Liquidity Constraints and Consumer Impatience

Abstract

In recent years significant changes have been observed in household saving and consumption behaviour in several transition countries including Hungary. In the second half of the 1990s the financial saving rate fell markedly and household borrowing surged. These developments are not unique to Hungary, they correspond to the experience of other emerging countries, and they can be attributed above all to financial liberalisation and modernisation and the improving permanent income prospects of households, with prospective EU accession playing an important role in the improving income perception. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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