Analysis of the trends and determinants of credit and saving behavior of households in the Russian regions

Objective: to identify the current trends and factors of credit and savings behavior of the Russian households.

Methods: graphical method, logit model, probit model, maximum likelihood method.

Results: the development of digital services, the acceleration of inflation and the increase in debt burden resulting from the pandemic have changed the model of economic behavior of households. The need to analyze credit and savings behavior has become more acute in order to empirically substantiate the measures of economic, legal and financial support of households by state institutions. The analysis showed an increase in the average loan amount and the proportion of families whose members took a loan; a decrease in the proportion of families who borrowed from individuals, lent money and made savings; a sharp increase in the variation of the amount of credit and savings in 2019; a decrease in the number of commodity loans and an increase in the number of consumer and mortgage loans. A positive effect of the number of people in the household, place of residence, income, availability of a computer, laptop and high-speed Internet access in the household on the probability of attracting credit funds was found; a negative influence of the number of people in the household and place of residence (village) on the probability of savings was confirmed; the impact of having a computer and high-speed Internet access on the probability of savings in the household was not found.

Scientific novelty: the article uses data from the Russian Monitoring of the economic situation and public health of the HSE University for the period from 2010 to 2019 to identify the current trends and factors of credit and savings behavior of the Russian households.

Practical significance: the main conclusions of the article can be used in scientific and practical activities in the development of financial literacy programs, policies and online products to motivate and encourage credit and savings behavior and attract investment.

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