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DETERMINANTS OF SAVINGS IN THE COUNTRIES OF THE VISEGRAD GROUP: FOCUS ON CRISIS PERIOD
Abstract
The financial crisis negatively affected the economic growth and performance of the European Union countries. This fact is in general associated with a reduction in household income. Nevertheless, some of the economies experienced an increasing savings rates just in the year 2009. That is the case of Visegrad countries also. The aim of this article is from a macroeconomic perspective to identify main determinants and their impact on savings creation with focusing on period of financial crisis in countries of Visegrad group. That means in which way these factors affected the rates of saving in selected countries. On the basis of the findings by means of used linear regression analysis of panel data comprising all determinants is explained the trend of savings rates in Visegrad Group and made comparison of results from regression analysis with economic theory.
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