WOLAITA SODO UNIVERSITY GENDABA CAMPUS

COLLAGE OF AGRICULTURE
DEPARTMENT OF AGRICULTURAL ECONOMICS.

ASENIOR RESEARCH PROPOSAL ON DETERMINANTS OF

HOUSEHOLD HABITS OF SAVING: THE CASE OF MEKANESELAM
DISTRICTS OF SOUTH WOLLO ZONE ,AMHARA REGIONAL STATE ,

PREPARED BY

NAME ID NO

ALEMZER FSEHA UGR/55086/13

ADVISOR :-ALEMAYEHU ASALE(PHd.)

MAY 2024

WOLAITA SODO,ETHIOPIA

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 ACKNOWLEGEMENT
First of all, we would like to thanks and greater gratitude goes to the almighty’’ God ‘for giving
us health, unity, peace and spiritual strength to accomplish our research proposal. Next we
would like to express our great respects as thanks to our adviser Alemayehu A(PHd). For
His un reserved comment evaluation to conduct the research proposal from beginning to the
end. Thirdly also we would like to thanks & respect our families for supporting us by
financial &giving as moral strength until this time & to the future. The end we would like to
thanks & respect to Wolaita Sodo University Gendaba campus & collage of agriculture,
department of agricultural economics.

Table of Contents Page

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.
ACKNOWLEGEMENT................................................................................................................i

LIST OF TABLE ………………………………………………………………..……………………………………iii

ACRONYM...................................................................................................................................iv

ABSTRACT………………………………………………………………………………………………………………………………………….. v
1. INTRODUCTION...................................................................................................................1

1.1 Background of the Study........................................................................................................1

1.2 Statement of the Problem.....................................................................................................3

1.3 Objectives.........................................................................................................................4

1.3.1 General Objectives........................................................................................................4

1.3.2 Specific Objectives........................................................................................................4

1.4 Scope of the study................................................................................................................4

1.5 Significance of the study......................................................................................................5

2. LITERATURE REVIEW.......................................................................................................6

2.1 Theoretical Literature Review.............................................................................................6

2.1.1 Conceptual Framework.................................................................................................6

2.2 Empirical Literature.............................................................................................................9

2.2.1 Relationship between Saving and Income.....................................................................9

2.2.2 Saving Patterns of Household and Money Owed to the Households..........................10

2.2.3 Saving and Money Deposited in Banks......................................................................10

2.2.4 Saving Behavior and Household Investments.............................................................10

2.2.5 Saving Behavior and Preference for Saving................................................................10

3. RESEARCH METHDOLGY...............................................................................................11

3.1. Description of the Study Area.............................................................................................11

3.2. Type of Research Design....................................................................................................11

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 3.3 Type and Source of Data....................................................................................................12

3.5 Sampling Technique and Sample Size...............................................................................13

3.5.1. Sampling Technique.....................................................................................................13

3.5 .2 . Sample Size................................................................................................................13

3.6. Methods of Data Analysis.................................................................................................14

4. BUDGETING AND WORK PLAN.......................................................................................15

4.1 Budgeting.............................................................................................................................15

4.2 Time Schedule......................................................................................................................16

5. REFERENCES........................................................................................................................17

LIST OF TABLE

Table page

Table1: Budgeting and work plan ……………………………………………………………..15

Table2: Time schedule…………………………………………………………………………16

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 ACRONYM

APC Average Propensity to Save

FGD Focus Group Discussion

LCH Life-Cycle Hypothesis

MPC Marginal Propensity to Consume

OLS Ordinal least Square

ACSI Amhara credit and saving institution

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ABSTRACT

This research aims to investigate the factors influencing the saving behavior of rural households. The
study will explore the determinants of saving habits among rural communities, considering demographic
and socio-economic characteristics. By employing a mixed-methods approach, including quantitative
surveys and qualitative interviews, the research seeks to provide comprehensive insights into the saving
practices of rural households. The findings are expected to inform targeted interventions and strategies to
promote savings and financial security in rural areas, benefiting policymakers, financial institutions, and
development organizations. The research proposal will focus on understanding the specific factors that
drive saving behavior in rural households, such as income levels, access to financial services, education,
and cultural attitudes towards savings. By examining these determinants, the study aims to shed light on
the challenges and opportunities for improving financial inclusion and promoting sustainable saving
habits in rural communities.

