The assessment of government incentives on savings, Hungary 2006–2019
DOI : 10.1556/032.2021.00040
MTMT : 32588636
Megjelenés dátuma : 2021
Folyóirat címe : Acta Oeconomica
Évfolyam : 71
Szám : 4
Oldalszám : 569-585
Dokumentum típusa : folyóiratcikk
Kulcsszó : government incentives, household savings, breakpoint test, behavioural life cycle hypothesis, Hungary, Társadalomtudományok, Közgazdaságtudományok
Absztrakt :
This study analyses the effectiveness of government incentives on household savings in Hungary prior to the Covid pandemic and the ensuing economic turmoil. Time series pertaining to life insurance, voluntary pension savings, and long-term and short-term government bonds are tested in relation to government incentives. The novelty of this study is the test on complex mix of policy incentives and saving funds. The analysis applies the multiple breakpoint test and OLS regression, based on the behavioural life cycle hypothesis. The conclusion is that in the analysed time period the government incentives had a significant effect and promoted savings behaviour, with the exception of short-term government bonds.