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Title: | COVID-19 and the size and composition of household savings in the European Union countries |
Authors: | Banaszczak-Soroka, Urszula Pancer-Cybulska, Ewa |
Keywords: | COVID-19 Pandemic, 2020- -- Influence COVID-19 Pandemic, 2020- -- Economic aspects Home economics -- European Union countries Savings accounts |
Issue Date: | 2021 |
Publisher: | University of Piraeus. International Strategic Management Association |
Citation: | Banaszczak-Soroka, U., & Pancer-Cybulska, E. (2021). COVID-19 and the size and composition of household savings in the European Union countries. European Research Studies Journal, 24(s3), 963-972. |
Abstract: | PURPOSE: This paper aims to examine the impact of the pandemic on the size of household
financial savings in 2020 in all EU countries, not only in terms of value but also in terms of
the composition of financial instruments in the portfolio (expressed in current prices) and the
dynamics of their change. DESIGN/METHODOLOGY/APPROACH: The paper uses descriptive analysis, statistical inference, literature review, and act analysis. The size and composition of household savings between 1Q/2018 and 4Q/2020 for the EU Member States are assessed. FINDINGS: Based on studies carried out, it should be concluded that there is a significant stratification of household savings in EU countries. The dynamics of changes in savings and the share of analyzed elements of the portfolio varied considerably across nations. There was a significant repricing of financial instruments in 1Q/2020 compared to 4Q/2019. PRACTICAL IMPLICATIONS: The research results can be used by various institutions operating in the financial sector to shape investment strategies for savings accumulated by households. ORIGINALITY/VALUE: The study addresses the critical and relevant issue of the size and structure of household savings in the EU-27 countries affected by the pandemic. It caused a profound upheaval of entire economies and consequently affected every individual. Due to the size of the publication, many aspects that may have a direct or indirect impact on the category under study (of savings) were not considered, such as GDP value, disposable income, unemployment rate, inflation, and many other factors that have sometimes undergone radical changes in the EU countries. Arguably, such a broad approach would significantly enhance the cognitive value of the article. |
URI: | https://www.um.edu.mt/library/oar/handle/123456789/105885 |
Appears in Collections: | European Research Studies Journal, Volume 24, Special Issue 3 |
Files in This Item:
File | Description | Size | Format | |
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ERSJ24(s3)A69.pdf | 270.54 kB | Adobe PDF | View/Open |
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