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 1. INTRODUCTION

1.1 Background of the Study

Ethiopia is a developing country where, there has been a consistent increase in the national
saving rate after the independence period, though with considerable fluctuations from year to
year .The present study tries to analyze the determinants and pattern of saving behavior in rural
household in Ethiopia(NAYAT,2005). Saving is an important variable for every country to be
studied for the economic growth and development of any country. Saving is an important
macroeconomic variable to be studied under the purview of the economic arena on an individual
as well as household basis.

According to classical economists like Adam Smith, David Ricardo and J.S.Mill, “saving is an
important determinant of economic growth”. Saving components can be based on an individual
or on household basis which proves to be the wellbeing. As for an individual saving becomes the
cushion for the future’s intercourse of the unforeseen and upcoming as well as the uncertain
circumstances of life. Saving is the part of the income earned by the individuals. For the higher
economic growth for the country, marginal propensity to save should be higher but it helps to the
multiplier process. .

Saving is among important variables for economic growth of any country. Saving is about
income that is not consumed by immediately buying goods and services. Saving constitutes the
basis for capital formation, investment and growth of a country. Serious problem confronting
poor countries including Ethiopia is the savings and investment gap. Because of this gap, these
countries find it difficult to finance investments needed for growth from domestic saving (Kifle,
2012).

According to kifle (2012), it is also common to see these countries to finance their investment in
the short run partly through domestic government borrowings and/or foreign loan and grants but
this would significantly increase the country’s debt burden and would not be a solution in the
long run. However, both economic variables are not emphasized as a major variable for
interventions for overall development in Africa in general and Ethiopia in Particular.

This is the case mainly because of: First, most of the studies carried out in the field have focused
on developed economies and unable to show the ground reality in poor developing countries.
Second, most of the studies adopted a macroeconomic approach yet the behavior of economic
units on the aggregate level may not necessarily be the same as on an individual or household
level. And third, even the existing limited empirical research results in Africa related to rural
household savings and investment are varied and inconclusive.

The saving level in Ethiopia particularly in rural areas is very low and little is known empirically
about its patterns and determinants. Savings in rural Ethiopia is mainly made out of the income
from agricultural activities ( Kifle, 2012).

Girma sighted as Degene (2012), seasonal and irregular as the cash flow through sale of
agricultural produce and availability of work is seasonal. This reduces their financial capacity to
save or poorly respond to incentives that promote savings in the country.

However, rural households do indeed save in the form of tangible assets and/or in financial forms
which can be potentially utilized by savings institutions and for investments which is very
essential for both households and nation.

Domestic savings consists of three compromise savings are important determinants of household
welfare(Freidman,1957).On one hand, without savings, households have few other mechanisms
to smooth out In recent years, economists, international organizations, and governments in
developing countries have placed increasing emphasis on the mobilization of deposits, not only
to increase domestic savings, to achieve sustained economic growth and development but also to
strengthen domestic financial intermediaries . The recent financial crisis has led to serious
repercussions in the global economy due to deep economic and moral losses of investors. These
events revealed the relevance of saving and especially its allocation in the nation economy
Indeed, saving is very important in the development of industrial and financial systems as well
as the only means to accumulate assets in the absence of credit and insurance markets to
households(Girma,2013).Although there is controversy regarding the relation between savings
and economic growth, it is generally agreed that once savings start to rise-perhaps due to
increases in income-they enhance the potential to finance investment, and lead to the creation of
more opportunities in the economy.

