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Influence of households’ finances in ukraine on indicators of their mobility and socio-economic development of the state

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Category: Economy and management

Last Updated on 02 October 2016

Published on 02 October 2016

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Authors:

S.V.Kalambet, Dr. Sc. (Econ.), Prof., Dniprodzerzhynsk State Technical University, Dniprodzerzhynsk, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

O.V.Zolotariova, Cand. Sc. (Econ.), Assoc. Prof., Dniprodzerzhynsk State Technical University, Dniprodzerzhynsk, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Yu.V.Pivniak, Cand. Sc. (Econ.), Assoc. Prof., Dniprodzerzhynsk State Technical University, Dniprodzerzhynsk, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.

Abstract:

Purpose. Identifying the impact of households’ finances in Ukraine on their mobility in the labour market, social and economic indicators, indicators of fiscal sector and monetary market.

Methodology. The study was done with the help of the following methods: a systematic approach – for a comprehensive study of such a complex research object as households’ finances as a single integrated system; method of grouping – in the formation of uniform indicators groups (households’ mobility in the labour market, social and economic indicators, indicators of the fiscal sector and monetary market) for association of the studied units in a partial entity; correlation analysis – to study the interdependence of the indicators selected for analysis (households’ finances and the above mentioned groups of indicators) and establish causal links between them; dynamic analysis – to characterize the change of the selected parameters to analyse and identify major trends and patterns of development.

Findings. Based on a detailed analysis of the structure of income and expenditure of households, it was found that, firstly, the primary source of the money income of households in Ukraine is wages, secondly, the dynamics of households’ expenditures show that there is an increase in consumptive use of revenues, while their structure is sub-optimal because of excessively big share of food expense and too low non-consumptive expenses; thirdly, households are characterized by a low level of mobility, irrational behaviour, limited investment potential of savings. It is proved that the amount and structure of household’s finance dynamics produces influence on the parameters selected for analysis (mobility, socio-economic, fiscal sector and monetary market), and it is inverse regarding indicators of mobility in the labour market and the consumer price index, but directly proportional to other selected indicators. The presence of mostly strong and very strong correlation is confirmed by socio-economic indicators, indicators of the fiscal sector and the monetary market. The proposed state reforms in the context of addressing the identified issues should concern: the active involvement of households into the investment process by strengthening the level of trust and ensuring their rights, comprehensive promotion and development of self-employment and entrepreneurship; employment through optimization of regional labour markets, increasing investment in education and training; creating conditions for the return of skilled emigrants into the country; development of national and regional models of alignment and depolarization of the employment conditions of the various categories of workers and types of economic activity; coordination of the state tax policy and the policy of wages level regulation, differentiation of work payment according to the area of employment and the region.

Originality. Theoretical concepts have been supplemented, firstly, by ideas about the essence of household finances by defining specific difference between household, state and commercial finances as reflected in methods of forming incomes and financial resources, as well as in the areas and structure of their spending and saving. Secondly, ideas about household mobility have been developed, which is understood as transformation of professional, social, and geographic affiliations of the household members resulting from the response to inner motivation and regulatory impact of institutional environment via selection of the specific forms and lines of mobility. The necessity to shift priorities in the state regulation system from general support of socially unprivileged strata of the society to developing mechanisms of stimulating population mobility has been further substantiated. The authors suggest using a certain arrangement of parameters which allow clarifying the influence of household finances on characteristics of their mobility and tendencies of social and economic development of Ukraine.

Practical value. If public authorities take into close account conclusions and recommendations presented in the paper, it will promote economic growth in Ukraine, which requires immediate changes in the regulation of households’ finance and shift from the support of socially vulnerable population to stimulation of economic activity and household mobility.

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