SAVINGS IN THE ABSENCE OF FUNCTIONING PROPERTY RIGHTS

Nick Silver, Emmanuel Acquaah and Oskari Juurikkala

Economic Affairs, 2007, vol. 27, issue 1, 71-75

Abstract: Nigeria is a prime example of a developing country with ill‐defined property rights. However, people still manage to save, mostly through traditional and informal means, facilitated by strong family and community institutions. This paper argues that the government should concentrate on strengthening these institutions rather than weakening them by imposing an inappropriate, Western‐style, formal pensions system on the country.

Date: 2007
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