Household saving could be accumulating in real assets or financial assets. Large part of saving
accumulation in developing countries is in the form of real assets. These include livestock,
precious metals, or food stocks. However, these real assets less useful for industrial activities
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since it does not liquid. The weakness saving in real assets is important reason for household in
developing countries to save in financial assets. They could save in banks or non-bank financial
institutions in cash form. In this respect, access to financial institution that meets liquidity needs
is crucial. This is the reason to introduce rural financial institution such as saving and credit
cooperatives that strategic in order to increase financial savings and loan facilities (kifle, 2012).

1.2 Statement of the Problem

Saving is a very important component which is responsible for combating or meeting any
emergency occurred by the individuals or the households or any corporate agencies. Saving is
more of meant for meeting contingencies but sometimes it also acts as a form of investment. But
sometimes people are not inclined towards saving and the very delicate reason is lack of
awareness. The present study can be a relevant one to know the reason of lower saving patterns
of households and what are the determinants which are responsible for saving. Aggregate saving
in any economy is dependent on a number of variables (Girma, 2012). For effective economic
planning, the planners should have an idea regarding the volume of saving of different groups of
people and the method by which saving can be improved more over in a better way. Right now,
saving more and spending more simultaneously has become the basic and conflicting factor for
the economy. The researcher focused on the determinant of household habits of saving, which is
not yet deeply studied in Ethiopia. In Ethiopia especially at South Wollo Zone in mekaneselam
district there is a very poor access houses holds in the improvement of the habits of saving of
households in the study area. Having the constraints and gaps in mind, this study will be used to
show the major performance and problems on the household habits of saving in the study area
and to saving habit improvement actors to improve the income or standard of living through
providing some possible solutions in the major constraint areas which base the major findings. In
general, this study will addresses the determinants of household habit of saving in improving the
income of households in the study area.
The present influence of the households in this district has lack of awareness about the use of
saving, inaccessibility sufficient saving and credit institution.

Thus, there is an immediate need to carefully understand the determinants of both the household
saving habit and the saving pattern in the rural households of district. To advocate appeals for
saving, there is a need to know about the saving motives of the individuals. An understanding of

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the saving preferences also helps in calculating the saving instruments which can efficiently
arouse saving. Research questions

2. What are the factors affecting the household habits of saving in the areas of study?
3. What looks like the saving performance of households in the study area?
4. What are the constraints which faces households saving habits?

1.3 Objectives

1.3.1 General Objectives

The general objective is assessing the determinants of household habits of saving in case of
mekaneselam district of Amhara regional state ,Ethiopia

1.3.2 Specific Objectives

Specific objectives of the study will be as follows:

 To identify the factors affecting the growth of household habit of saving in the study area.
 To assess the performance households toward their saving culture in the study area.
 To identify the major constraints that influences household saving patterns.

1.5 Scope of the study

The study will be conducted in mekaneselam district around Dessie Town South wollo zone in
Amhara region that focus on the determinants of household habits of saving. The limitations that
will be faced during the study are, mainly in the collection of data which are relevant to our
study. In collecting data, absence of relevant, accurate and specified secondary and primary data
in the study area will its own obstacle to analysis. It will be focused on identifying the
determinant factors that force people to their saving habit and using saving of institutions.

In this area; As far as the time limit is concerned this study will focuses on the current situation
of household’s habit of saving.

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1.6 Significance of the study
There are not many studies conducted or available relating to the determinants of saving pattern
of the rural people of Ethiopia at the micro level. Most of the studies on saving pattern of rural
people are based on secondary data which sometimes does not prove to be adequate for the
study. Most of the data available does not serve the needs of Ethiopia in a ground level
prospective. While studies conducted on the saving and income expenditure among rural and
urban households for various expenditure classes, little effort has been made to study the saving
pattern related to the individual’s behavior towards saving within rural sector. The study will be
taken to be on pattern of saving habits in the households that provides an important indicator for
economic development of the country. This study will also help to define the factors influencing
the saving pattern and to analyze certain constraints in the saving attitude in the rural areas.

