Record Details

ANALYSIS OF ELDERLY FINANCIAL STABILITY IN CENTRAL AND EASTERN EUROPEAN COUNTRIES – CLASSIFICATION APPROACH

European Journal of Business and Economics

View Archive Info
 
 
Field Value
 
Title ANALYSIS OF ELDERLY FINANCIAL STABILITY IN CENTRAL AND EASTERN EUROPEAN COUNTRIES – CLASSIFICATION APPROACH
 
Creator Borda, Marta; Wroclaw University of Economics
Kowalczyk-Rólczyńska, Patrycja; Wroclaw University of Economics
 
Subject elderly people, poverty, Central and Eastern Europe, cluster analysis
J14, C380, D14
 
Description The purpose of the paper is to analyze and compare the financial situation of elderly people in Central and Eastern European (CEE) countries. The above countries have gone through similar transformation path to market economy in their socio-economic development and they have been faced similar demographic and economic problems. The financial situation of elderly people in CEE region has been strongly influenced by demographic trends, changes in macroeconomic situation and reforms of existing pension systems. Increasing lifetime, low replacement rate from the public pension systems and little pension savings or even a lack of them cause that increasing number of elderly people can be exposed to financial instability or even poverty risk. Consequently, the examination of the financial standing of the elderly in CEE region seems to be an important scientific and practical issue.In the analysis, six variables measuring the level of income and expenses, exposure to poverty risk as well as gender differences in disposable income for age group of 65 years or over were included. The data characterizing the financial situation of elderly people in eleven CEE countries was acquired from Eurostat database. The authors applied Ward’s method and the k-means method in order to classify the examined countries according to the financial standing of elderly people. The obtained results allow to indicate countries with similar financial situation of elderly people in 2007, 2010 and 2014 as well as changes in clusters over the analyzed period. Moreover, the variance analysis was applied to indicate the influence of particular variables on the clustering results. The main findings show that the financial situation of the elderly in CEE countries is very differentiated and changeable, however over the analyzed period financial standing of the elderly seems to be the most similar in Hungary, Poland and Slovenia.
 
Publisher CBU, o.p.s.
 
Contributor This paper was presented at 9th International Conference The Economies of the Balkan and the Eastern European Countries in the changing world (EBEEC 2017) which was organized in April 28-30, 2017, Piraeus-Athens, Greece
 
Date 2017-12-12
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://ojs.journals.cz/index.php/EJBE/article/view/1117
10.12955/ejbe.v12i2.1117
 
Source European Journal of Business and Economics; Vol 12, No 2 (2017)
1804-9699
10.12955/ejbe.v12i2
 
Language eng
 
Relation http://ojs.journals.cz/index.php/EJBE/article/view/1117/1659
 
Rights Copyright (c) 2018 Marta Borda, Patrycja Kowalczyk-Rólczyńska
https://creativecommons.org/licenses/by/3.0/