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The Macroeconomic Drivers for Household Deposits Growth in the Eurozone

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  • Emilia Anuta Corovei
  • Adela Socol

Abstract

We analyzed the potential impact of macroeconomic indicators on deposit growth rate in the Eurozone area during January 2003-June 2019. We used OLS methodology (Ordinary Least Squares). We run specific tests for multicollinearity and stationarity and we added robust standard errors to correct heteroskedasticity for our panel data. The macroeconomic variables used in our analysis are: GDP annual growth rate, Inflation rate, Harmonized unemployment rate, Interest deposit rate, with agreed maturity lower than a year and also Interest deposit rate, with agreed maturity greater than a year, short-term debt securities, long-term debt securities and listed shares. Besides the unemployment rate, all the other variables have a positive impact on the household deposits growth rate.

Suggested Citation

  • Emilia Anuta Corovei & Adela Socol, 2019. "The Macroeconomic Drivers for Household Deposits Growth in the Eurozone," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 5(3), pages 144-151, September.
    • Handle: RePEc:khe:scajes:v:5:y:2019:i:3:p:144-151
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    References listed on IDEAS

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    More about this item

    Keywords

    Households deposits growth rate; Macroeconomic variables; Eurozone;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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