HOUSEHOLD FINANCIAL BEHAVIOUR IN THE SYSTEM OF ECONOMIC RELATIONS: MECHANISMS OF FORMATION AND TRANSFORMATION
Abstract
The article systematizes scientific approaches to the definition of financial behavior of households, which reflect its interpretation as a result of the interaction of individual motivations, economic constraints, institutional conditions and cognitive factors. Based on the bibliometric analysis of scientific publications indexed in the international scientometric database Scopus, key conceptual areas of research are identified. The analysis conducted indicates the dominance of five relatively autonomous research directions. The motivational cluster focuses on value orientations and behavioral attitudes that determine the financial decisions of households. The financial and managerial cluster covers the study of saving, investment and debt behavior within the framework of rational management of financial resources. The reactive and adaptive cluster reflects short-term changes in the financial behavior of households in response to income fluctuations, crisis phenomena and external shocks. The structural and resource cluster focuses on the influence of income constraints, socio-economic inequality and access to financial resources on financial decisions. The cognitive and institutional cluster characterizes the role of financial literacy, bounded rationality and the quality of the institutional environment in shaping the financial behavior of households. The results obtained demonstrate differences between clusters not only in thematic focus, but also in the initial assumptions regarding the rationality, agency, and adaptive capacity of households. The multidimensional nature of household financial behavior is substantiated as a result of the interaction of value orientations, income opportunities, structural constraints, the quality of the institutional environment and external socio-economic shocks. An integrated model of the formation of household financial behavior is proposed, which combines motivational priorities, financial thinking, resource base, adaptive capacity and institutional conditions into a single analytical framework.
References
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