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The Study of Properties and Functions of a National Savings System Based on the Concept of Emergence

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  • Valeriya V. Litvin

    (Financial University under the Government of the Russian Federation)

Abstract

The research centres on identification of emergent properties of a national savings system. The system’s exceptional role in the processes of accumulation and use of internal reproduction resources for the purposes of sustainable development of national economies conditions the need to study it as an independent complex object. In this regard, the article defines and reveals the integral properties of the national savings system, which allow distinguishing it from other related systems, identifying the level of its complexity and describing the control mechanism. Since the concept of emergence gives ideas about the integrity of any system, the proportion of its elements, the hierarchy of its levels, it provided the methodological basis for studying the relationship between the integral properties, functions, institutions of savings system. The author performs a comparative analysis of the savings system’s functions and prove the thesis that the concept of emergence serves as the theoretical basis for developing an effective mechanism for forming a progressive savings system with predetermined properties taking into account the features of the post-industrial civilization.

Suggested Citation

  • Valeriya V. Litvin, 2018. "The Study of Properties and Functions of a National Savings System Based on the Concept of Emergence," Journal of New Economy, Ural State University of Economics, vol. 19(1), pages 26-37, February.
    • Handle: RePEc:url:izvest:v:19:y:2018:i:1:p:26-37
    DOI: 10.29141/2073-1019-2018-19-1-3
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    References listed on IDEAS

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    1. Veronica Guerrieri & Guido Lorenzoni, 2017. "Credit Crises, Precautionary Savings, and the Liquidity Trap," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(3), pages 1427-1467.
    2. Yu. Kashin, 2000. "Savings Process and the Savings Bank," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 5.
    3. Antonino Buscemi & Alem Hagos Yallwe, 2012. "Fiscal Deficit, National Saving and Sustainability of Economic Growth in Emerging Economies: A Dynamic GMM Panel Data Approach," International Journal of Economics and Financial Issues, Econjournals, vol. 2(2), pages 126-140.
    4. Michael Hudson, 2013. "Capital gains, total returns and saving rates," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(2), pages 221-230.
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    More about this item

    Keywords

    national savings system; emergent property; functions; institutional structure;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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