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Descriptive Analysis of Savings and Growth in Nigeria Economy

Authors
Publisher
The International Institute for Science, Technology and Education (IISTE)
Publication Date
Disciplines
  • Economics
  • Political Science

Abstract

This study aims at providing qualitative analysis of the relationship between domestic savings and economic growth in Nigeria. This study employed annual secondary data obtained from World Data Indicator (WDI), World Bank publication and Statistical Bulletin of the Central Bank of Nigeria for the period of 1970 to 2006. Descriptive Statistics were used. This study therefore concludes that the problem with Nigeria's economy is not that of mobilizing domestic savings but that of intermediation and thus recommends that government should adopt policy enhancing intermediation between savings and investment in the economy by providing regulating and coordinating role to ensure effective intermediation between savings and growth in the economy. Key words: Domestic Savings, Economic Growth, Investment

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