Household savings of Slovakia: effects of banks, dependency ratio, transitory income and unemployment

Renáta Pitoňáková

International Journal of Trade and Global Markets, 2017, vol. 10, issue 1, 115-122

Abstract: The paper focuses on determinants of household savings in Slovakia applying quarterly data 1995 Q1 to 2015 Q1. The outcomes from the ARDL procedure suggest that in the long-run households are expecting their permanent income to be above their current income and that is associated with their dissaving behaviour, while favourable conditions in the short-run stimulate households to raise savings. The impact of credit institutions on savings is positive. Saving rate and dependency ratio of elderly stands in contradiction to the Life-Cycle Hypothesis as elderly population increases savings. Unemployment rate indicates a precautionary saving motive. About 63% of disequilibrium in the previous quarter will be corrected in the current quarter.

Keywords: household savings; savings rate; dependency ratio; banks; transitory income; ARDL; Slovakia; unemployment rate; banking industry; elderly population; old age; precautionary savings. (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijtrgm:v:10:y:2017:i:1:p:115-122

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