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
THE IMPACT OF NON-GOVERNMENT FUNDING PROMOTIONS AND DEVELOPMENT OF SMALL SCALE ENTERPRISES
EXCERPT FROM THE STUDY
Entrepreneurs are individuals who recognize opportunities where others see chaos and confusion. T...
THE IMPACT OF SELF SERVICE ON THE PERFORMANCE OF SUPERMARKETS
STATEMENT OF PROBLEM
Presently, the number of corporate supermarkets operating in Abakaliki metropolis...
AN EXAMINATION OF THE FACTORS AFFECTING SECRETARIES PRODUCTIVITY IN MODERN BUSINESS ORGANIZATION
BACKGROUND OF THE STUDY
According to Hornby (1984), the word "secretary" is derived from the...
CORPORATE GOVERNANCE REFORMS AND THEIR IMPACT ON PUBLIC ACCOUNTING STANDARDS
CORPORATE GOVERNANCE REFORMS AND THEIR IMPACT ON PUBLIC ACCOUNTING STANDARDS
ABSTRACT
This research investigates the impact of...
IMPACTS OF DIGITAL STORYTELLING STRATEGIES ON INTEREST, READING FLUENCY AND COMPREHENSION OF PUPILS WITH READING DIFFICULTIES IN SOKOTO STATE, NIGERIA
ABSTRACT
This study explores the Impacts of Digital Storytelling Strategies on Interest, Reading Fluency and Comprehension of Pupils with...
REFINING OF PALM KERNEL OIL
ABSTRACT
This work studied the refining of crude palm kernel oil derived from the kernels within the nut of a palm fruit. This research p...
TOXICITY AND IMMUNOMODULATORY PROPERTIES OF METHANOL EXTRACT OF THE STEM BARK OF LANNEA ACIDA A. RICH. (ANACARDIACEAE) IN WISTAR RATS
ABSTRACT
Lannea acidaA. Rich.belongs to the family of Anacardiaceae; and the bark, leaves and roots have been reported to possess many me...
THE IMPACT OF EFFECTIVE PERSONAL SELLING STRATEGIES ON THE MARKETING OF INDUSTRIAL PRODUCTS
ABSTRACT
This study was carried out to examine the impact of effective personal selling strategies on the marketing of i...
THE INFLUENCE OF OMO DETERGENT TELEVISION COMMERCIALS ON CONSUMER’S PATRONAGE OF THE PRODUCT (A CASE STUDY OF WARRI METROPOLIS)
Abstract
The study investigated the influence of Omo Detergent Television Commercials On Consumer&rsquo...
A TIME SERIES ANALYSIS OF CUSTOMER ATTENDANCE
ABSTRACT
This study was carried out to examine if there is a there is a relationship between customer attendance and ade...
