Gelir Dağılımının Tasarruflar Üzerindeki Etkisi: Hanehalkı Düzeyinde Bir Araştırma

Year 2018, Volume: 8 Issue: 1, 181 - 192, 30.03.2018

Serap Barış , Emre Çiftçi

Abstract

The relationship between saving and income distribution in in the centre of Neo-Keynesian growth models such as Lewis(1954), Kaldor(1957), Pasinetti(1962). These authors mostly focus on functional distribution of income (to the distribution among classes such as workers and capitalists) and state that income distribution is very important factor of savings. Such theories also claim that income inequalities have directly positive impact on savings because according to them, consumption tendency of working class is stronger than saving tendency of bourgeoisie.  For example, Lewis(1954) points out that main problem of economic development is positive correlation between income distribution and saving. Also, he states that only entrepreneurs earning profit can save in society and while the number of entrepreneur is increasing, total saving and investment is also increased, thereby accelerating capital stock and growth. Like Lewis, Kaldor assumes that working class spends all earnings, which means zero saving tendency, however, saving tendency of investors is high. Because of the fact that investors marginal saving rate is higher than that of working class, investors’ profit rate should be higher to increase savings. Therefore, an improvement in price level is necessary. On the other hand, Pasinetti (1962) says that capitalist class is the only investor in society and only earns profit. However, working class obtains profit and salary. Compared to Kaldor’s model, this model argues that the saving tendency of working class is not zero but very low and only factor that affects the saving tendency of working class is the distribution of national income among different classes such as working class and capitalists. In this model, income inequality will be deteriorated on behalf of capitalist class, which has higher saving rate than working class.

 

Latest
researches related to political economics put forwards that income inequality
has negative impacts on total savings by means of investment and economic
growth. There is a high demand for redistribution and taxation in societies
that have high income disparity. High taxation results in decreasing income
from investments. This is because the amount of investments under high taxation
will also decrease. Additionally, social unrest and political instability in
societies cause a decrease in investments and productivity, thereby reducing
saving rate.

As a result, although theoretical literature admits
that the income distribution affects aggregate saving amount, there is no
consensus about the relation between these two variables. It is also same for
empirical studies. In this study, the relation between income distribution and
saving amount has been analyzed for households in Tokat. Considering the
households savings constitutes important part of aggregate savings, saving
propensity would be detected according to occupation type of households with
this study. Besides, determinant factors of saving characteristics (saving
motivation, saving tool preference etc.) and attitudes of households would be
revealed. In accordance with this purpose, research data is compiled through
the survey based on one-to-one interviews with 430 households living in Tokat
city center via simple random sampling method in between 1^st of May
and 1^st July 2016. The data is analyzed via frequency and binary
logistic regression through SPSS Program. According to results, approximately
60% of households are able to save while 40% is not able or do not prefer to
save. As a major reason of not being able to save, households pointed out
indebtedness. Households who are able to save have pointed out that house or
car demand (51%), wealth outlook and education of children (41%), higher life standard
in the future (35%) and being cautious to contingency (32%) are the major
saving determinants. In terms of saving tools, under-the mattress gold saving
and demand deposits are major saving tools. Thus it can be said that
traditional saving tools are dominant. Logistic regression analysis findings
indicate that one unit increase in income may cause 1.621 fold increase in
saving amount. In this study, the income level is found as an important factor
that increases savings in line with the economic literature. Household’s high
school and college graduation increase saving probability. Similarly,
government employees and company owners are more likely to save than other
occupation types while probability of having a child decreases saving
propensity. Obtained results will guide saving policies as well as contribute
to knowledge in this field.

Keywords

Tasarruf, Gelir Dağılımı, Tokat

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