@article{MAKHILLTSS20127422343,
    title = {Financial Liberalisation and Domestic Savings in Nigeria},
    journal = {The Social Sciences},
    volume = {7},
    number = {4},
    pages = {635-646},
    year = {2012},
    issn = {1818-5800},
    doi = {sscience.2012.635.646},
    url = {https://makhillpublications.co/view-article.php?issn=1818-5800&doi=sscience.2012.635.646},
    author = {Fidelis and},
    keywords = {Financial liberalisation,bounds testing,autoregressive distributed lag,savings,real interest rate},
    abstract = {The study used an Autoregressive Distributed Lagged (ARDL) 
  estimation technique, built on the McKinnon complementary hypothesis framework 
  to investigate the impact of financial liberalisation on Nigeria’s 
  domestic savings, 1970-2009. The results revealed that given domestic savings, 
  immediate past financial liberalisation, lagged one, displayed a minimal positive 
  effect, though significant did not last long as it turned to a significant negative 
  effect in the long run. The trend in shifting effects is attributed majorly 
  to inconsistency or lack of continuity in the implementation of financial liberalisation 
  reforms and the unhealthy state of the financial sector. Financial liberalisation 
  did not bring about positive real interest rate to encourage savings. Credit 
  to the private sector however had a strong positive effect on the level of domestic 
  savings in the long and short run. The study therefore concluded that interest 
  on deposit induced by liberalisation was not the major determining factor that 
  propelled depositors to save or increase savings but lack of investment alternatives 
  outside financial assets. Further, lack of effective competition among banks 
  inhibited the impact of interest deregulation on savings.}
    }