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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Rural household consumption - savings behavior in low-income nations: the case of Ago-Iwoye, Nigeria
Author:Durojaiye, Bamidele O.
Year:1991
Periodical:African Review of Money, Finance and Banking - Supplement to 'Savings and Development'
Issue:1
Pages:85-96
Language:English
Geographic term:Nigeria
Subjects:savings
household budget
External link:https://www.jstor.org/stable/23027511
Abstract:Development economists hypothesize that saving effort is the key determinant of economic growth and they counsel low-income countries and rural areas to increase their saving efforts as a means of attaining a satisfactory rate of economic growth. Yet the formulation of policies designed to increase saving propensity in rural areas has suffered from a lack of knowledge about the nature of the savings behaviour of rural households in many countries. This study examines the savings behaviour of representative households in Ago-Iwoye, a typical rural area in Nigeria, where a survey was conducted among 56 households in 1989. The results indicate that the households saved, on the margin, about one-fifth of their permanent income and about one-third to the whole of their transitory income. Thus, one can be optimistic about the success of well-designed savings mobilization programmes in mobilizing voluntary savings among households in Ago-Iwoye and perhaps in other rural areas of Nigeria. Bibliogr.
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