Perceptions of Economic Insecurity: Evidence from Russia

51 Pages Posted: 13 May 2009

See all articles by Susan J. Linz

Susan J. Linz

Michigan State University

Anastasia Semykina

Florida State University

Multiple version iconThere are 2 versions of this paper

Date Written: May 13, 2009

Abstract

Economic insecurity is an inherent characteristic of the transition from a planned economy to a market-oriented economy and workers' assessments of their economic insecurity have direct consequences not only for their happiness/well-being, but also on consumption and saving behavior. This study utilizes data from the nationally representative Russian Longitudinal Monitoring Survey to study perceptions of economic insecurity among workers in both rural and urban settlements. Analyzing three measures of perceived economic insecurity, we find that perceptions of insecurity were higher when economic conditions were deteriorating (1995-1998), and lower when economic conditions had stabilized (2000-2004). While perceived insecurity varies substantially by worker characteristics -- those with less education, women, and unskilled and semi-skilled manual workers feel most vulnerable -- differences in observed characteristics explain a relatively small part of the rural-urban perceptions gap; other factors, such as different rates of economic recovery in rural and urban locales are also important. Individual well-being and household consumption tend to be lower when concerns about economic insecurity are present.

Keywords: perceptions, economic insecurity, Russia, gender, rural-urban differences

JEL Classification: P36, P23, R2, I31

Suggested Citation

Linz, Susan J. and Semykina, Anastasia, Perceptions of Economic Insecurity: Evidence from Russia (May 13, 2009). Available at SSRN: https://ssrn.com/abstract=1404022 or http://dx.doi.org/10.2139/ssrn.1404022

Susan J. Linz (Contact Author)

Michigan State University ( email )

Department of Economics
110 Marshall Hall
East Lansing, MI 48824
United States
(517) 353-7280 (Phone)
(517) 432-1068 (Fax)

Anastasia Semykina

Florida State University ( email )

Tallahasse, FL 32306
United States

HOME PAGE: http://mailer.fsu.edu/~asemykina/

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