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Determinants of personal saving: a study of salaried individuals in Thailand

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  • Preecha Swasdpeera
  • I.M. Pandey

Abstract

This study identifies factors that influence the saving behaviour of salaried individuals in Thailand. The results of the univariate and multivariate analyses show that income, age, marital status, number of children and educational level have a positive influence on the individuals' average saving. The study indicates that those individuals who do not save and are not willing to save have a more indifferent attitude towards the factors of willingness to save than the individuals who save or are willing to save. The logit regression results also show that the odds of saving willingness are positively influenced by gender, other financial dependents and household income. The proposed model of influence on saving suggests that an individual will take a series of actions on saving if he/she has a surplus portion of income, a concern for future spending and a trusted saving product.

Suggested Citation

  • Preecha Swasdpeera & I.M. Pandey, 2012. "Determinants of personal saving: a study of salaried individuals in Thailand," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 3(1), pages 34-68.
  • Handle: RePEc:ids:afasfa:v:3:y:2012:i:1:p:34-68
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    References listed on IDEAS

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    1. James M. Poterba & David A. Wise, 1998. "Individual Financial Decisions in Retirement Saving Plans and the Provision of Resources for Retirement," NBER Chapters,in: Privatizing Social Security, pages 363-401 National Bureau of Economic Research, Inc.
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    4. Milton Friedman, 1957. "Introduction to "A Theory of the Consumption Function"," NBER Chapters,in: A Theory of the Consumption Function, pages 1-6 National Bureau of Economic Research, Inc.
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    6. Prema-Chandra Athukorala & Pang-Long Tsai, 2003. "Determinants of Household Saving in Taiwan: Growth, Demography and Public Policy," Journal of Development Studies, Taylor & Francis Journals, vol. 39(5), pages 65-88.
    7. Milton Friedman, 1957. "A Theory of the Consumption Function," NBER Books, National Bureau of Economic Research, Inc, number frie57-1, January.
    8. CLARK, ROBERT L. & d'AMBROSIO, MADELEINE B. & McDERMED, ANN A. & SAWANT, KSHAMA, 2006. "Retirement plans and saving decisions: the role of information and education," Journal of Pension Economics and Finance, Cambridge University Press, vol. 5(01), pages 45-67, March.
    9. Masson, Paul R & Bayoumi, Tamim & Samiei, Hossein, 1998. "International Evidence on the Determinants of Private Saving," World Bank Economic Review, World Bank Group, pages 483-501.
    10. Harris, Mark N & Loundes, Joanne & Webster, Elizabeth, 2002. "Determinants of Household Saving in Australia," The Economic Record, The Economic Society of Australia, vol. 78(241), pages 207-223, June.
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