On the methodological approaches to the study of saving behavior of the population

Abstract

The task to ensure effective functioning of all systems in the society and sustainable economic growth requires significant amounts of investment resources, which include savings of the population. This involves identification of the amount of funds accumulated by the population and studies of the characteristics of its saving behavior. The article reveals advantages and disadvantages of the main methodological approaches to the research in saving behavior and gives a comparative analysis of methods on the basis of official statistical information. As for Russia income is a key factor in saving behavior, the article also addresses the problem of assessing the degree of income differentiation of saving behavior. For this purpose we have used a method of household budgets sample surveys on the basis of which we have calculated and analyzed key performance indicators of savings behavior of households, including in the context of groups with different income levels. Unlike previous works on the topic, our study uses available resources (not money income) as a basis for the calculation of saving behavior indicators, as they more fully characterize funds of low-income households, which are mostly represented in the budget surveys sample. The performed analysis has helped identify that the degree of the population’s savings differentiation does not yield to the incomes differentiation, and the highest levels of savings and used financial assets belong to the well-to-do group. What is more, the growth in per capita income has not encouraged the poor to save. Thus, in contrast to the well-to-do, increasing the volume of savings in the cost structure, poorer groups direct the major part of funds for consumer needs and different payments. Thus, the share of savings in the overall structure of their income remains practically unchanged. The conclusion emphasizes that sociological methods can be used to study qualitative changes in saving behavior and analyze the impact of subjective factors

Keywords

• savings
• households
• balance of money income and expenditure (Bie) tax account system (TAS)
• household budgets sample survey
• savings rate