UDC 330.567.2:336.717.3; JEL D14, G21
Zaslavska, O. I. (2016). Osoblyvosti formuvannya zaoshchadzhen' naselennya u Zakarpats'kiy oblasti [Peculiarities of residents’ savings forming in Transcarpathian region]. Rehional'na ekonomika - Regional Economy, 82(4), 39-44. [in Ukrainian].
Sources: 6

Authors

Resume

Transformation of Ukraine’s economy is accompanied by financial autonomy of the regions. Therefore, the problem of finding sources in order to finance investment is often solved at the regional level. An important source of resources required by regional economy are households’ savings in the form of bank deposits. In modern conditions the choice of saving behavior of individuals is determined by factors of socio-economic, financial and psychological nature as well as regional peculiarities.
Transcarpathian region is unique in economical and geographical location, it borders with four EU countries. Almost 80% of the territory are highlands and the share of rural population is 63% of its total number. Specific features of the region can be observed in the structure of income and spendings. For example, income and spendings per household in the region are much higher than the average value of the same indicators in Ukraine. The study showed that the majority of the household spendings are used for consumption purposes. In the structure of non-consumer spendings in Transcarpathian region the biggest shares belong to spendings on the households and organized savings in the form of bank deposits.
Analysis showed that the share of deposit accounts of the Transcarpathians in the middle of 2016 was only 1.11% of the total deposit resources of Ukrainian banks. In the retail deposit portfolio dominated the deposits of up to 1 year. It was discovered that deposit interest rates of banks in Transcarpathian region are significantly lower than average indicators ??in Ukraine. Taking into account that the level of interest rates on deposits is the best financial stimulus, regional banking institutions should review its interest rate policy.
The other contentious issue is a currency of savings. For Transcarpathians this aspect is extremely important because every year about 300 thousands of countrymen go to work abroad. According to the current situation in Ukraine experts are against investment in local currency, arguing that the risks of devaluation are higher than the possible income on bank deposits. At the moment Ukraine is in quite difficult socio-economic and political situation, which cause skeptical attitude to banks and national currency. In addition, inflation often does not cover income from bank deposits. Therefore, it is highly recommended to diversify the deposit portfolio of individuals.
The article demonstrates that it is appropriate to take into account regional peculiarities while forming the deposit and interest rate policy in banks. At the current level of interest rates on deposits of individuals in the Transcarpathian region banks should encourage people to increase deposits by provision of additional services. According to the specificity of the region the banks should elaborate special deposit programs. Seasonality of agricultural works is always topical issue for most of the population of the region. Therefore, it is advisable to create special calendar deposit programs for individuals related to the formation of deposits to cover future agricultural expenditures. Such client-oriented approach could encourage households to save money in the organized form in banks.

Keywords:

Transcarpathian region; household savings; organized savings; deposits of individuals; interest rates on deposits

References


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