An examination of the nexus between private savings and economic development

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Tarih

2024

Dergi Başlığı

Dergi ISSN

Cilt Başlığı

Yayıncı

Istanbul Commerce University

Erişim Hakkı

info:eu-repo/semantics/openAccess

Özet

The study aims to investigate the private savings and economic development nexus in Nigeria. The methodology is based on econometric analysis to estimate parameter values and analyze economic relationships with co-integration and Granger causality tests employed to examine the variables employed. The variables employed in the study have long term positive relationship following the results from the Johansen co-integration, private savings and economic development have bilateral causality which is significant using the Granger causality tests. The results suggest that economic development Granger-causes private savings and private savings Granger-cause economic development. Following the study results, in the long run economic development can stimulate private savings and private savings can accelerate economic development. Government and policymakers in Nigeria should implement policies to attract more private savings, thereby accelerating economic development and growth, GDP per capita increase, and the living standard of citizens in the country improved.

Açıklama

Anahtar Kelimeler

GDP, Private Savings, Economic Development, Nigeria, Long Run

Kaynak

International Journal of Commerce and Finance

WoS Q Değeri

Scopus Q Değeri

Cilt

10

Sayı

2

Künye

Boloupremo, T., & Umbe, A. E. (2024). An Examination of the Nexus Between Private Savings and Economic Development. International Journal of Commerce and Finance, 10(2), 111-130.