Impact of Inflation on Savings and Investments of Cooperative Societies in Awka South Local Government Area

Obianuju Emmanuela Agbasi and Felix Onoh
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Obianuju Emmanuela Agbasi: Department of Cooperative Economics and Management, Nnamdi Azikiwe University, Awka, Nigeria.
Felix Onoh: Department of Cooperative Economics and Management, IMT Enugu State, Nigeria

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 3s, 2007-2021

Abstract: This study is to ascertain the impact of inflation on savings and investments of cooperative societies in Awka South local government area. The researcher set to determine the effect of inflation on member’s savings, member’s investment and roles of cooperatives in addressing issue of inflation in the study area. To guide this study, three research questions and two hypotheses were formulated in line with the objectives of the study. The study was anchored on International Fisher Effect Theory by Irving Fisher (1930). The study employed a descriptive survey design, the instrument for data collection was questionnaire constructed for the study and calibrated with the 5-point Likert ordinal measurement and rating scale. The population of the study was 268 selected cooperatives members in Awka South local Government Area of Anambra State. The sample size used was 161 cooperative members using Taro Yamane formular. Adopting a judgmental sampling technique, 161 questionnaires was distributed, and 127 copies of questionnaire were completed and returned and used for this study which represent 78.9% response rate. Research hypotheses were tested using Z-Test. The finding revealed that there is a significant effect of inflation on member’s savings in the study area, had a p-value 0.0107 (p

Date: 2024
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