IDEAS home Printed from https://ideas.repec.org/a/spr/rrorus/v6y2016i1d10.1134_s2079970516010032.html
   My bibliography  Save this article

Regional and settlement aspects in the structure of nonfinancial wealth of Russian Households

Author

Listed:
  • T. Yu. Bogomolova

    (Siberian Branch, Russian Academy of Sciences)

  • T. Yu. Cherkashina

    (Siberian Branch, Russian Academy of Sciences)

Abstract

The paper present results obtained from analysis of data about nonfinancial assets owned by or at the disposal of Russian households. The study was based on data from Integrated Monitoring of Living Conditions of the Russian Population (Rosstat, 2011), representing the general population and federal districts. Taking into account the content of the database, the nonfinancial wealth of households included the following assets: primary residence and other residential property, cars and other vehicles, garage, land plots, and business ownership or equity. The main asset of families in Russia is their housing (which on average is owned by 86% households in the country); the next most common asset is land (in ownership or use, 49% households); the third leading assets is cars (owned by 37% of households). Each asset was assigned points accounting for its characteristics, which enabled us to integrally assess the property assets held by each household and to identify six layers characterized by their holdings of nonfinancial assets. The layers are arranged from the group with the least wealth to the group with the largest: the lowest layer (13.6% of households), base layers with holdings lower (30.3%) and higher (28.1%) than the average, and the layer with moderately high (16.2%) and the highest (5.8% of all households) holdings of nonfinancial assets; there was also a separate stratum of households with no assets (6.1%). The structure of owners with regard to each asset and the comprehensive (point-based) estimate of wealth of households are analyzed in the context of federal districts and settlements with different numbers of residents (less than 1000 people, 1000–50000, 50000–100000, 100000–500000, 500000–1000000, and more than 1 mln people). Differences in wealth are more closely related to the settlement characteristics of the place of residence than with regional ones. However, although the characteristics of the place of residence substantially increase the likelihood of a particular level of nonfinancial wealth for a household, their contribution is much less significant than the contribution of characteristics reflecting the efforts of household members to accumulate wealth and family stability.

Suggested Citation

  • T. Yu. Bogomolova & T. Yu. Cherkashina, 2016. "Regional and settlement aspects in the structure of nonfinancial wealth of Russian Households," Regional Research of Russia, Springer, vol. 6(1), pages 32-43, January.
    • Handle: RePEc:spr:rrorus:v:6:y:2016:i:1:d:10.1134_s2079970516010032
    DOI: 10.1134/S2079970516010032
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1134/S2079970516010032
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1134/S2079970516010032?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Paiella, Monica, 2007. "Does wealth affect consumption? Evidence for Italy," Journal of Macroeconomics, Elsevier, vol. 29(1), pages 189-205, March.
    2. Brian Bucks & Arthur B. Kennickell & Traci L. Mach & Kevin B. Moore, 2009. "Changes in U.S. family finances from 2004 to 2007: evidence from the Survey of Consumer Finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 95(2).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Philip Maymin & Zakhar Maymin, 2012. "Any regulation of risk increases risk," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 26(3), pages 299-313, September.
    2. L. Arrondel & P. Lamarche & F. Savignac, 2015. "Wealth Effects on Consumption across the Wealth Distribution: Empirical Evidence," Working papers 552, Banque de France.
    3. Fiaschi, Davide & Marsili, Matteo, 2012. "Distribution of wealth and incomplete markets: Theory and empirical evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 81(1), pages 243-267.
    4. Sriram Venkataraman & Gregor Matvos & Chad Syverson & Business & Business & Ali Hortacsu, 2010. "Are Consumers Affected by Durable Goods Makers’ Financial Distress? The Case of Auto Manufacturers," 2010 Meeting Papers 836, Society for Economic Dynamics.
    5. Andrea Neri & Maria Teresa Monteduro, 2013. "The housing wealth of Italian households: a comparison of administrative and survey data," Questioni di Economia e Finanza (Occasional Papers) 146, Bank of Italy, Economic Research and International Relations Area.
    6. Idrys Fransmel OKOMBI, 2018. "Empirical Measure of Wealth Effects in Household Consumption: The Case of Congo," Applied Economics and Finance, Redfame publishing, vol. 5(5), pages 33-44, September.
    7. Martin Brown & Matthias Hoffmann, 2016. "Relationship Banking in the Residential Mortgage Market? Evidence from Switzerland," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 152(1), pages 23-48, January.
    8. Eurosystem Household Finance and Consumption Network, 2013. "The Eurosystem Household Finance and Consumption Survey - Results from the first wave," Statistics Paper Series 2, European Central Bank.
    9. Sauro Mocetti, 2012. "Educational choices and the selection process: before and after compulsory schooling," Education Economics, Taylor & Francis Journals, vol. 20(2), pages 189-209, February.
    10. Andrea Brandolini & Luigi Cannari & Giovanni D’Alessio & Ivan Faiella, 2006. "Household Wealth Distribution in Italy in the 1990s," Chapters, in: Edward N. Wolff (ed.), International Perspectives on Household Wealth, chapter 7, Edward Elgar Publishing.
    11. Wong, Wang-Li & Law, Siong Hook & Said, Rusmawati & Chin, Lee, 2015. "Consumption and Housing Wealth: A Malaysian Case that Demonstrates a Negative Relationship," MPRA Paper 96866, University Library of Munich, Germany.
    12. Janusz Jabłonowski, 2021. "MPC out of Augmented Wealth in Poland," Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 13(3), pages 253-286, September.
    13. Arrondel, Luc & Lamarche, Pierre & Savignac, Frédérique, 2019. "Does inequality matter for the consumption-wealth channel? Empirical evidence," European Economic Review, Elsevier, vol. 111(C), pages 139-165.
    14. Pirmin Fessler & Peter Mooslechner & Martin Schürz & Karin Wagner, 2009. "Housing Wealth of Austrian Households," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 104-124.
    15. Mengus, Eric & Roberto Pancrazi, 2015. "The Inequality Accelerator," Economic Research Papers 270216, University of Warwick - Department of Economics.
    16. Duca, John V. & Muellbauer, John & Murphy, Anthony, 2010. "Housing markets and the financial crisis of 2007-2009: Lessons for the future," Journal of Financial Stability, Elsevier, vol. 6(4), pages 203-217, December.
    17. Jing Jian Xiao & Rui Yao, 2011. "Debt Holding and Burden by Family Structure in 1989-2007," NFI Working Papers 2011-WP-04, Indiana State University, Scott College of Business, Networks Financial Institute.
    18. Hori Masahiro & Niizeki Takeshi, 2019. "Housing Wealth Effects in Japan: Evidence Based on Household Micro Data," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 19(2), pages 1-28, April.
    19. Annamaria Lusardi & Olivia S. Mitchell & Noemi Oggero, 2020. "Debt and Financial Vulnerability on the Verge of Retirement," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(5), pages 1005-1034, August.
    20. Renata Bottazzi & Serena Trucchi & Matthew Wakefield, 2013. "Wealth effects and the consumption of Italian households in the Great Recession," IFS Working Papers W13/21, Institute for Fiscal Studies.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:rrorus:v:6:y:2016:i:1:d:10.1134_s2079970516010032. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.