IDEAS home Printed from https://ideas.repec.org/a/bjb/journl/v12y2023i10p59-70.html

Savings Dynamics of Low-Income Households: Evidence from Chattogram, Bangladesh

Author

Listed:
  • Monir Ahmmed

    (Associate Professor; Department of Economics & Banking; International Islamic University Chittagong (IIUC))

Abstract

Saving is one of the most imperativerudiments in a developing country's ability to advance that needs to be moredeveloped.Thegoal of this research is to inspect the influential factorsthat have a dynamic connection with the savings behavior of a sample of individuals who were randomly chosen in a low-income group in Chattogram District,the commercial capital of Bangladesh. For this purpose, data were collected from 2000 people selected onasimple random basis,both rural and urban families, of Chattagram district, Bangladesh to determine the saving habits of lower-income groups.To better understand household savings behavior among low-income groups, we used various regression analytic methods to estimate the values of the slope and intercept coefficients of the regression model.According to the results, the samples that answered the questionnaire had the following features in common: Men and females were ranging in age from 31 to 40 years old, married or not, and with just a primary level of education; the majority of them are non-service holders with incomes less than or equal to 10,000.00 Tk.The inferential statistics revealed that the factors of income and the function of financial institutions are significant in the connection between saving behavior and every component of the economy, excepting other independent variable such as age, marital status, domicile, employment status, education, family size, financial knowledge, saving institutions, motivators of saving which also affects savings behavior but these were statistically insignificant.

Suggested Citation

  • Monir Ahmmed, 2023. "Savings Dynamics of Low-Income Households: Evidence from Chattogram, Bangladesh," International Journal of Latest Technology in Engineering, Management & Applied Science, International Journal of Latest Technology in Engineering, Management & Applied Science (IJLTEMAS), vol. 12(10), pages 59-70, October.
    • Handle: RePEc:bjb:journl:v:12:y:2023:i:10:p:59-70
    as

