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Empirical Determinants of Saving Habits among Commercial Drivers in Ghana

Daniel Sakyi, Patrick Opoku Onyinah, Samuel Baidoo and Enock Ayesu

Journal of African Business, 2021, vol. 22, issue 1, 106-125

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.

Date: 2021
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DOI: 10.1080/15228916.2019.1695188

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