Analysis of Savings Determinants among Agro-based firm Workers in Nigeria: a Simultaneous Equation Approach
Abstract
The study determined factors that affect household saving of rural agro-based firm workers in the south-south region of Nigeria. Two-stage least squares method of simultaneous equation model was used in the analysis. Cross-sectional data were collected from 250 randomly selected workers of five agro-based firms in the study areas. The results of the analysis revealed that income, tax, job experience, education, family size and membership of a social group influence saving attitude of workers. To promote household savings among agro-based workers in Nigeria, policies aim at periodic increase in worker's salary and reduction in tax rate in line with the changing pattern of macro-economic variables in the country were advocated. Others include policies that will promote birth control, increase public awareness on the on-going family planning programme in the country, and encourage social group formation among workers as well as those aim at reduction in agricultural production constraints.
Keywords: Saving, rural, agro-based, income, labor, simultaneous equation.
![Download the IISTE publication guideline!](https://www.iiste.org/sub/iiste_footer_journal.jpg)
To list your conference here. Please contact the administrator of this platform.
Paper submission email: RHSS@iiste.org
ISSN (Paper)2224-5766 ISSN (Online)2225-0484
Please add our address "contact@iiste.org" into your email contact list.
This journal follows ISO 9001 management standard and licensed under a Creative Commons Attribution 3.0 License.
Copyright © www.iiste.org