The Essence of the Deposit Behavior of Households and Features of Its Formation in the Conditions of Turbulent Development of the Financial Services Market

Abstract

Financial resources of households in most developed countries are the largest in volume, stable in terms of the development of the financial services market and economy as a whole. It is the development of the mechanisms for attracting these funds from economic entities, knowledge of the process of making financial decisions, is an important and integral part of forming a solid foundation for sustainable economic development. Accordingly, conducting research in this area is relevant and necessary. Thus, theoretical and methodological provisions for the formation of deposit behavior of households in current changing conditions of the financial services market is the subject of this research. Within the study, a range of classical scientific approaches is used. The following general and special research methods were used, namely: analysis, synthesis, content analysis, system approach and method of logical generalization, process approach, etc. Methods of graphic visualization of research results were used as well for better presentation. The purpose of the article is to study the nature and features of the formation of deposit behavior of households in the financial services market in terms of its transformation. Thus, as a result of the study, within the article, a detailed analysis of the essence of deposit behavior of households is carried out, and the author’s concept of the interpretation of the following categories “deposit behavior”, “deposit behavior of households” is formulated. The article identified and systematized the main factors influencing the formation of this type of behavior; these factors are divides into groups: endogenous and exogenous. The detailed consideration of the formation process of deposit behavior of households in the financial services market allowed to identify the main stages of its formation and to describe their features. It is established that the process of reflection of economic entities plays an important role in the formation process of deposit behavior of households, which highlighted the need to deepen theoretical issues of this direction. Accordingly, the essence of financial reflection is specified, the specific features of the implementation of reflective management of the formation process of deposit behavior of households in the financial services market is considered.