The Determinants of the Household Savings Rate in Ghana

This study tests for the determinants of the household savings rate in Ghana. The dataset that was used to run the regression analysis was drawn from the Ghana-Living Standards Survey 2005-2006, which was provided by the World Bank. Due to the nature of the data, the task to determine the factors of the household savings rate was not an easy one, but there were several useful things to conclude from this research paper. The total number of household residents and total household income were statistically significant in determining the household savings rate. On the other hand, age, gender, and marital status were not statistically significant