THE EFFECT OF INTEREST RATE ON SAVINGS IN NIGERIA
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study examined the effect of interest rates on savings in Nigeria Using multiple regression analysis. The study also carried out some diagnostic tests like heteroskedasticity, serial correlation test and stability test. This work made use of secondary data sourced from the central bank of Nigeria statistical bulletin from 1981 to 2014. The result of this regression analysis showed that the coefficient of interest rate was positive and the level of significance, 0.05 was less than the p-value so interest rate has a positive but insignificant relationship with savings in Nigeria. The control variable used (GDP and government expenditure) also showed positive but insignificant relationship with savings. This simply means that interest rate has no significant effect on savings in Nigeria. Rather, savings are affected by low income. Since the result shows a positive relationship between interest rates and saving, it was recommended that the central bank should adopt a policy of interest rates that will not only boost savings in Nigeria but also improve the level of investment which will in the long run increase the income of individuals and thereby increasing their level of savings and therefore that of the economy as a whole. Also the government should spend more on viable projects as it increases investment, income, savings and finally economic growth. The government should also provide enabling environment to thrive as this will increase income thereby increasing total savings of the country.
Related Project Materials
ASSESSMENT OF THE EDUCATIONAL FACILITIES FOR THE PHYSICALLY CHALLENGED IN NIGERIA
ABSTRACT
This study focused on the Assessment of the Educational Facilities for the Physically Challenged in Nigeria using Kaduna State a...
EFFECT OF LECTURE AND DEMONSTRATION METHOD ON THE ACADEMIC ACHIEVEMENT OF STUDENTS IN CHEMISTRY IN SOME SELECTED SECONDARY SCHOOLS
Abstract
This study was carried out to determine the effect of lecture and demonstration methods on ac...
A RELIGIOUS RESPONSE TO INTERNALLY DISPLACED PERSONS IN BORNO STATE OF NIGERIA
Abstract
Several discourses, theses, dissertations and other research works on the social, political, economic, psychological as well as...
IDENTIFICATION OF PROBLEMS HINDERING HOSPITALITY DEVELOPMENT
ABSTRACT
The study investigated the factors hindering the growth and development in hospitality industr...
EFFECTS OF VIOLENT FILMS ON NIGERIAN CULTURAL VALUES
ABSTRACT
This study was carried out to examine effect of violent films on Nigerian cultural value...
CHARACTERIZATION AND BENEFICIATION OF NASARAWA-EGGON LEAD-ZINC ORE, NASARAWA STATE, NIGERIA
Abstract
Characterization and flotation studies were carried out on the Nasarawa-Eggon leadzinc ore sample through Chemical analysis, Min...
AN ASSESSMENT OF TAX ACCOUNTING FOR NON-PROFIT ORGANIZATIONS
Abstract: AN ASSESSMENT OF TAX ACCOUNTING FOR NON-PROFIT ORGANIZATIONS
This study assesses tax accounting practices in non-profit organiz...
THE INFLUENCE OF THE REDUCTION IN OIL PRICE AND THE DEVALUATION OF NAIRA ON THE NIGERIA ECONOMIC GROWTH
ABSTRACT
This study examined “influence of Oil Price reduction and Naira devaluation on Nigeria E...
COMPARATIVE EFFECT OF CO-OPERATIVE LEARNING STRATEGY AND INQUIRY BASED METHOD
Abstract
Science may be viewed as a way of questioning or verifying the truthfulness of knowled...
AN ASSESSMENT OF VOCATIONAL TECHNICAL EDUCATION POLICY IMPLEMENTATION AND STUDENTS' SKILLS ACQUISITION IN SECONDARY SCHOOLS IN DELTA STATE, NIGERIA
Background of the study
Technical and vocational education is used as a comprehensive term in the educa...
