Impact of Modernization on Consumption in Russia
|Author:||Bc. Klim Kalinichev|
|Year:||2021 - summer|
|Leaders:|| doc. Ing. Tomáš Cahlík CSc.
|Work type:|| Bachelors
|Awards and prizes:|
|Abstract:||This study examines the various effects of socioeconomic indicators related to
modernization on four different shares of consumption expenditures in Russia at the
household level over 2004-2018 using fixed-effects, random-effects, and GMM panel
data estimators. The results present that socioeconomic indicators have an impact on the
level of household expenditures, although this effect is not very strong for some variables.
It was found that urbanization has a positive impact on the household expenditures on
restaurants, and education is positively linked with expenses on recreation and culture.
Unanticipated outcomes are associated with the effect of income on expenditures on
education and consumption of food. Additionally, more significant effects have been
discovered that influence the shares of household expenditures. The evidence obtained
from this research contributes to the existing literature on modernization and
socioeconomic indicators that influence final household consumption.