International Congress on Eurasian Economies
26-28 June 2024 – Bishkek, KYRGYZSTAN
Paper properties
Paper ID : 2899
Status : Paper accepted
Language : English
Topic : Finance and Financial Crises
Presenter: Assoc. Prof. Dr. Khicheza Fynchina
Session : 4A Growth
Comprehensive analysis of expenses of the population and assessment of their impact on the development of the economy of the Kyrgyz Republic
Comprehensive analysis of expenses of the population and assessment of their impact on the development of the economy of the Kyrgyz Republic
- Assoc. Prof. Dr. Khicheza Fynchina (Kyrgyz-Russian Slavic University, Kyrgyzstan)
Abstract
Household consumption expenditures are one of the important factors of economic development. According to Keynes' theory, they directly affect the aggregate demand and economic development of the state. Expenditures on final consumption of the population in the GDP of the Kyrgyz Republic in different years occupied about 75-85%. This importance makes it relevant to comprehensively study consumer spending as one of the main determinants of public finances. Based on statistical data for a representative period using statistical and economic-mathematical methods, a comprehensive analysis of population expenditures was carried out, the degree of their dependence and other variables on the economic development of the Kyrgyz Republic was revealed, linear regression was determined with an adequate interpretation of the results and the possibility of using regression models in forecasting. Based on the results of the analysis, the indicators of marginal propensities to consumption and saving are calculated; the multiplier of expenses for the Kyrgyz Republic and its regions. The data obtained are extremely ambiguous, however, in conditions of unstable economic development in studies based on panel data, the main trend seems to be the identified trend, which shows the willingness of more affluent regions to potentially save more for the purpose of future investment in the economy of the Kyrgyz Republic. The validity of the assessment of the relationship and the use of models for the development of concepts of economic development of the Kyrgyz Republic is shown.
JEL codes: D12, E21, C51
