AN ANALYSIS OF HOUSEHOLDS’ SAVING BEHAVIOUR IN LAGOS STATE OF NIGERIA: THE POST RECESSION ERA
| dc.contributor.author | Osobase, A. O. | |
| dc.contributor.author | Adeyemi, E. A. | |
| dc.date.accessioned | 2022-01-13T00:44:17Z | |
| dc.date.available | 2022-01-13T00:44:17Z | |
| dc.date.issued | 2021-04 | |
| dc.description | The study examines the savings level of households with different income level as well as identifying the main determinants of savings among 520 households residing in Lagos state, Nigeria. | en_US |
| dc.description.abstract | Following the recession experienced in the Nigerian economy, there were negative significant transformations in the socioeconomic and political structures of the economy, as jobs were lost, underemployment and unemployment scale up, labour productivity declined, stagnated wages as well as sharp decline in micro and macro-levels savings. Based on the aforementioned, this current study explores the subject matter of household savings level, likewise investigates the determinants of household savings behaviour in Lagos state of Nigeria. Purposive sampling is adopted to select ten Local Government Areas (LGAs) in the study area while information is obtained through a standardized questionnaire from 520 out of 800 household heads (representing 65% response rate). The data is analyzed using descriptive statistic, hierarchical multiple regression (HMR) and robust standard errors (RSR) techniques. The finding shows that 52.4% of the respondents are male with an average monthly income of $204.65 (N74697.95K) and savings of $27.75 (N10130.5K),while the female counterparts have mean monthly income and savings of $101.50 (N37050.28K) and $11.86 (N4329.609K) respectively. The mean income for all households is $169.16 (N61745.41K). The average propensity to saves is depicted as 0.13 while the average propensity to consume for all households is 0.87. The empirical outcome using the HMR reveals that household income and male head of household positively and significantly impact on savings. On the other hand, food consumption expenditure, educational level of household head, household size and economically active population of household have negative significant impact on savings. Furthermore, the RSR result suggests that all the explanatory variables with the inclusive of occupation of household head have significant impact on savings. Based on the findings, the study suggests that government and policy makers should improve household savings capacity by implementing policies that will improve productivity, generate employment opportunities and boost household income. | en_US |
| dc.identifier.uri | https://ir.unilag.edu.ng/handle/123456789/10217 | |
| dc.language.iso | en | en_US |
| dc.publisher | YDÜ SOSBİLDER, 14(1), 29-63. Near East University Journal of Social Sciences, 14(1), 29 -63. Near East University. | en_US |
| dc.subject | Household Savings, Income, Lagos State, Hierarchical Regression | en_US |
| dc.title | AN ANALYSIS OF HOUSEHOLDS’ SAVING BEHAVIOUR IN LAGOS STATE OF NIGERIA: THE POST RECESSION ERA | en_US |
| dc.type | Article | en_US |