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Domestic savings in sub-Saharan Africa: The case of Ghana

Charles Godfred Ackah and Monica P. Lambon-Quayefio

No wp-2023-38, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: One essential condition of economic progress in any society is an ample supply of savings, which depends on the growth of real capital. Economists agree that higher investment rates will lead to higher growth. Thus, domestic savings is considered an important determinant of growth in developing countries. However, Ghana has one of the poorest savings performances in the world. There are many reasons for the low savings rates in Ghana.

Keywords: Domestic savings; Reforms; Time-series analysis; Finance; Ghana; Developing countries (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-afr and nep-fdg
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