2. LITERATURE REVIEW

2.1 Theoretical Literature Review

2.1.1 Conceptual Framework

Household: A social unit living together where all the individuals share a common kitchen.
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 Savings: The share of disposable income not spent on consumption of consumer goods but
accumulated or invested straight in capital equipment or in paying off a home mortgage or not
directly throughout purchase of securities.

Financial institutions: Private (shareholder-owned) or public (government-owned)

organizations that, generally speaking, act as a way between savers and borrowers of funds
(suppliers and consumers of capital).
Consumer spending pattern: Good and services bought by households in the fulfillment of
their needs and wants. It includes non-durables such as food, semi-durables such as clothing and
durables such as refrigerators etc.
Average Propensity to Save: Fraction or percentage of disposable (after tax) personal income
not spends for consumer goods. It in general varies with the intensity of income.
Household savings is defined as that part of current income, after the payment of direct taxes,
which is not consumed or transferred for future consumptions. Saving includes current
disbursements made in the form of a reduction in household liabilities, such as repayment of
loans. By contrast, any portion of the current expenditure of households not financed by current
income but rather by the use of credit represents an increase in the financial liabilities of
individuals and is treated as negative saving. In addition, household saving includes regular and
recurring employer and employee contributions to pension and insurance funds and the interest
earned on those funds. Saving is also defined in terms of flows in the current account and
excludes any capital gains and losses (Schultz, 2005; Nga, 2007; Cronje, 2009).

There are some theoretical models in the literature which explains different determinants of
savings and asset accumulations (Schultz, 2005; Nga, 2007; Rijckeghem and Ucer, 2009).
Keynesian model explains that the motive behind savings is the desire to bequeath an estate.

Disposable income is taken as the major determinant of individual savings in which People with
a low income considered as unable to save (Schultz, 2004; Nga, 2007; Rijckeghem and Ucer,
2009). In neoclassical economic theory, individuals are assumed to be rational beings who can
respond in predictable ways to changes in incentives. Individual utility is usually assumed to be a
function of consumption and savings are often treated by residual of resources that remain after
consumption (Beverly et al., 2003; Cashell, 2009; Rijckeghem and Ucer, 2009).

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However, these theories were initially developed for developed economies and unable to explain
the economy and the feature of households in developing countries as they have different
characteristics (Schultz, 2005; Nga, 2007). According to Zhu (2004), some of the peculiar
features of household’s savings in developing countries in general and their rural areas in
particular are; large household size, agriculture as a major source of income and most households
live in abject poverty.

Many researchers indicate that many rural households in developing countries, particularly in
Africa, are too poor to save (Rutherford, 2000; Robinson, 2001; Devaney et al., 2007). However,
as Coleman and Williams (2006) stated, the poor do save even though they do not have complete
access to savings facilities in formal financial institutions. Instead, they use informal institutions
for their savings. These include livestock, crop products, housing materials, farm equipment, and
some other precious metals like jewelry.

Low saving has been a dominant feature of the Ethiopian Economy. At household level,
irrespective of small size, rural households in Ethiopia do save in many ways, as individuals or in
a group. They usually save in kind mainly in food-grains or in livestock (Dejene, 2006).

In recent years economists, international organizations and governments in developing countries

have placed increasing emphasis on the mobilization of deposits not only to increase domestic
savings, to achieve sustained economic growth and development but also to strengthen domestic
financial intermediaries ( Besley, 1995). Similar study by Baharumshah et al, (2003) argues that
the existence of positive effects of household savings on economic growth. The recent financial
crisis has led to serious repercussions in the global economy due to deep economic and moral
losses of investors (Bhalla, 1998). These events revealed the relevance of saving and especially
its allocation in the nation economy (Bernhiem and Shoven, 1991).

Indeed, saving is very important in the development of industrial and financial systems
(Attanasio, 1998; Baharumshah et al., 2003) as well as the only means to accumulate assets in
the absence of credit and insurance markets to households. Although there is controversy
regarding the relation between savings and economic growth, it is generally agreed that once
savings start to rise-perhaps due to increases in income-they enhance the potential to finance
investment , and lead to the creation of more opportunities in the economy (Attanasio,1998;
Bernhiem and Shoven, 1998).

