SAVINGS IN THE ABSENCE OF FUNCTIONING PROPERTY RIGHTS¹

Abstract

Nigeria is a prime example of a developing country with ill-defined property rights. However, people still manage to save, mostly through traditional and informal means, facilitated by strong family and community institutions. This paper argues that the government should concentrate on strengthening these institutions rather than weakening them by imposing an inappropriate, Western-style, formal pensions system on the country.

Editorial: New Perspectives on the Economics and Politics of Ageing

“…Some of the output of the project has already been published in earlier editions of Economic Affairs (for example, see Niemietz, 2007; Silver et al , 2007). Further research will be published in an IEA monograph in 2008 and in future editions of Economic Affairs.…”