Life-Cycle Hypothesis of Savings and Consumption in Russia

Student: Zhivlova Tatiana

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2018

Bachelor Term Paper on topic: Life-Cycle Hypothesis of Savings and Consumption in Russia. The paper includes: 44 pages, 7 tables, 9 figures, 7 formulas, 2 appendices and 36 used sources. Keywords: life-cycle, household savings rate, elderly dependency ratio, ARDL model, cointegration. Goal of the paper is to reveal whether the Life-Cycle Hypothesis can be applied to Russian economy as well as to identify the main trends in consumption-saving behaviour of Russian households. The paper firstly establishes the background situation for both the life-cycle research and the Russian savings. Then, applying the quarterly data for 2008 - 2017 period and the ARDL-ECM approach, positive relationship is identified between the elderly dependency ratio and the household savings rate. Thus, the violation of researched theory is confirmed for the country in question. Paper's findings aid future investigations into the field and provide value for considerations of socio-economic government policies.

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