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Domestic savings consists of three components, viz., corporate, households, and government
savings. Household saving could be accumulating in real assets or financial assets. Large part of
saving accumulation in developing countries is in the form of real assets (Rehman et al.,2010).
These include livestock, precious metals, or food stocks. However, these real assets less useful
for industrial activities since it does not liquid. The weakness saving in real assets is important
reason for household in developing countries to save in financial assets (Deaton, 1989). They
could save in banks or non- bank financial institutions in cash form. In this respect, access to
financial institution that meets liquidity needs is crucial. This is the reason to introduce rural
financial institution such as saving and credit cooperatives that strategic in order to increase
financial savings and loan facilities. Household save for a variety of reasons such as liquidity
constraint or life cycle savings. In developing countries savings are important determinants of
household welfare. On one hand, without savings, households have few other mechanisms to
smooth out unexpected variations in their income, and so, shocks may create some problems of
human capital accumulation at early ages (Attanasio, 1998).

2.2 Empirical Literature

According to Degene (2003), Low saving has been a dominant feature of the Ethiopian
Economy. The average share of gross domestic savings and investment from GDP was 12.4 and
18.5 percent which is very low, respectively. At household level, irrespective of small size, rural
households in Ethiopia do save in many ways, as individual or in a group. They usually save in
kind mainly in food grains or in livestock.

2.2.1 Relationship between Saving and Income

The present study empirically examines the relationship between saving, income and
consumption showing a positive relationship between saving, income and consumption. As the

8
income of the individual increases, consumption increases and simultaneously saving also
increases (Bernhiem and Shoven, 1991). Economic studies have shown that income is the
primary determinant of consumption and saving. Rich people save more than poor people, both
absolutely and as a percent of income. The very poor are unable to save at all. Instead, as long as
they can borrow or draw down their wealth, they tend to save. That is they tend to spend more
than they earn reducing they are accumulated saving or going deeper into debt. So we can say
that there is a deep relationship between consumption, income and saving and they all affects to
each other which can be shown with the equation,(Sameroynina ,2005);. :

C=f(Y)

Y=C+S Where; C=Consumption

S=Saving

S=Y-C Y=Income

Many people fail to save what they need to for retirement (Munnell, Webb, and Golub-Sass
2009). In economics, the life-cycle hypothesis (LCH) is a concept addressing individual
consumption patterns. The life-cycle hypothesis implies that individuals both plan their
consumption and savings behavior over the long-term and intend to even out their consumption
in the best possible manner over their entire lifetimes. The key assumption is that all individuals
choose to maintain stable lifestyles. This implies that they usually don't save up a lot in one
period to spend furiously in the next period, but keep their consumption levels approximately the
same in every period.

2.2.2 Saving Patterns of Household and Money Owed to the Households

Understanding how people save in particular, knowing whether certain people are more
vulnerable financially because of their saving choices financial preparedness for retirement and
anticipate their economic well-being thereafter. In recent years, employer pension schemes have
shifted from defined benefit to defined contribution plans, and interest in reforming part of the
Social Security retirement system has increased. Thus pension plans and Social Security are
becoming or may become more like individual saving. Research on how people save is needed to
help gauge the economic security of future retirees, inform the current debate on Social Security
reform and prevent inequalities in wealth from being perpetuated (Sameroynina ,2005)

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2.2.3 Saving and Money Deposited in Banks
Sometimes people think they are doing finances well when those money-saving behaviors are
really compromising the security of their savings. A budget and regularly depositing money into
a saving account will build up a nice buffer in case fall on hard times, but also doing these things
can potentially put a big hole in that safety net. Poor is not that relational in depositing in banks
because of less income (Rehman H, Faridi Z, Bashir F, 2010)

2.2.4 Saving Behavior and Household Investments

The investments made by the households in different sectors are subjected to high income and
more savings. The rural households have very less income and high consumption as their
marginal propensity to consume is high and they are subjected to save less which significantly
puts an impact on their investment pattern (Attanasio, 1998, Bernhiem and Shoven, 1991).
Investments in unincorporated businesses and farms or rental properties are no where applicable
for these communities.

