Determinants of Savings Rate in Rural Nigeria: A Micro Study of Kwara State

Obayelu, Oluwakemi Adeola

doi:10.13014/k2qz2843

Cited by 3 publications

(2 citation statements)

References 7 publications

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“…Farmers who have wealth of experience in farming are able t optimally balance and allocate their income to savings, household needs and other responsibilities, leading to higher saving amongst them. This result is consistent with the findings of [65]. He noted that farmers with more than 10 years of farming experience had higher savings rates than their fellows with no experience in Nigeria, attributed to proper decision making and income allocation among the experienced farmers.…”

Section: Binary Logistic Model Summarysupporting

confidence: 89%

Assessing the determinants of saving behaviour: evidence from rural farming households in Central Uganda

Midamba,

Jjengo,

Ouko

2024

Discov Sustain

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Savings play a significant role in any country’s economic development. Notably, because farmers tend to have seasonal income from their farming activities, they also tend to be highly vulnerable to poor saving habbit than other occupations, such as those in formal jobs. However, farmers who save part of their income for subsequent production can purchase farm inputs in time as they wait for the onset of rain. Reportedly, there has been poor saving behavior among farmers in sub-Saharan Africa. Therefore, this study aims to determine the factors responsible for farmers’ saving behavior. Descriptive and econometric (binary logistic model) analyses were employed to achieve the objectives of the study. The results indicate that the majority of farmers saved on a monthly and weekly basis. The results of the binary logistic regression model analysis showed that age, marital status, gender, experience, group membership, distance to the markets and markets, farm income, and farmers’ sub-counties of residence had a significant influence on farmers’ saving behavior. From the results, policy measures to increase the rate of savings include the employment of more extension personnel to reach as many farmers as possible. Government and extension agents should target female and less experienced farmers through adult-based education programs because they are vulnerable to poor saving behavior. Farmers should join farmer—based groups and cooperative societies, in which saving information is disseminated. The government, non-governmental organizations and financial institutions should offer financial literacy training on savings to smallholder farmers.

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Section: Binary Logistic Model Summarysupporting

confidence: 89%

Assessing the determinants of saving behaviour: evidence from rural farming households in Central Uganda

Midamba,

Jjengo,

Ouko

2024

Discov Sustain

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“…Using data from a survey they have conducted in the Multan district of Pakistan, Rehman, Faridi and Bashir (2010) use income, wealth (in the form of land and livestock holdings), age, education, region of residence, demographic characteristics and labour market participation of household members. Obayelu (2013) emphasises age, household size, education, farming experience and land and livestock ownership for an analysis of the Kwara state of Nigeria. Employing micro dataset from 10 different Latin America countries, spanning a time period from 1994 to 2012, Bebczuk, Gasparini, Amendolaggine and Garbero (2015) relate saving behaviour to income, education, house and car ownership, age, household head gender and demographics of the household.…”

Section: Literature Reviewmentioning

confidence: 99%

Social Security Membership and Saving: The Turkish Case

Değer

Erer

2020

Sosyoekonomi

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This study analyses the micro-foundations of the saving behaviour in Turkey, looking for a humpback profile in saving rates. Household Expenditure Surveys are used to construct a pseudo-panel of the saving rate. Then, an age-cohort-period decomposition is undertaken to isolate the agedependent behaviour of the saving rate in Turkey. The analysis is repeated for sub-samples based on social security status. Further investigation is carried out with truncated regression. Existence of a humpback profile is confirmed, but no systematic link between social security membership and the humpback profile is identified.

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Savings of Small Farms: Their Magnitude, Determinants and Role in Sustainable Development. Example of Poland

2020

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Savings are a catalyst for capital creation and are the driving force behind economic growth and development. The degree of development achieved by farms will largely depend on their ability to accumulate income and their way of spending. The aim of the article is to determine the savings-generating potential of small farms in Poland and the impact of savings on their sustainable development. In this article, firstly, the literature on savings in small farms and their role in sustainable development is synthesized. Secondly, presents empirical research that was conducted considering the economic and social characteristics of 1485 small farms to help understand saving behaviors in the chosen context. The research material consisted of data on entities participating in the Polish Farm Accountancy Data Network (FADN) in 2017. The factors influencing the generation of savings were identified using the logit regression model. The results of the research indicate great diversity in the scale of savings generated by small farms in Poland. Moreover, the study showed that 4 out of 21 variables characterizing small farms were significant, with a good fit of the model as evidenced by the model quality assessment measures used (coefficient R2countand ROC curve). It was found that two variables, namely area of farmland and gross value added, each had a statistically significant positive influence on the probability of generating higher savings by small farms in Poland. On the other hand, the possession of liabilities and gross investment each had a statistically significant negative influence on the accumulation of higher savings. The research reveals some limitations that may hinder the mobilization of savings by small farms and thus affect their sustainable development. Therefore, as recommendations, we present measures that can increase savings by small farms in Poland.

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Determinants of Savings Rate in Rural Nigeria: A Micro Study of Kwara State

Cited by 3 publications

References 7 publications

Assessing the determinants of saving behaviour: evidence from rural farming households in Central Uganda

Assessing the determinants of saving behaviour: evidence from rural farming households in Central Uganda

Social Security Membership and Saving: The Turkish Case

Savings of Small Farms: Their Magnitude, Determinants and Role in Sustainable Development. Example of Poland

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