Determinants of household saving behaviour in Ghana
Developing countries generally exhibit low ‘saving’ (flow concept) and ‘savings’ (stock concept) rates. The factors underlying household positive or negative saving behaviours in developed and developing countries are not new in the macroeconomic literature. Whereas some determinants are theoretical...
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2024-12-01
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| Series: | Cogent Economics & Finance |
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| Online Access: | https://www.tandfonline.com/doi/10.1080/23322039.2024.2420220 |
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| author | Anthony Amoah Carlos Kokuvi Tetteh Noble Osei-Bonsu Paragon Pomeyie Godson Ahiabor George Hughes Ignanpin Kwabenabu Benjamin Otchere-Ankrah |
| author_facet | Anthony Amoah Carlos Kokuvi Tetteh Noble Osei-Bonsu Paragon Pomeyie Godson Ahiabor George Hughes Ignanpin Kwabenabu Benjamin Otchere-Ankrah |
| author_sort | Anthony Amoah |
| collection | DOAJ |
| description | Developing countries generally exhibit low ‘saving’ (flow concept) and ‘savings’ (stock concept) rates. The factors underlying household positive or negative saving behaviours in developed and developing countries are not new in the macroeconomic literature. Whereas some determinants are theoretically generic, others are country- or community-specific and worth investigating. In this study, the determinants of household saving behaviour are examined. We obtain the results using primary data from a household survey and a logit econometric model with its associated average marginal effects. Our evidence shows that household income, level of education completed, employment status, and households with launching children (or transitioning older adults) are primary drivers of household saving behaviour in Ghana. Further heterogeneous analysis shows that saving behaviour does not statistically differ by gender but by poverty headcount. In line with the findings of this study, relevant policy prescriptions are discussed. |
| format | Article |
| id | doaj-art-6abf8d898e244137a6b4bac3ed76ad4f |
| institution | OA Journals |
| issn | 2332-2039 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Economics & Finance |
| spelling | doaj-art-6abf8d898e244137a6b4bac3ed76ad4f2025-08-20T02:17:58ZengTaylor & Francis GroupCogent Economics & Finance2332-20392024-12-0112110.1080/23322039.2024.2420220Determinants of household saving behaviour in GhanaAnthony Amoah0Carlos Kokuvi Tetteh1Noble Osei-Bonsu2Paragon Pomeyie3Godson Ahiabor4George Hughes5Ignanpin Kwabenabu6Benjamin Otchere-Ankrah7School of Sustainable Development, University of Environment and Sustainable Development, Somanya, GhanaInstitute of Statistical, Social and Economic Research (ISSER), University of Ghana, Accra, GhanaDepartment of Human Resource Management, Central University, Accra, GhanaDepartment of Economics, Central University, Accra, GhanaDepartment of Economics, Central University, Accra, GhanaDepartment of Economics, Central University, Accra, GhanaDepartment of Economics, Central University, Accra, GhanaDepartment of Management, Lancaster University, Accra, GhanaDeveloping countries generally exhibit low ‘saving’ (flow concept) and ‘savings’ (stock concept) rates. The factors underlying household positive or negative saving behaviours in developed and developing countries are not new in the macroeconomic literature. Whereas some determinants are theoretically generic, others are country- or community-specific and worth investigating. In this study, the determinants of household saving behaviour are examined. We obtain the results using primary data from a household survey and a logit econometric model with its associated average marginal effects. Our evidence shows that household income, level of education completed, employment status, and households with launching children (or transitioning older adults) are primary drivers of household saving behaviour in Ghana. Further heterogeneous analysis shows that saving behaviour does not statistically differ by gender but by poverty headcount. In line with the findings of this study, relevant policy prescriptions are discussed.https://www.tandfonline.com/doi/10.1080/23322039.2024.2420220Savingbehaviourdemographichousehold surveyprimary dataregression |
| spellingShingle | Anthony Amoah Carlos Kokuvi Tetteh Noble Osei-Bonsu Paragon Pomeyie Godson Ahiabor George Hughes Ignanpin Kwabenabu Benjamin Otchere-Ankrah Determinants of household saving behaviour in Ghana Cogent Economics & Finance Saving behaviour demographic household survey primary data regression |
| title | Determinants of household saving behaviour in Ghana |
| title_full | Determinants of household saving behaviour in Ghana |
| title_fullStr | Determinants of household saving behaviour in Ghana |
| title_full_unstemmed | Determinants of household saving behaviour in Ghana |
| title_short | Determinants of household saving behaviour in Ghana |
| title_sort | determinants of household saving behaviour in ghana |
| topic | Saving behaviour demographic household survey primary data regression |
| url | https://www.tandfonline.com/doi/10.1080/23322039.2024.2420220 |
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