Malkina M.Yu. National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation email@example.com
Khramova I.Yu. National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation firstname.lastname@example.org
Importance The article deals with the issues of savings of the population in the Russian Federation and its regions and the factors that determine the savings. Objectives The article aims to identify the mechanisms and the most significant factors in generating the savings of the population and explain their underlying interregional differences in the level of savings in the constituent entities of the Russian Federation. Methods For the study, we used income discounting, correlation and regression, econometric, and graphical analysis methods. Results We calculate average savings rates and the elasticity of current savings with respect to current incomes for the regions of the Russian Federation. Based on data from the Russian regions, we develop econometric models for the generation of per capita current consumption and accumulated savings, represented as a proxy variable, and the average personal deposits per capita. Conclusions and Relevance The models developed show the significant impact of discounted revenues, agglomeration effect, wealth, demographic structure of the population, and level of financial development of the region on the level of per capita savings in regions. The results may be useful for further development of the economic theory of savings and for managing savings processes at the regional and interregional levels.
Keywords: personal savings, determinants, region, model
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