Status and determinants of saving behavior and intensity in pastoral and agro-pastoral communities of Afar regional state, Ethiopia
Saving is a crucial tool for enhancing the livelihoods of pastoral and agro-pastoral communities, but due to a number of factors, its status and intensity are still in their infancy. Because of this, the current state of saving practices, their causes, and the size of pastoral and agro-pastoral comm...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Public Library of Science (PLoS)
2023-01-01
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| Series: | PLoS ONE |
| Online Access: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9934354/?tool=EBI |
| _version_ | 1797903229650993152 |
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| author | Dagmawe Menelek Asfaw Atinkugn Assefa Belete Abibual Getachew Nigatu Getnet Mamo Habtie |
| author_facet | Dagmawe Menelek Asfaw Atinkugn Assefa Belete Abibual Getachew Nigatu Getnet Mamo Habtie |
| author_sort | Dagmawe Menelek Asfaw |
| collection | DOAJ |
| description | Saving is a crucial tool for enhancing the livelihoods of pastoral and agro-pastoral communities, but due to a number of factors, its status and intensity are still in their infancy. Because of this, the current state of saving practices, their causes, and the size of pastoral and agro-pastoral communities are all examined in this study. A multi-stage sampling process was used to determine the 600 typical selected households. In order to assess the data, a double hurdle model was used. From the descriptive analysis result, only 35% of pastoral and agro-pastoral groups were savers. In comparison to their counterparts, households who have access to credit, are financially literate, engage in non-farm activities, cultivate crops in addition to livestock husbandry, use informal financial institutions, are educated, and wealthier are more likely to be savers and eager to save a larger amount of property. Households with more livestock and who live far away from formal financial institutions, on the other hand, are less likely to be savers and save only a small fraction of their income. Male-headed families are more likely to participate in saving decisions, whereas female-headed households must save more than their male counterparts once they have opted to save. Instead of relying on ineffective monetary policy (changing interest rates), any concerned bodies should emphasize mixed farming practices, establish financial institutions nearby to improve saving habits, provide non-farm training, and empower women in order to close the gap between savers and non-savers and mobilize resources to save and invest. Furthermore, raise awareness of financial institutions’ products and services, as well as provide credit. |
| first_indexed | 2024-04-10T09:29:36Z |
| format | Article |
| id | doaj.art-25ff233c5a60446abef6c3199437f042 |
| institution | Directory Open Access Journal |
| issn | 1932-6203 |
| language | English |
| last_indexed | 2024-04-10T09:29:36Z |
| publishDate | 2023-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj.art-25ff233c5a60446abef6c3199437f0422023-02-19T05:31:34ZengPublic Library of Science (PLoS)PLoS ONE1932-62032023-01-01182Status and determinants of saving behavior and intensity in pastoral and agro-pastoral communities of Afar regional state, EthiopiaDagmawe Menelek AsfawAtinkugn Assefa BeleteAbibual Getachew NigatuGetnet Mamo HabtieSaving is a crucial tool for enhancing the livelihoods of pastoral and agro-pastoral communities, but due to a number of factors, its status and intensity are still in their infancy. Because of this, the current state of saving practices, their causes, and the size of pastoral and agro-pastoral communities are all examined in this study. A multi-stage sampling process was used to determine the 600 typical selected households. In order to assess the data, a double hurdle model was used. From the descriptive analysis result, only 35% of pastoral and agro-pastoral groups were savers. In comparison to their counterparts, households who have access to credit, are financially literate, engage in non-farm activities, cultivate crops in addition to livestock husbandry, use informal financial institutions, are educated, and wealthier are more likely to be savers and eager to save a larger amount of property. Households with more livestock and who live far away from formal financial institutions, on the other hand, are less likely to be savers and save only a small fraction of their income. Male-headed families are more likely to participate in saving decisions, whereas female-headed households must save more than their male counterparts once they have opted to save. Instead of relying on ineffective monetary policy (changing interest rates), any concerned bodies should emphasize mixed farming practices, establish financial institutions nearby to improve saving habits, provide non-farm training, and empower women in order to close the gap between savers and non-savers and mobilize resources to save and invest. Furthermore, raise awareness of financial institutions’ products and services, as well as provide credit.https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9934354/?tool=EBI |
| spellingShingle | Dagmawe Menelek Asfaw Atinkugn Assefa Belete Abibual Getachew Nigatu Getnet Mamo Habtie Status and determinants of saving behavior and intensity in pastoral and agro-pastoral communities of Afar regional state, Ethiopia PLoS ONE |
| title | Status and determinants of saving behavior and intensity in pastoral and agro-pastoral communities of Afar regional state, Ethiopia |
| title_full | Status and determinants of saving behavior and intensity in pastoral and agro-pastoral communities of Afar regional state, Ethiopia |
| title_fullStr | Status and determinants of saving behavior and intensity in pastoral and agro-pastoral communities of Afar regional state, Ethiopia |
| title_full_unstemmed | Status and determinants of saving behavior and intensity in pastoral and agro-pastoral communities of Afar regional state, Ethiopia |
| title_short | Status and determinants of saving behavior and intensity in pastoral and agro-pastoral communities of Afar regional state, Ethiopia |
| title_sort | status and determinants of saving behavior and intensity in pastoral and agro pastoral communities of afar regional state ethiopia |
| url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9934354/?tool=EBI |
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