1. 28th CIRET Conference, Rome, September 19- 23, 2006 1 We Differ. Are We Different? (Comparing Consumer Sentiments in Russia, Europe, and USA) We Differ. Are We Different? (Comparing Consumer Sentiments in Russia, Europe, and USA) Dilyara Ibragimova, Sergey Nikolaenko

2. 28th CIRET Conference, Rome, September 19- 23, 2006 2 Objectives Transition of Russian economy after perestroika are reflected in the people’s minds, their sentiments, perceptions, estimates and in their behavior. What changes are taking place in the people’s estimates? What are they impacted by and how? To what extent do the people’s evaluations correspond to the consumers’ behavior “standards” in developed countries? What are the specific and common features of the Russian society progression towards the market reality? Goal: To reveal of similar and specific patterns of consumer behavior in Russia by comparison with other countries.

3. 28th CIRET Conference, Rome, September 19- 23, 2006 3 Main issues: ► General changes in consumer sentiments in 1993-2005 ► Consumer Sentiments of Various Demographic and Economic Groups ► Comparing Inter-Element Correlations of CSI Components

4. 28th CIRET Conference, Rome, September 19- 23, 2006 4 Data sources: ► Primary data of consumer surveys in Russia conducted by uniform methodology since 1993. Surveys are conducted once in 2 months by the all-Russian representative sample (N=2100), the overall massive - > 100000 respondents. ► Time series of CSI in European countries and the USA. USA: data from the Survey Research Center at the University of Michigan Europe:information about relevant indices accumulated by OECD and EC within the framework of creating a system of leading indicators for individual country. ► Official statistical and macroeconomic data.

5. 28th CIRET Conference, Rome, September 19- 23, 2006 5 CSI Dynamics in 1993-2005: Proportion of optimists and pessimists

6. 28th CIRET Conference, Rome, September 19- 23, 2006 6 CSI Dynamics in 1993-2005: Comparison of the USA and Russia (annual average values)

7. 28th CIRET Conference, Rome, September 19- 23, 2006 7 Dynamics of the Current Index and Expected Index in 1993-2005 (average annual values) а) Russia b) USA

8. 28th CIRET Conference, Rome, September 19- 23, 2006 8 Dynamics of CSI components in 1993-2005: current components (average annual values) а) Russiab) USA

9. 28th CIRET Conference, Rome, September 19- 23, 2006 9 Dynamics of CSI components in 1993-2005: components of expectations (average annual values) а) Russiab) USA

10. 28th CIRET Conference, Rome, September 19- 23, 2006 10 CSI Dynamics Depending of the Respondent’s Gender а) Russiab) USA

11. 28th CIRET Conference, Rome, September 19- 23, 2006 11 Gap in the levels of the CSI components between “rich” (9-10 deciles) and “poor” (1-2 deciles): comparison of Russia (2000-2004) and the USA (1996-2000)

12. 28th CIRET Conference, Rome, September 19- 23, 2006 12 Age and Income Profile of the Respondents, % а) Russiab) USA

13. 28th CIRET Conference, Rome, September 19- 23, 2006 13 Dynamics of Buying Conditions Index by Age Groups а) Russia b) USA

14. 28th CIRET Conference, Rome, September 19- 23, 2006 14

15. 28th CIRET Conference, Rome, September 19- 23, 2006 15

16. 28th CIRET Conference, Rome, September 19- 23, 2006 16

17. 28th CIRET Conference, Rome, September 19- 23, 2006 17

18. 28th CIRET Conference, Rome, September 19- 23, 2006 18

19. 28th CIRET Conference, Rome, September 19- 23, 2006 19

20. 28th CIRET Conference, Rome, September 19- 23, 2006 20

21. 28th CIRET Conference, Rome, September 19- 23, 2006 21

22. 28th CIRET Conference, Rome, September 19- 23, 2006 22

23. 28th CIRET Conference, Rome, September 19- 23, 2006 23