    Download full text from publisher

    File URL: https://www.ijltemas.in/DigitalLibrary/Vol.12Issue10/59-70.pdf
    Download Restriction: no
    File URL: https://www.ijltemas.in/papers/volume-12-issue-10/59-70.html
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Nadeem A. Burney & Ashfaque H. Khan, 1992. "Socio-economic Characteristics and Household Savings: An Analysis of the Households' Saving Behaviour in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 31(1), pages 31-48.
    2. Annamaria Lusardi, 2008. "Household Saving Behavior: The Role of Financial Literacy, Information, and Financial Education Programs," NBER Working Papers 13824, National Bureau of Economic Research, Inc.
    3. Sondra Beverly & Amanda Moore & Mark Schreiner, 2001. "A Framework of Asset-Accumulation Stages and Strategies," Development and Comp Systems 0109004, University Library of Munich, Germany.
    4. Beverly, Sondra G. & Sherraden, Michael, 1999. "Institutional determinants of saving: implications for low-income households and public policy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 28(4), pages 457-473.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zeynep Copur & Michael S. Gutter, 2019. "Economic, Sociological, and Psychological Factors of the Saving Behavior: Turkey Case," Journal of Family and Economic Issues, Springer, vol. 40(2), pages 305-322, June.
    2. Amanda Moore & Sondra Beverly & Michael Sherraden & Margaret Sherraden & Lissa Johnson & Mark Schreiner, 2001. "Saving and Asset-Accumulation Strategies Used by Low-Income Individuals," GE, Growth, Math methods 0108001, University Library of Munich, Germany, revised 27 Dec 2001.
    3. Haotian Zheng & Elizabeth Harris & William Elliott & Megan O’Brien, 2023. "The Role of Children’s Savings Accounts in Promoting Savings for College Among Welfare Recipients: The Case of Harold Alfond College Challenge (HACC)," Journal of Family and Economic Issues, Springer, vol. 44(2), pages 285-296, June.
    4. Margaret Clancy & Jami Curley & Michal Grinstein-Weiss & Lissa Johnson & Mark Schreiner & Michael Sherraden & Min Zhan, 2001. "Asset accumulation in low-resource households: evidence from individual development accounts," Proceedings 799, Federal Reserve Bank of Chicago.
    5. Cynthia Sanders & Shirley Porterfield, 2010. "The Ownership Society and Women: Exploring Female Householders’ Ability to Accumulate Assets," Journal of Family and Economic Issues, Springer, vol. 31(1), pages 90-106, March.
    6. David Okech, 2011. "Enrollment Decisions in a Child Development Accounts Program for Low-Income Families," Journal of Family and Economic Issues, Springer, vol. 32(3), pages 400-410, September.
    7. Margaret Clancy & Michal Grinstein-Weiss & Mark Schreiner, 2001. "Financial Education and Savings Outcomes in Individual Development Accounts," HEW 0108001, University Library of Munich, Germany, revised 27 Dec 2001.
    8. Yingying Zhang & Shu Fang, 2025. "Housing Provident Fund, risk attitude, and household financial investment engagement: an asset-building perspective," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-10, December.
    9. Renuka Sane & Susan Thomas, 2015. "In Search of Inclusion: Informal Sector Participation in a Voluntary, Defined Contribution Pension System," Journal of Development Studies, Taylor & Francis Journals, vol. 51(10), pages 1409-1424, October.
    10. Webley, Paul & Nyhus, Ellen K., 2013. "Economic socialization, saving and assets in European young adults," Economics of Education Review, Elsevier, vol. 33(C), pages 19-30.
    11. Aileen Heinberg & Angela Hung & Arie Kapteyn & Annamaria Lusardi & Anya Savikhin Samek & Joanne Yoong, 2014. "Five steps to planning success: experimental evidence from US households," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 30(4), pages 697-724.
    12. Belton, Willie & Uwaifo Oyelere, Ruth, 2008. "The Racial Saving Gap Enigma: Unraveling the Role of Institutions," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 37089, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    13. Berg, Nathan & Kim, Jeong-Yoo, 2010. "Demand for Self Control: A model of Consumer Response to Programs and Products that Moderate Consumption," MPRA Paper 26593, University Library of Munich, Germany.
    14. Avner Ben-Ner & John A. List & Louis Putterman & Anya Samek, 2015. "Learned Generosity? A Field Experiment with Parents and their Children," Working Papers 2015-12, Brown University, Department of Economics.
    15. Edgar E. Kausel & Erwin Hansen & Pablo Tapia, 2016. "Responsible Personal Finance: The Role of Conscientiousness in Bank and Pension Savings in Chile," International Review of Finance, International Review of Finance Ltd., vol. 16(1), pages 161-167, March.
    16. Charles N. Noussair & Stefan T. Trautmann & Gijs van de Kuilen, 2014. "Higher Order Risk Attitudes, Demographics, and Financial Decisions," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 81(1), pages 325-355.
    17. Jaanika Meriküll & Merike Kukk & Tairi Rõõm, 2021. "Correction: What explains the gender gap in wealth? Evidence from administrative data," Review of Economics of the Household, Springer, vol. 19(2), pages 549-550, June.
    18. Soyoon Weon & David W. Rothwell, 2020. "Dynamics of Asset Poverty in South Korea," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 150(2), pages 639-657, July.
    19. Giuseppe Cappelletti & Giovanni Guazzarotti & Pietro Tommasino, 2011. "What determines annuity demand at retirement?," Temi di discussione (Economic working papers) 805, Bank of Italy, Economic Research and International Relations Area.
    20. Michael Sherraden & Mark Schreiner & Sondra Beverly, 2003. "Income, Institutions, and Saving Performance in Individual Development Accounts," Economic Development Quarterly, , vol. 17(1), pages 95-112, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bjb:journl:v:12:y:2023:i:10:p:59-70. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://www.ijltemas.in/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.