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State benefit - incentive for savings and investments

Author

Listed:
  • Claudia Isac

    (University of Petroșani, Romania)

  • Anca Jarmila Guță

    (University of Petroşani, Romania)

Abstract

The present paper aims to be an answer for many investors with financial powers, seeking financial instruments with yields above the average interest rate on the banking market. One such tool, fairly new to the Romanian banking market, has been implemented for about 14 years, and is becoming more and more an instrument for savings, investments or an aid in the purchase of a house. Regardless of the perspective presented in the table of contents, the incentive for choosing such a banking product is the state benefit, a form through which the administration creates the conditions necessary to update and develop the housing system. In the thesis I have explored aspects of legislation which, in such a short period of time have changed 3 times the amount and the method of granting the state benefit and I have also tried a quick historical and legislative evolution of the implementation of Bauspar system throughout Europe. It is pointed out that in comparison with other countries - namely Germany, England or Austria where this system is well-known and has been implemented for over 120 years - Romania is at the beginning of its journey, a fact proved especially by the number of signed contracts in relation to the number of inhabitants.

Suggested Citation

  • Claudia Isac & Anca Jarmila Guță, 2015. "State benefit - incentive for savings and investments," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 15(2), pages 63-70.
    • Handle: RePEc:pet:annals:v:15:y:2015:i:2:p:63-70
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    More about this item

    Keywords

    collective home purchase savings and loan system; state benefit; savings; saving period;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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