Determinants of Private Sector Deposits in Russia

Student: Arteeva Valeriia

Supervisor: Albina N. Rasskazova

Faculty: St.Petersburg School of Economics and Management

Educational Programme: Economics (Bachelor)

Year of Graduation: 2018

Nowadays, Central Bank of Russia is concerned that the volume of private savings may decrease because of the rate cut, which may lead to increasing population consumption. Accordingly, it can mean transition from a savings model of behavior to a consumer one. Private savings are one of the most important source of economic development, investment and lending to the economy. Thus, the main aim of the monetary policy is to preserve the model of savings behavior of population or to make transition to the consumer model softer. This study investigates the determinants of long-term deposits in Russia from 1999 to 2018, considering the crisis effect of 2008 and 2014. The results of this research define of the conditions that provide a "soft transition" between two behavioral models.

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