RURAL SAVINGS AMONG INDIVIDUALS AND SAVINGS MOBILIZATION BY FINANCIAL INSTITUTIONS IN EPE LOCAL GOVERNMENT AREA OF LAGOS STATE
RURAL SAVINGS AMONG INDIVIDUALS AND SAVINGS MOBILIZATION BY FINANCIAL INSTITUTIONS IN EPE LOCAL GOVERNMENT AREA OF LAGOS STATE
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Date
1992-12
Authors
BELLO, WASIU OLADIMEJI
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Abstract
This study examines Rural Savings Among Individuals and Savings
Mobilisation by Financial Institutions in Epe Local Government Area of
Lagos State. The work sets out to ascertain the relationships between the
savings of individuals and socio-economic variables, which include income,
age, education, family size, inflation, interest rate and proximity to
banks. The operations and activities of banks in the rural area toward
saving mobilisation were also examined.
A - Priori expectations on socio-economic characteristics of respondents
vis-a-vis their savings indicated that the income of respondents and the
rate of interest had tremendous impacts on their savings. With the
exception of the level of education and family size, both of which ran
contrary to expectations, other variables confirmed the a-priori
expectations. Whereas, there was considerable growth in the volume of
deposit liabilities of the banks, there was no commensurate growth in the
loans granted the rural folks. The M.P.S. and Income Elasticity of savings
were (25.60) and (1.69) respectively.
This outcome justifies the hypothesis and also confirms the existence of
savings in the rural areas.
In view of the overwhelming influence of savings in the development
process, its mobilisation by government and their agencies seems, rather
unwieldy. It is suggested for policy considerations that the surging rate
of inflation be stemmed if incomes of individuals would have any
meaningful effects both on consumption and savings. The speculative era
pervading all spheres of the economy in favour of the productive sector
deserved an urgent attention and appraisal by appropriate authorities.
The government could in this regard resuscitate the economy with the
provision of adequate credit facilities to rural industrialists with
viable projects.
Description
A THESIS SUBMITTED TO THE POSTGRADUATE SCHOOL,
AHMADU BELLO UNIVERSITY, IN PARTIAL FULFILLMENT OF THE
REQUIREMENTS FOR THE DEGREE OF MASTER OF SCIENCE (ECONOMICS)
DEPARTMENT OF ECONOMICS
FACULTY OF ARTS AND SOCIAL SCIENCES
AHMADU BELLO UNIVERSITY
ZARIA.
Keywords
RURAL SAVINGS,, INDIVIDUALS,, SAVINGS,, MOBILIZATION,, FINANCIAL INSTITUTIONS,, EPE,, LOCAL GOVERNMENT AREA,, LAGOS STATE