2692-4048ISSN (Online)
2770-0070ISSN (Print)
Volume 19 , Issue 2 , PP: 82-91, 2025 | Cite this article as | XML | Html | PDF | Full Length Article
Zokir Mamadiyarov 1 * , Sаmаriddin Mаkhmudov 2 , Bunyod Utanov 3 , Dilorom Kasimova 4 , Guzal Bekmurodova 5 , Zohid Hakimov 6
Doi: https://doi.org/10.54216/FPA.190206
The examination of commercial bank deposits together with their influencing factors relies on econometric analyses in this paper. The econometric model for commercial bank deposit base factors used a multiple linear regression (LS) method because the data came from time series that included multiple variables. The research used 74 economic indicators spanning an eight-year period and collected those indicators in monthly intervals. The dependent variable was the deposit volume (y), while the independent variables were the inflation rate (x1), the minimum wage (x2), the number of individuals using digital banking services (x3), the average interest rate on term deposits (x4), and the per capita GDP (x5). Our analysis, based on data from the Central Bank of the Republic of Uzbekistan, indicates that the selected independent variables are significantly related to the growth of the deposit base. The implementation of multiple linear regression (LS) answered Gauss-Markov assumption tests successfully while the Durbin-Watson test and Shapiro-Wilk test along with the Breusch-Pagan test evaluated the statistical import of the obtained results. The key findings indicate that a 1% increase in the inflation rate leads to a 1.06% decrease in the deposit volume; a 1% increase in the minimum wage results in a 0.32% increase in the deposit volume; a 1% increase in the number of individuals using digital banking services leads to a 0.59% increase in the deposit volume; a 1% increase in the average interest rate on term deposits results in a 0.81% increase in the deposit volume; and a 1% increase in per capita GDP causes a 0.79% increase in the deposit volume. Banks should concentrate their efforts on fighting inflation while developing their digital systems because these strategies build a better deposit base, which boosts interbank rivalry and supports economic stability.
Deposits , Household Deposits , Deposit volume , Inflation rate , Average interest rate on term deposits , Minimum wage
[1] M. K. Brunnermeier and Y. Sannikov, "The I Theory of Money," J. Financial Econ., vol. 100, no. 1, pp. 133-153, 2019.
[2] G. Psacharopoulos and H. A. Patrinos, "Returns to investment in education: A decennial review of the global literature," Educ. Econ., vol. 26, no. 5, pp. 445-458, 2018.
[3] D. Card and A. B. Krueger, "Does school quality matter? Returns to education and the characteristics of public schools in the United States," J. Political Econ., vol. 100, no. 1, pp. 1-40, 1992.
[4] D. H. Autor, F. Levy, and R. J. Murnane, "The skill content of recent technological change: An empirical exploration," Q. J. Econ., vol. 118, no. 4, pp. 1279-1333, 2003.
[5] R. H. Thaler, "Saving, fungibility, and mental accounts," J. Econ. Perspect., vol. 4, no. 1, pp. 193-205, 1990.
[6] G. Hofstede, Culture’s Consequences: Comparing Values, Behaviors, Institutions, and Organizations Across Nations, 2nd ed. Thousand Oaks, CA: Sage, 2001.
[7] A. Lusardi and O. S. Mitchell, "The economic importance of financial literacy: Theory and evidence," J. Econ. Lit., vol. 52, no. 1, pp. 5-44, 2014.
[8] M. Bank and J. Lawrenz, "Deposit finance as a commitment device and the optimal debt structure of commercial banks," Eur. Financial Manage., vol. 19, no. 1, pp. 14-44, 2013.
[9] M. K. Valahzaghard and S. M. Kashfi, "Investigating the effects of various factors on bank deposits," Manage. Sci. Lett., vol. 4, no. 4, pp. 707–712, 2014.
[10] M. Feldstein, "The effect of the tax reform act of 1986 on corporate restructuring," J. Econ. Perspect., vol. 11, no. 2, pp. 23-44, 1997.
[11] K. Kochaniak, "Are incomes a key determinant of the levels of household sight deposits during a financial market downturn? The case of the eurozone countries," Argumenta Oeconomica, vol. 2, no. 43, pp. 5–37, 2019.
[12] M. F. Zerihun, "Internal determinants of bank deposit flows under different market conditions in Ghana," Banks Bank Syst., vol. 19, no. 1, 2024.
[13] B. A. Kiiza and G. D. Pederson, "Household financial savings mobilisation: Empirical evidence from Uganda," J. Afr. Econ., vol. 10, no. 4, pp. 390–409, 2001.
[14] K. Kochaniak, "Regulatory Thresholds of Household Deposit Stability in the Euro Area - Neglected Factors and Omissions Made," Panoeconomicus, vol. 66, no. 5, pp. 559–588, 2017.
[15] J. Dow, "Household factors affecting confidence in financial institutions," Appl. Econ. Lett., pp. 1–4, 2021.
[16] R. M. Blank, "Can equity and efficiency complement each other?" Labour Econ., vol. 9, no. 4, pp. 451-468, 2002.
[17] F. S. Mishkin, The Economics of Money, Banking, and Financial Markets, 12th ed. Pearson, 2019.
[18] A. Demirgüç-Kunt and H. Huizinga, "Market Discipline and Deposit Insurance," J. Monetary Econ., vol. 51, no. 2, pp. 375-399, 2004.
[19] Y. Melnychuk, O. B. Shkolenko, T. V. Kharchuk, and V. V. Melnik, "Attracting deposit flows as the main resource of investments in the country's economy during the COVID-19 pandemic," Financial Credit Act. Probl. Theory Pract., vol. 2, no. 43, pp. 8-16, 2022.
[20] C. Ang, "Empirical Research on the Factors Affecting Residents’ Intention of Deposit," Acad. J. Bus. Manage., vol. 5, no. 11, pp. 115-119, 2023.
[21] J. Doe and A. Smith, "Artificial Intelligence Techniques for Fraud Detection in Banking: A Comprehensive Review," J. Financial Crime, vol. 28, no. 3, pp. 789-805, 2021.
[22] M. Schmettow and M. Schmettow, "Multi-predictor Models," in New Statistics for Design Researchers: A Bayesian Workflow in Tidy R, 2021, pp. 219-266.