2.2.5 Saving Behavior and Preference for Saving

in The rural communities have a very less income which supposes them to save less and even if
they save they prefer the savings account through which they can have easy way of transaction at
any point of time and they save a very less amount in the financial institutions showing a
significant result of saving (Cashell, B.W, (2009)).

3. RESEARCH METHDOLGY

3.1. Description of the Study Area

The study will be conducted in werke meskele kebele, mekaneselam district in the South Wollo
zone which is 470 km away from Adis Ababa.The woreda surrounds Dessie town. Dessie is
capital city of South Wollo zone. The study area is located approximately between 38 degrees
and 40 degrees longitude, 470 km from adis ababa. The total area of the district is about 13,965
hectares of which11,442 hectares are cultivate Although the soil type varies from place to place,
black’ soils are the common ones. The mean annual rainfall of the study area receives maximum,
10
medium and minimum rainfall of 1,400, 1,150 and 900 mm, respectively. The mean daily
maximum and minimum temperature of the area is 21.40 0C and 10.40 0C, respectively. The
altitude of the study area is ranges from 1,350 to2,600 meters above sea level (DZWARD
Office, 2007; CSA, 2007).

The total population of the district is estimated to be 97,327 of which 48,835 and 48,492
are males and females, respectively. The district comprises about 27,130 household heads
of which 22,796 are male household heads and 4,334 are female household heads. The district
has 19 Peasant Associations (PAs) and each PA has agriculture development center. There are
106 agricultural development agents in the district and about 25,506 farmers have access to
extension services (DZWARD Office, 2010).

The major land use of the area was mixed farming systems. The area is relatively described by
low level of livestock rearing practices mainly due to shortage of grazing land. According to the
district agriculture and rural development office, in 20011/12 production year, there are a total of
86,306 livestock population in the district. The major animal species kept are about, 34.97%
heads of cattle, 33.67% heads of chickens and 22.99% heads of sheep and goats, and 8.37%
heads of equines. In addition to this, 5507 beehives are also found in the district.

3.2. Type of Research Design

A cross-sectional type of research design will be used, which employed comparative study
between participants and non- participants of household habits of saving scheme. Furthermore,
descriptive survey type of research will be used.
Cross-sectional survey design will be selected to collect data from the sample population at
specific point in time and based on the results to make generalizations. Descriptive survey
research will be chosen to generally describe the differences experienced by households will be
used from obtaining habits of saving in comparison with non-beneficiary households.

3.3 Type and Source of Data

This research will be used quantitative and qualitative types of research. Quantitative research
will be taken to generally describe the amount of income earning monthly (yearly), amount of
income to save and how much to consume from total amount of income. On the similar manner
qualitative type of research will be used to explain in detail why people develop their saving
habits. This study will be used both primary and secondary sources. Primary source will be based
11
on data collection through focus (target) group discussion .The secondary data will also be
collected from annual reports, internets, published and unpublished documents.

3.4. Methods of Data Collection

Primary data through informal and formal survey will be collected. Informal survey will be under taken
first; to collect background information which will be used for subsequent survey. Then formal survey
will conducted to assess the determinants of household habits of saving in the study area by using
structured questionnaires interview schedule and checklist for focus group discussion. The
interview will be help to gather the necessary qualitative and quantitative information through
asking questions and writing down the response of the respondents which build research purpose.
It will be proposed to those people selected as a sample. On the other hand, focus group
discussion will used by our to obtain qualitative data. FGD allowed a dialogue among
participants and stimulates them to openly express their views on the issues raised.

Secondary data will be collected through reviewing of documents, reports and records of
published and unpublished documents. It is the main source of information and these data will
easily available inexpensive and obtained quickly. These secondary data indicate the past and
current performance of Determinants Of Household Habits Of Saving.

