An Allocation Analysis of Polish Household Savings Invested in Financial Assets, 2003 – 2014

Abstract

123This article addresses the allocation of Polish household savings that are invested in financial assets. As an economic category, these savings are very important in every country because they determine investments in the national economy, thereby influencing a country's further economic growth and development. From this point of view, investigating both the allocation of personal savings and their structure is essential because they change due to changing economic circumstances, changing situations in the world's financial markets, especially in the stock exchange markets, and the development of financial markets. The main purpose of this article is to analyze the changes in the allocation of savings in Polish households and the structure of their investment in financial assets. These changes, which are empirically observed, result from the circumstances of the national economy, which affect the behavior of investors in the stock market and determine the interest rate levels. The analysis is conducted on the basis of trend models with variations of parameters. The analysis has been carried out for the period Q4 2003 -Q3 2014. IntroductionThe savings of households are a very important economic category in any economy and influence its development. The allocation of these savings is particularly essential, thus making it the subject matter of this paper. Personal savings have a direct impact on economic investment. The allocation of these savings attests to the inflow of capital to those sectors savings of the Polish households, financial assets, analysis of allocation and its structure, trend models with variations of parameters

Gender differences in financial behaviours

“…The issue of proper behaviours on the financial market is essential from the perspective of individual interest as well as for the economy of the whole country. Such behaviours have impact not only on the financial status and wealth level of household members, but also on the economic growth and well-being of the society (Ciegis et al, 2017;Debski & Swiderski, 2016). At this point it is important to refer to the research conducted by other authors worldwide regarding financial decisions of men and women.…”

“…The results of these analyses, particularly those conducted in the countries with more established economies, might be helpful in analysing and drawing conclusions from the research conducted in Poland, itself recognised as a developed country only recently. Such analysis is essential as the level of savings as well as the level of economic knowledge among Poles remains low (Debski & Swiderski, 2016;Kolasa & Liberda, 2015). Nonetheless, without establishing traits and factors which determine a willingness to undertake financial decisions by men and women, it is not possible to influence their attitudes regarding conscious financial decisions that could have a positive impact on their financial status.…”

Does Consumer Confidence Forecast Household Saving and Borrowing Behavior? Evidence for Poland

“…Because these countries are emerging market economies that have relatively less experience in dealing with financial crises, research on household financial behavior is particularly relevant. Some aspects of changes in household saving behavior in Poland were discussed by, among others Roszkiewicz ( 2006 ), Rytelewska and Kłopocka ( 2010 ), Debski and Swiderski ( 2011 ), Liberda and Pęczkowski ( 2012 ), Anioła and Gołaś ( 2013 ), Kośny and Piotrowska ( 2013 ), Roszkiewicz ( 2014 ), and Kolasa and Liberda ( 2015 ). This paper contributes to filling the gap in the literature by addressing the issue of household saving and borrowing behavior in the context of changing consumer confidence in Poland.…”

Students’ Attitudes Towards Savings and Investment: The Case of Poland

“…The author mentioned that the chosen type of long-term saving depends on how much money people have and how long they want to save it. Dębski and Świderski (2016) analyzed the dynamics and allocation of Polish household savings invested in financial assets in 2003-2014. The study showed that along with the improvement of Poland's economic conditions, the proportion of personal savings allocated to shares and mutual funds increased, and the proportion of savings allocated to deposits and debt securities decreased.…”