THE DETERMINANT OF SAVINGS IN NIGERIA (1985-2011)

ABSTRACT
The term savings refers to the part of income immediately spent or consumed but reserved for futureconsumption, investment or unforeseen contingencies. This study examines the determinants of savings in Nigeria between 1985-2011, which will enable us to proffer solution for the improvement of savings in the economy, since it is an important component of the economic development of any country. The method of analysis used in testing the hypothesis are coefficient of multiple determination {R2}, T –test,F-statistics. Data for the study was obtained from the central bank of Nigeria statistical bulletin, the major findings was that per capita disposable income{pdy} has a positive and significant impact on aggregate savings in Nigeria. Based on the findings, some recommendations of policy and suggestions have been made.

CHAPTER ONE
1:1 BACKGROUND OF THE STUDY
Capital formation is an important factor of an economy growth. For a country like Nigeria to attain economic growth, serious effort should be geared towards capital formation by encouraging savings.

The financial institution markets, regulators and instrument interact within an economy to provide financial services such as foreign exchange transaction, financial intermediation and resources mobilization and allocation.

The financial system in Nigeria can be categorized into two, the formal (organized) and informal (unorganized) financial system. The formal financial system is categorized into capital and money market institutions and these comprises of the banks and non banks financial institution, while the informal sector is made up of the local money lenders (Esusu), the thrifts and savings associations, merchants, shopkeeper or traders, friends and relatives etc. here the system is poorly developed, limited economic information, defective system of accounting and not integrated into the formal financial system. But it is very important and plays a major role in the Nigerian financial system...

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Item Type: Project Material  |  Attribute: 66 pages  |  Chapters: 1-5
Format: MS Word  |  Price: N3,000  |  Delivery: Within 30Mins.
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