Impact of the Gross Regional Product and Total Monetary Income of the Population on Savings Behavior in the Regions of Russia

The search for factors that could explain the formation of stable savings behavior of the population while taking into account regional conditions, remains relevant for ensuring the sustainability of a country's banking system. The aim of the study is to identify possible relationships between the indicators of gross regional product, total monetary income and deposits of the population in the regions of Russia. Within the framework of the study, the hypothesis is set and tested about the existence of a pattern between the savings behavior of the population and the share of its income relative to the gross regional product. An index method is used to determine the ratio of the indicators under consideration. Three indices are calculated: the ratio of the increase in deposits of the population, the ratio of the increase in deposits of the population to the volume of monetary income of the population of the region, and the ratio of the volume of monetary income of the population of the region to gross regional product. The latter index has not been used previously in studies of the savings behavior of the population. Additionally, the method of graphical matching of indices with scattering chart construction is applied. The indicators of the regions of Russia are divided into four clusters according to the criterion of deviation from the average values in the country. As a result, various models of behavior of depositors are determined. In 21 regions classified under cluster I and IV, there is a direct proportional relationship between the indicators considered, namely, a low tendency to save with a low share of per capita income to gross regional product. In 64 regions classified as clusters II and III, an inverse relationship between the indicators under consideration was formed, which indicates the predominance of such a model in Russia as a whole and confirms the hypothesis put forward for most regions. The distribution of the regions of the clusters according to relativity criteria from the average Russian values allows you to quickly assess the state of savings behavior of the population and predict this factor when analyzing the stability of regional banking systems within the practical activities of the territorial administrations of the Central Bank of Russia. It can also be used by credit organizations to develop interregional expansion programs.