Demographic transition and household saving in the Philippines
Date
2004-03
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Abstract
This paper evaluates the impact of demographic transition on household saving. Particularly, it asks how much of Philippine household saving could be attributed to its demographic features. An Ordinary Least Squares Regression model was constructed using total household saving for the year 2000 as dependent variable; and working ratio and household age as the relevant demographic variables. Results show that demographic variables significantly affect household saving.
In particular, the working ratio, which is defined as the ratio of the number of working individuals to the total family size, is found to highly affect household saving. Moreover, age categories show that life cycle saving is consistent to Philippine household saving behavior.
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Keywords
Household saving, Household spending, Demographic transition, Saving behavior, Household behavior