Title
The problem of savings exclusion and gross savings in the new European Union member states
Abstract
The problem of the exclusion of some households, in particular those less affluent, from the use of financial services available on the market, including savings, is an important issue in the literature due to the objectively identified negative social and economic consequences of such exclusion. The research objective of the article is to attempt to identify factors related to savings exclusion which determine the share of gross savings in GDP in the new European Union member states. To achieve the goal, a panel data model was estimated. The set of statistically significant factors that adversely affect the creation of gross savings in the economy, and thus the higher level of savings exclusion, include the unemployment rate, social contributions, household debt, the Gini coefficient, and the share of people aged 25-49 in the total population. All these variables are negatively correlated with the explained variable, which means that an increase in their value causes a fall in gross savings. The results of the research have shown that such a highly aggregated measure as gross savings in the economy can be useful for analysing selected aspects of savings exclusion occurring in the examined new member states of the EU.
Keywords
savings exclusion, gross savings, national accounts
JEL classifications
E21 , E71 , G41
URI
http://jssidoi.org/jesi/article/533
DOI
Pages
2470-2480
Funding
The paper was supported by the research project "Positive social change in an organization as a factor of a company engagement in sustainable development". The project was funded by the National Science Centre, Poland, on the decision number DEC-2017/25/B/HS4/01113.This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License
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