Financial Behavior of the Population during the 2014–2015 Economic Crisis

Belekhova, Galina; Basova, Elena

doi:10.15838/esc.2019.4.64.9

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“…Here can be cited analyzes proving that people experiencing the financial crisis of 1929-1933 showed then much higher financial risk aversion (Cogley & Sargent, 2008). During the 2014-2015 crisis in Russia, people accumulated more savings in cash and their consumer activity decreased significantly (Belekhova & Basova, 2019). In addition, the macroeconomic conditions in which people grow up also influence their risk-taking and financial management preferences.…”

Section: Literature Reviewmentioning

confidence: 98%

Money Attitudes and Personal Finances During the COVID-19

Sadowska

2021

SER

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Background: Most of the research relates to previous major financial crises. The current coronavirus crisis is still ongoing, so the current analysis focuses primarily on people's current preferences based on surveys.Research objectives: This work focuses on the analysis of the financial preferences of the group of people living and working in the Małopolskie Voivodeship in the last year. The choice of the form of making purchases, payments as well as savings and investments in the face of limitations caused by COVID-19 were analysed.Research design and methods: The adopted analytical-synthetic method is calculated to signal specific areas raising ethical doubts. Their exemplification leads to an attempt to define the key problem of modern finance, which is breaking away from the foundation of ethical values and, consequently, abandoning the common good as the social goal of all human activity. Results: The obtained results do not allow for the conclusion that in the analysed group, money attitudes significantly differentiate the financial choices of respondents during the restrictions related to COVID-19. The analysis of other factors related to the preferences of financial management allows for partial confirmation of hypothesis regarding the interest in online shopping and non-cash forms of payment has increased.. Conclusions: The papers proved that the restrictions related to the coronavirus resulted in a significant increase in interest in new technologies, online shopping and modern payment methods.

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Section: Literature Reviewmentioning

confidence: 98%

Money Attitudes and Personal Finances During the COVID-19

Sadowska

2021

SER

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Financial Behavior of the Population during the 2014–2015 Economic Crisis

Cited by 1 publication

References 0 publications

Money Attitudes and Personal Finances During the COVID-19

Money Attitudes and Personal Finances During the COVID-19

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