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Macroeconomic Determinants Of Household Consumptions In Georgia

Author

Listed:
  • AZER DILANCHIEV

    (Department of Economics, Faculty of Business and Technologies, International Black Sea University, 4 Grigol Feradze Street, Tbilisi, Georgia)

  • TENGIZ TAKTAKISHVILI

    (��Faculty of Business and Technology, Georgian National University SEU, 9 Tsinandali Street, Tbilisi, Georgia)

Abstract

Household consumption and the variables driving it have garnered extensive attention in economic literature. GDP per capita, gross savings, and inflation are among the macroeconomic variables typically considered to affect household spending. The paper examines the effect of these macroeconomic variables on household consumption using the ARDL model. The yearly aggregate data utilized in this analysis spans the period from 1983 to 2018. The paper found a long-run negative relation between household final consumption expenditure and gross domestic saving in the long run. The study showed positive and significant long-run relationships between GDP per capita and household consumption and a significant and negative relationship between savings and household consumption both in the short and long runs.

Suggested Citation

  • Azer Dilanchiev & Tengiz Taktakishvili, 2021. "Macroeconomic Determinants Of Household Consumptions In Georgia," Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 16(04), pages 1-16, December.
    • Handle: RePEc:wsi:afexxx:v:16:y:2021:i:04:n:s2010495221500202
    DOI: 10.1142/S2010495221500202
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