro en Chile, edition 1, volume 1, chapter 6, pages 141-190 Central Bank of Chile.
    4. Tara Watson & Sara McLanahan, 2011. "Marriage Meets the Joneses: Relative Income, Identity, and Marital Status," Journal of Human Resources, University of Wisconsin Press, vol. 46(3), pages 482-517.
    5. Andrea Butelmann & Francisco Gallego, 2001. "Household Saving in Chile (1988 and 1997): Testing the Life Cycle Hypothesis," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 38(113), pages 3-48.
    6. Gaisina, Sholpan, 2014. "Rural Household Saving Determinants in Kazakhstan," Journal of Rural Cooperation, Hebrew University, Center for Agricultural Economic Research, vol. 0(Number 1), pages 1-21.
    7. Dumitru, Ionut & Mircea, Romulus & Jianu (Dumitru), Ionela, 2011. "Economisirea în România – evoluţii şi factori determinanţi
      [Savings in Romania - developments and fundamentals]
      ," MPRA Paper 29027, University Library of Munich, Germany.
    8. Sergei Guriev & Barry W. Ickes, 2000. "Microeconomic Aspects of Economic Growth in Eastern Europe and the Former Soviet Union, 1950-2000," William Davidson Institute Working Papers Series 348, William Davidson Institute at the University of Michigan.
    9. Andrea Butelmann & Francisco Gallego, 2001. "Estimaciones de los Determinantes del Ahorro Voluntario de los Hogares en Chile (1988 Y 1997)," Working Papers Central Bank of Chile 97, Central Bank of Chile.
    10. Mechthild Schrooten & Sabine Stephan, 2002. "Back on Track?: Savings Puzzles in EU-Accession Countries," Discussion Papers of DIW Berlin 306, DIW Berlin, German Institute for Economic Research.
    11. Mechthild Schrooten & Sabine Stephan, 2003. "Private Savings in Eastern European EU-Accession Countries: Evidence from a Dynamic Panel Data Model," Discussion Papers of DIW Berlin 372, DIW Berlin, German Institute for Economic Research.
    12. repec:cml:incocp:7sp-04 is not listed on IDEAS
    13. Ana María Iregui-Bohórquez & Ligia Alba Melo-Becerra & María Teresa Ramírez-Giraldo & Ana María Tribín-Uribe, 2016. "Ahorro de los hogares de ingresos medios y bajos de las zonas urbana y rural en Colombia," Borradores de Economia 960, Banco de la Republica de Colombia.

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