Page 266 - Contributed Paper Session (CPS) - Volume 6

CPS1925 Marek K.
investment and consumption debt). These differences result not only from the
motivation of decision-makers (the subjective factor) but also from the
economic meaning (objective factor). This internal diversity raises a number of
basic questions. Firstly, is the formal differentiation reflected in the attitudes
and behaviour of individuals – i.e. is the propensity to save (debt) depending
on the motive, purpose, and manner of saving (borrowing)? Are people who
save on a regular basis (collecting funds for the planned purchase of assets –
the improvement and down-payment motive or for unforeseen expenses – the
precautionary motive), will also be those who save for retirement purposes
(the life-cycle motive or the bequest motive)? Secondly, what determines
specific behaviour in terms of saving (borrowing) and are these the same
factors, independent of the way (motive) of saving (borrowing)?
With regard to these questions, the purpose of the article is to identify
various aspects of saving and borrowing and to indicate their determinants.
The basic aspects characterizing the behaviour of households in the area of
saving and borrowing were identified based on the results of the factor
analysis for a dedicated study conducted on a group of Polish households. It
allows for assigning households' behaviours to wider areas, which allows
searching for common determinants for specific types of behaviour. In the
second stage of the analysis, an attempt was made to assess to what extent
the identified areas are conditioned by economic resourcefulness – an
important factor in guaranteeing the economic security of households.
The article contributes to the literature by application of the recently
introduced category of economic resourcefulness to the description of saving
and borrowing behaviour in Poland. Obtained results show new aspects of
short- and long term saving in Poland and suggest the existence of a kind of
trade-off between concentration on the short (medium) and the long-term
situation in the context of maintaining the desired standard of living.

2. Methodology
The empirical analysis was carried out on the basis of the data from a
dedicated questionnaire survey which was intended to analyze various aspects
of the functioning of individuals and households on the market. Within the
survey respondents answered a number of questions regarding their market
situation, saving, indebtedness, the situation on the labour market as well as
many personal characteristics (noncognitive factors).
The study was conducted in Poland at the end of 2016 by a renowned
research agency, using CAPI method. Sampling was based on the TERYT
system, used for representative surveys by the Central Statistical Office in
Poland. The group of respondents covered three cohorts aged 25-31, 32-38,
39-45. The age range of the cohort was established in relation to the political
transformation that took place in Poland in the early 1990s of the previous

255 | I S I W S C 2 0 1 9