The Savings of the Population and Domestic Sources of Economic Growth in Russia: Results of Experimental Studies.

Abstract

This article presents the results of an academic project carried out by order and with the financial support of the Central Bank of the Russian Federation.>sup>1>/sup> The project is devoted to a broad-scale study of the savings of the Russian population to obtain information that existing state statistical bodies do not possess, either in the area of state accounting or in the area of selective observations. The project was made necessary, on the one hand, by the growing significance of the multi-dimensional problems of the savings of the population, and on the other, by the >i>de facto>/i> absence of sufficiently complete and adequate information in this area.>sup>2>/sup> This research was done to clarify just what is happening with the income and accumulations of the population, and to show a way out of the seeming contradiction whereby the real standard of living of ordinary people is clearly and invariably declining even while the purchase of automobiles and currency and the construction of private residences (especially around Moscow) seem to be increasing.