3.5 Sampling Technique and Sample Size

3.5.1. Sampling Technique

This study will be used probability sampling techniques to draw a representative sample. Two
stage sampling techniques will be used to select sample households. In the first stage, simple
random sampling of one kebele from the 37 kebeles found in the district. In the second stage
from these 1 kebeles 1223 male and 1227 female headed households are randomly selected.
Probability proportional to sample size was employed to select the total of sample farmers.
Hence, a total of 2450 households were selected.

3.5 .2 . Sample Size

The size of the sample depends up on the precision desires and there is no single rule that can be
used to determine sample size. But the larger sample is much more likely to be representative of
the population given werke meskele kebele. So in these cases, our total population of the study
12
area is about 2450 from which 1223 are males and 1227 are females headed household. Due to
the representativeness of the whole population, the target population will be minimized to about
100 households. And in the other word from the total population 100 households will took as a
target population, because they all are mixed in farmers, governmental employed, students,
private sectors etc.

The researcher will be select 100 respondents using simple random sampling or According to
Yamane (1967) sample size at 95% confidence interval, the degree of variability 0.05 and level
of precession 10% sample size was computed as follows

: Purposive stratified random sampling technique was use

N
By formula n= Where, N=Total of population
1+ N (e 2)

e=precession n=sample size

N=2450

e=0.1

2450 2450 2450

n= n= n= =96
1+ 2450 ( 0 .1 ) 2 1+24.5 25.5

3.6. Methods of Data Analysis

In this study descriptive statistics analyses will be used to conduct determinants of household
habit of saving. To describe the characteristics of households who have saving habit’ descriptive
statistics like mean, percentage and frequency will be employed.

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 4. BUDGETING AND WORK PLAN

4.1 Budgeting
No Item Unit Amount Unit Total
price

1 Pen No 4 25 100

Paper Packet 1/4 600 150

Stationery Note book No 1 30 30

Ruler No 1 20 20

Binding No 1 25 25

Total 325

2 Communication Telephone 150

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 3 Internet 128

CD No 1 40 40

Others Copy Paper 25 2.75 68.75

Total 386.75

4 Transportation Student(Me) No 150 150

5 Contingency 100

6 Total 961.75

4.2 Time Schedule

No Activity Duration of time on the moth

Feb March Apr May June

July Aug Sept Octo

1 Topic selection 

2 Literature review  

3 Proposal  

4 Data collection  

5 Data processing  
and analysis

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6 Reporting writing   

7 Submission and 
presentation

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Human Resources. 33(3): 575-609.

Baharumshah A, Thanoon MA, Salim R (2003). Saving dynamics in the Asian countries. J.
Asian Econ.. 13(6): 827- 845.

Bernhiem BD, Shoven JB (1991). National Saving and Economic Performance. NBER-
University of Chicago Press. 131-158.

Besley T(1995). Chapter 36 Savings, credit and insurance. Handbook of Development

Economics. 3: 2123-2207.

Beverly S, Sherraden M (1999). Institutional determinants of saving: implications for low-

income households and public policy. Journal of Socio-Economics. 28(4): 457-473.

Beverly, G. Sondra, A. McBride, and M. Schreiner, (2003). A Framework of AssetAccumulation

Stages and Strategies. Journal of Family and Economic Issues, 24 (2): 143-156.

Brata AG (1999). Household Saving Behavior: The case of rural industry in Bantul. Analysis
CSIS. 28(1): 75-86. Browning M, Lusardi A (1996). Household Saving: Micro Theories
and Micro Facts J. Econ. Literature. 34: 1797-1855.
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Cashell, B.W., (2009). The Fall and Rise of Household Saving. CRS Report for Congress.
Congressional Research Service 7-5700.

Christensen G (1993). The limits to informal financial intermediation. World Development.

21(5): 721-731.

CSA (Central Statistical Agency), (2010). FDRE General Country Data. Cronje, Mark , (2009).
Creating a Savings Culture for the Black Middle Class in South Africa - Policy
Guidelines and Lessons from China and India. University of Stellenbosch, South Africa.

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