The assessment of government incentives on savings, Hungary 2006–2019

Vivien Czeczeli, Gábor Kutasi () and Eszter Szabó
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Vivien Czeczeli: Research Institute of Competitiveness and Economy, National University of Public Service, Budapest, Ludovika tér 2, H-1083, Hungary
Gábor Kutasi: Research Institute of Competitiveness and Economy, National University of Public Service, Budapest, Ludovika tér 2, H-1083, Hungary
Eszter Szabó: Department of World Economy, Corvinus University of Budapest, Hungary

Acta Oeconomica, 2021, vol. 71, issue 4, 569-585

Abstract: This study analyses the effectiveness of government incentives on household savings in Hungary prior to the Covid pandemic and the ensuing economic turmoil. Time series pertaining to life insurance, voluntary pension savings, and long-term and short-term government bonds are tested in relation to government incentives. The novelty of this study is the test on complex mix of policy incentives and saving funds. The analysis applies the multiple breakpoint test and OLS regression, based on the behavioural life cycle hypothesis. The conclusion is that in the analysed time period the government incentives had a significant effect and promoted savings behaviour, with the exception of short-term government bonds.

Keywords: government incentives; household savings; breakpoint test; behavioural life cycle hypothesis; Hungary (search for similar items in EconPapers)
JEL-codes: C22 D14 D15 E21 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:aka:aoecon:v:71:y:2021:i:4:p:569-585

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