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Empirical Determinants of Saving Habits among Commercial Drivers in Ghana

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  • Daniel Sakyi
  • Patrick Opoku Onyinah
  • Samuel Tawiah Baidoo
  • Enock Kojo Ayesu

Abstract

This study investigates the determinants of saving among individuals in the informal sector of Ghana with a focus on those engaged in commercial driving activities. The paper relies on primary data and employs descriptive analysis and the binary probit model as the estimation technique. The results reveal that commercial drivers who own the vehicle themselves, have a secondary occupation and have financial institutions close to their stations are more likely to save. In addition, the study reveals a negative relationship between age, education, financial literacy and saving. Based on these findings, relevant policy suggestions have been provided.

Suggested Citation

  • Daniel Sakyi & Patrick Opoku Onyinah & Samuel Tawiah Baidoo & Enock Kojo Ayesu, 2021. "Empirical Determinants of Saving Habits among Commercial Drivers in Ghana," Journal of African Business, Taylor & Francis Journals, vol. 22(1), pages 106-125, January.
    • Handle: RePEc:taf:wjabxx:v:22:y:2021:i:1:p:106-125
    DOI: 10.1080/15228916.2019.1695188
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