Savings and economic diversification among youth in Ghana: implications for policy and practice
Savings remain a critical mechanism for capital accumulation for the purpose of investment in developing countries like Ghana. Using data from the Next Generation Cocoa Youth Programme (MASO) implemented by Solidaridad and partners, a bias correcting count data model was applied to determine the dri...
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| Veröffentlicht in: | Cogent economics & finance 2022-12, Vol.10 (1), p.1-15 |
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| creator | Dagunga, Gilbert Azumah, Shaibu B Zakaria, Abraham Boateng, Nathaniel A Mensah, Kwadwo B Boateng, Ethel Seiwaa Tsekpo, Emile M Kankam, Philip |
| description | Savings remain a critical mechanism for capital accumulation for the purpose of investment in developing countries like Ghana. Using data from the Next Generation Cocoa Youth Programme (MASO) implemented by Solidaridad and partners, a bias correcting count data model was applied to determine the drivers of savings, and the impact of savings on youth economic diversification. The results showed that youth trust on financial institutions as well as usage of mobile phones for digital marketing have a positive and significant effect on their decision to save at 1% significance level. The parametric results revealed a significant positive impact of savings on youth economic diversification at 1% significance level. There is thus the need for the promotion of savings among the youth as a tool by national youth policy to reduce youth unemployment in Ghana. |
| doi_str_mv | 10.1080/23322039.2022.2123887 |
| format | Article |
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Using data from the Next Generation Cocoa Youth Programme (MASO) implemented by Solidaridad and partners, a bias correcting count data model was applied to determine the drivers of savings, and the impact of savings on youth economic diversification. The results showed that youth trust on financial institutions as well as usage of mobile phones for digital marketing have a positive and significant effect on their decision to save at 1% significance level. The parametric results revealed a significant positive impact of savings on youth economic diversification at 1% significance level. There is thus the need for the promotion of savings among the youth as a tool by national youth policy to reduce youth unemployment in Ghana.</description><identifier>ISSN: 2332-2039</identifier><identifier>EISSN: 2332-2039</identifier><identifier>DOI: 10.1080/23322039.2022.2123887</identifier><language>eng</language><publisher>Abingdon: Taylor & Francis</publisher><subject>Accumulation ; Capital formation ; Cocoa ; Consumption ; Developing countries ; Diversification ; Economic diversification ; Economic growth ; Employment ; Empowerment ; Endogenous switching Poisson ; Financial institutions ; GDP ; Gross Domestic Product ; Growth models ; Informal economy ; LDCs ; Marketing ; MASO Programme ; Mobile phones ; Savings ; Science education ; Unemployment ; Youth</subject><ispartof>Cogent economics & finance, 2022-12, Vol.10 (1), p.1-15</ispartof><rights>2022 The Author(s). 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There is thus the need for the promotion of savings among the youth as a tool by national youth policy to reduce youth unemployment in Ghana.</description><subject>Accumulation</subject><subject>Capital formation</subject><subject>Cocoa</subject><subject>Consumption</subject><subject>Developing countries</subject><subject>Diversification</subject><subject>Economic diversification</subject><subject>Economic growth</subject><subject>Employment</subject><subject>Empowerment</subject><subject>Endogenous switching Poisson</subject><subject>Financial institutions</subject><subject>GDP</subject><subject>Gross Domestic Product</subject><subject>Growth models</subject><subject>Informal economy</subject><subject>LDCs</subject><subject>Marketing</subject><subject>MASO Programme</subject><subject>Mobile phones</subject><subject>Savings</subject><subject>Science education</subject><subject>Unemployment</subject><subject>Youth</subject><issn>2332-2039</issn><issn>2332-2039</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2022</creationdate><recordtype>article</recordtype><sourceid>0YH</sourceid><sourceid>BENPR</sourceid><sourceid>DOA</sourceid><recordid>eNqFUU2PFCEQ7RhN3Kz7EzYh8TwjUNCAJ81G10028aCeSQ0Ns0y6mxZ61sy_l94ev06eCor3XhXvNc01o1tGNX3DATinYLaccr7ljIPW6llzsfQ3y8Pzv84vm6tSDpRSJpjQ2lw09gs-xnFfCI4d8S6NaYiOdPHR5xJDdDjHNBIc0rgnp3ScH0gcye0DjviWxGHqz4hCQspkSvV-epKaMro5Ov-qeRGwL_7qXC-bbx8_fL35tLn_fHt38_5-4yTQeWOU4tAqaTgyJ0Bxg8p0irYOlmU900ryQEG1PgTK6l-c7igKkNxLBIDL5m7V7RIe7JTjgPlkE0b71Eh5bzHXhXpvg-I6CLWTGlshBKCn2gQlpYCdAbGrWq9XrSmn70dfZntIxzzW9S1XqppuQMqKkivK5VRK9uH3VEbtEo39FY1dorHnaCqPrLzF7Vj-sLQWwKlpWYW8WyFxrLYO-CPlvrMznvqUQ8bRVRr8b8r1P1OWUuaULVQTjYKfhbGmtg</recordid><startdate>20221231</startdate><enddate>20221231</enddate><creator>Dagunga, Gilbert</creator><creator>Azumah, Shaibu B</creator><creator>Zakaria, Abraham</creator><creator>Boateng, Nathaniel A</creator><creator>Mensah, Kwadwo B</creator><creator>Boateng, Ethel Seiwaa</creator><creator>Tsekpo, Emile M</creator><creator>Kankam, Philip</creator><general>Taylor & Francis</general><general>Cogent</general><general>Taylor & Francis Ltd</general><general>Taylor & Francis Group</general><scope>OT2</scope><scope>0YH</scope><scope>OQ6</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7XB</scope><scope>87Z</scope><scope>8BJ</scope><scope>8FK</scope><scope>8FL</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FQK</scope><scope>FRNLG</scope><scope>F~G</scope><scope>JBE</scope><scope>K60</scope><scope>K6~</scope><scope>L.-</scope><scope>M0C</scope><scope>PIMPY</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>Q9U</scope><scope>DOA</scope><orcidid>https://orcid.org/0000-0001-6835-6546</orcidid></search><sort><creationdate>20221231</creationdate><title>Savings and economic diversification among youth in Ghana: implications for policy and practice</title><author>Dagunga, Gilbert ; 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| source | Taylor & Francis Open Access; DOAJ Directory of Open Access Journals; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals |
| subjects | Accumulation Capital formation Cocoa Consumption Developing countries Diversification Economic diversification Economic growth Employment Empowerment Endogenous switching Poisson Financial institutions GDP Gross Domestic Product Growth models Informal economy LDCs Marketing MASO Programme Mobile phones Savings Science education Unemployment Youth |
| title | Savings and economic diversification among youth in Ghana: implications for policy and practice |
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