THE EFFECT OF THE COVID-19 PANDEMIC ON SAVING BEHAVIOUR: CASE OF ROMANIA
In contemporary society, at the macroeconomic level as well as at the individual level, of person or society, economies play a key role with a direct impact on the behaviour of the population. In the context of the COVID-19 pandemic, this study systematically explored whether and why the health cr...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Editura Univeristatii "Stefan cel Mare" din Suceava
2022-12-01
|
| Series: | USV Annals of Economics and Public Administration |
| Subjects: | |
| Online Access: | http://annals.feaa.usv.ro/index.php/annals/article/view/1422/1120 |
| Summary: | In contemporary society, at the macroeconomic level as well as at the individual level, of person or society,
economies play a key role with a direct impact on the behaviour of the population. In the context of the COVID-19
pandemic, this study systematically explored whether and why the health crisis stimulates consumers’ preference for
savings (over spending). The purpose of this paper is to analyse the preferences of the population but also of the
economic agents regarding the investments in bank deposits, investments made by them both at European and national
level. The analysis consists in the analysis of the evolution of savings in Romania but also in other European countries
and is based on the data published by the Central Bank of Romania in the NBR statistics, FGDB statistics but also the
data published by Eurostat. Savings are also analysed by institutional sectors, with a focus on the household sector and
non-financial corporations. The results of the study show that in order to better cope with future uncertainties and
risks, individuals can reserve resources and increase their saving behaviour. It is also observed that individuals facing
a pandemic save more than in periods of stability.
|
|---|---|
| ISSN: | 2285-3332 2344-3847 |