Household Savings in Central Eastern and Southeastern Europe : How Do Poorer Households Save?

Beckmann, Elisabeth

World Bank, Washington, DC

关键词: HOUSEHOLD SAVINGS;    SHARED PROSPERITY;    PORTFOLIO CHOICE;    SURVEY DATA;    FINANCIAL LITERACY;   

DOI  :  10.1596/1813-9450-8751
RP-ID  :  WPS8751

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Based on a survey of households in 10Central Eastern European and Western Balkan countries, thispaper presents new and unique evidence on which householdshave savings and how they save. The paper shows that thepercentage of savers is low, and savings are frequentlyinformal. Formal savings are dominated by bank savings, andparticipation in contractual and capital market savings isvery low in comparison to high-income countries. Poorhouseholds are significantly less likely to have anysavings; income also has an effect, albeit smaller, on thechoice of formal versus informal savings. With a highdensity of bank branches in Central Eastern European andWestern Balkan countries lack of physical access to banksdoes not explain the lack of formal savings. Lack of trustin banks reduces the probability of formal savings,especially bank savings.