<abstract xmlns="http://www.w3.org/1999/xhtml">

<bold>Subject and purpose of work:</bold> The issue of savings and what motivates it has continued to generate argument. This study, therefore, investigated the determinants of savings in Nigeria over the period 1980 to 2017.
<bold>Materials and methods:</bold> The study employed the Classical Linear Regression Model in its analysis.
<bold>Results:</bold> The results showed that the determinants of savings include per capita income, gross fixed capital formation, financial deepening and exchange rate. Interest rate and inflation rate showed negative impact on savings.
<bold>Conclusions:</bold> The study recommended that the variables that showed positive impact on savings rate should be properly directed with the relevant policy tools to ensure higher saving rates. Again, the government should direct spending towards economic activities that encourage the creation of more jobs and investments. This will enable individuals, firms and governments to have more money to save. Finally, the Monetary Authorities should pursue financial deepening policies and implement strategies that will enhance the increase of savings in Nigeria.
</abstract>

Subject and purpose of work: The issue of savings and what motivates it has continued to generate argument. This study, therefore, investigated the determinants of savings in Nigeria over the period 1980 to 2017.
Materials and methods: The study employed the Classical Linear Regression Model in its analysis.
Results: The results showed that the determinants of savings include per capita income, gross fixed capital formation, financial deepening and exchange rate. Interest rate and inflation rate showed negative impact on savings.
Conclusions: The study recommended that the variables that showed positive impact on savings rate should be properly directed with the relevant policy tools to ensure higher saving rates. Again, the government should direct spending towards economic activities that encourage the creation of more jobs and investments. This will enable individuals, firms and governments to have more money to save. Finally, the Monetary Authorities should pursue financial deepening policies and implement strategies that will enhance the increase of savings in Nigeria.

Macroeconomic determinants of savings in a developing economy: a new empirical evidence from Nigeria

Economic and Regional Studies / Studia Ekonomiczne i Regionalne

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Subject and purpose of work: The issue of savings and what motivates it has continued to generate argument. This study, therefore, investigated the...

Macroeconomic determinants of savings in a developing economy: a new empirical evidence from Nigeria

Published Online: Jan 18, 2022

Page range: 428 - 444

Received: Oct 01, 2021

Accepted: Nov 01, 2021

DOI: https://doi.org/10.2478/ers-2021-0030

Keywords
macroeconomic, determinants, savings, empirical, evidence

© 2021 Onyinye Anthony-Orji et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Macroeconomic determinants of savings in a developing economy: a new empirical evidence from Nigeria

Published Online: Jan 18, 2022

Page range: 428 - 444

Received: Oct 01, 2021

Accepted: Nov 01, 2021

DOI: https://doi.org/10.2478/ers-2021-0030

Keywordsmacroeconomic, determinants, savings, empirical, evidence

© 2021 Onyinye Anthony-Orji et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
macroeconomic, determinants, savings, empirical, evidence