Assessing the factors that determine people's financial behavior: an experience of using regression analysis based on panel data
Автор: Belekhova Galina V., Rossoshanskii Aleksandr I.
Журнал: Economic and Social Changes: Facts, Trends, Forecast @volnc-esc-en
Рубрика: Social development
Статья в выпуске: 5 (59) т.11, 2018 года.
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Financial behavior determines people’s engagement in economic life and is therefore critical to social, financial, and economic stability. Numerous studies conducted in Russia since the mid-1990s point out the existence of “system problems” in the financial behavior of the country’s population; the problems include moderate savings and investment activity, passive pension strategies, and a low level of financial literacy. The reasons for this situation lie not only in the “Soviet past”, or in the prevalence of paternalistic sentiments, or in the specifics of “national mentality” in relation to money, or in the limited amount of free cash that people have, or in the “blind spots” of financial legislation. It is necessary to understand that financial behavior is a complex socio-economic phenomenon, formed by the impact of many different factors. Therefore, it is important to study factors that influence the content of people’s financial behavior. The goal of the paper is to identify macroeconomic factors in people’s financial behavior; the factors that can be taken into account in the regulation of the financial sector and the social sphere...
Financial behavior, econometric methods, panel data, income, birth rate
Короткий адрес: https://sciup.org/147224093
IDR: 147224093 | DOI: 10.15838/esc.2018.5.59.13
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