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Low Savings Rates in the Economic Community of West African States (Ecowas): The Role of the Political Instability-Income Interaction

Author

Listed:
  • Abu Nurudeen
  • Karim Mohd Zaini Abd

    (Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia)

  • Aziz Mukhriz Izraf Azman

    (School of Economics, Finance and Banking, Universiti Utara Malaysia)

Abstract

This paper employs PCSE, OLS and TSLS with random effects to investigate the impact of the political instabilityincome interaction on savings in ECOWAS countries during the period 1996-2012. The empirical evidence illustrates that higher political stability is associated with higher savings and income levels moderate the adverse effect of political instability on savings, indicating that the impact of political instability on savings is higher in low income ECOWAS countries, but lesser at higher levels of income. The paper recommends the promotion of political stability via increases in incomes to raise savings in the ECOWAS region.

Suggested Citation

  • Abu Nurudeen & Karim Mohd Zaini Abd & Aziz Mukhriz Izraf Azman, 2014. "Low Savings Rates in the Economic Community of West African States (Ecowas): The Role of the Political Instability-Income Interaction," South East European Journal of Economics and Business, Sciendo, vol. 8(2), pages 1-11, November.
    • Handle: RePEc:vrs:seejeb:v:8:y:2014:i:2:p:11:n:5
    DOI: 10.2478/jeb-2013-0010
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    Cited by:

    1. Nurudeen Abu & Mohd Zaini Abd Karim & Mukhriz Izraf Azman Aziz, 2015. "Corruption, Political Instability and Economic Development in the Economic Community of West African States (ECOWAS): Is There a Causal Relationship?," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 9(1), March.
    2. Adefeso, Hammed, 2018. "Corruption, Political Instability and Development Nexus in Africa: A Call for Sequential Policies Reforms," MPRA Paper 85277, University Library of Munich, Germany.
    3. Moloko Stephen MAKGELE & Peter CHIKWEKWETE, 2019. "An Investigation into Savings Behaviour of Households in Midrand, Johannesburg," Expert Journal of Finance, Sprint Investify, vol. 7(1), pages 8-21.

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