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The determinants of domestic saving in Kenya

Author

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  • Rodgers Musamali
  • Cecilia Mutia
  • Rose W. Ngugi

Abstract

The savings-growth nexus is widely acknowledged, both in policy and in the literature. But Kenya's numerous policy initiatives to encourage savings mobilization are yet to yield the expected outcomes. This paper identifies the key drivers of domestic saving in Kenya, exploiting fintech as an alternative channel for savings mobilization, and drawing lessons from the Kenyan experience so far.

Suggested Citation

  • Rodgers Musamali & Cecilia Mutia & Rose W. Ngugi, 2022. "The determinants of domestic saving in Kenya," WIDER Working Paper Series wp-2022-132, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2022-132
    as

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    References listed on IDEAS

    as
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    4. Modigliani, Franco, 1986. "Life Cycle, Individual Thrift, and the Wealth of Nations," American Economic Review, American Economic Association, vol. 76(3), pages 297-313, June.
    5. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    6. James Ang & Kunal Sen, 2011. "Private saving in India and Malaysia compared: the roles of financial liberalization and expected pension benefits," Empirical Economics, Springer, vol. 41(2), pages 247-267, October.
    7. Frimpong, Joseph Magnus & Oteng-Abayie, Eric Fosu, 2006. "Bounds testing approach: an examination of foreign direct investment, trade, and growth relationships," MPRA Paper 352, University Library of Munich, Germany, revised 09 Oct 2006.
    8. Edwards, Sebastian & Johnson, Simon & Weil, David N. (ed.), 2016. "African Successes, Volume I," National Bureau of Economic Research Books, University of Chicago Press, number 9780226316222, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Domestic savings; Growth; Policy; Fintech; Kenya;
    All these keywords.

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