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

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

Based on a survey of households in 10 Central Eastern European and Western Balkan countries, this paper presents new and unique evidence on which households have savings and how they save. The paper shows that the percentage of savers is low, and s...

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Bibliographic Details
Main Author: Beckmann, Elisabeth
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2019
Subjects:
HOUSEHOLD SAVINGS
SHARED PROSPERITY
PORTFOLIO CHOICE
SURVEY DATA
FINANCIAL LITERACY
BANK SAVINGS
Online Access:http://documents.worldbank.org/curated/en/919071550592981050/Household-Savings-in-Central-Eastern-and-Southeastern-Europe-How-Do-Poorer-Households-Save
http://hdl.handle.net/10986/31314
id okr-10986-31314
recordtype oai_dc
spelling okr-10986-313142021-09-13T12:21:16Z Household Savings in Central Eastern and Southeastern Europe : How Do Poorer Households Save? Beckmann, Elisabeth HOUSEHOLD SAVINGS SHARED PROSPERITY PORTFOLIO CHOICE SURVEY DATA FINANCIAL LITERACY BANK SAVINGS Based on a survey of households in 10 Central Eastern European and Western Balkan countries, this paper presents new and unique evidence on which households have savings and how they save. The paper shows that the percentage of savers is low, and savings are frequently informal. Formal savings are dominated by bank savings, and participation in contractual and capital market savings is very low in comparison to high-income countries. Poor households are significantly less likely to have any savings; income also has an effect, albeit smaller, on the choice of formal versus informal savings. With a high density of bank branches in Central Eastern European and Western Balkan countries lack of physical access to banks does not explain the lack of formal savings. Lack of trust in banks reduces the probability of formal savings, especially bank savings. 2019-02-21T21:38:37Z 2019-02-21T21:38:37Z 2019-02 Working Paper http://documents.worldbank.org/curated/en/919071550592981050/Household-Savings-in-Central-Eastern-and-Southeastern-Europe-How-Do-Poorer-Households-Save http://hdl.handle.net/10986/31314 English Policy Research Working Paper;No. 8751 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Europe and Central Asia Eastern Europe
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic HOUSEHOLD SAVINGS
SHARED PROSPERITY
PORTFOLIO CHOICE
SURVEY DATA
FINANCIAL LITERACY
BANK SAVINGS
spellingShingle HOUSEHOLD SAVINGS
SHARED PROSPERITY
PORTFOLIO CHOICE
SURVEY DATA
FINANCIAL LITERACY
BANK SAVINGS
Beckmann, Elisabeth
Household Savings in Central Eastern and Southeastern Europe : How Do Poorer Households Save?
geographic_facet Europe and Central Asia
Eastern Europe
relation Policy Research Working Paper;No. 8751
description Based on a survey of households in 10 Central Eastern European and Western Balkan countries, this paper presents new and unique evidence on which households have savings and how they save. The paper shows that the percentage of savers is low, and savings are frequently informal. Formal savings are dominated by bank savings, and participation in contractual and capital market savings is very low in comparison to high-income countries. Poor households are significantly less likely to have any savings; income also has an effect, albeit smaller, on the choice of formal versus informal savings. With a high density of bank branches in Central Eastern European and Western Balkan countries lack of physical access to banks does not explain the lack of formal savings. Lack of trust in banks reduces the probability of formal savings, especially bank savings.
format Working Paper
author Beckmann, Elisabeth
author_facet Beckmann, Elisabeth
author_sort Beckmann, Elisabeth
title Household Savings in Central Eastern and Southeastern Europe : How Do Poorer Households Save?
title_short Household Savings in Central Eastern and Southeastern Europe : How Do Poorer Households Save?
title_full Household Savings in Central Eastern and Southeastern Europe : How Do Poorer Households Save?
title_fullStr Household Savings in Central Eastern and Southeastern Europe : How Do Poorer Households Save?
title_full_unstemmed Household Savings in Central Eastern and Southeastern Europe : How Do Poorer Households Save?
title_sort household savings in central eastern and southeastern europe : how do poorer households save?
publisher World Bank, Washington, DC
publishDate 2019
url http://documents.worldbank.org/curated/en/919071550592981050/Household-Savings-in-Central-Eastern-and-Southeastern-Europe-How-Do-Poorer-Households-Save
http://hdl.handle.net/10986/31314
_version_ 1764474042879836160

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