• Ibrahim Nandom Yakubu Department of Banking and Finance, Ankara Yildirim Beyazit University
  • Seydou Oumarou Swiss Umef University of Niger, Niamey
  • Iliasu Abdallah Department of Islamic Economics and Finance, Marmara University



Financial sector stability, Domestic savings, FMOLS, Ghana


Domestic savings are the primary source of financing for domestic investments, hence, they play an essential role in a country's economic growth. Therefore, understanding the determinants of domestic savings is critical for policy formulation.This study investigates the impact of financial sector stability on gross domestic savings in Ghana over the period 1970-2017. Applying the Fully Modified Ordinary Least Squares (FMOLS) technique, the findings show that financial sector stability exerts a positive significant effect on gross domestic savings. Broad money supply also influences savings positively although the effect is insignificant. Also, while inflation positively and significantly impacts savings, economic growth reduces domestic savings in Ghana. The study presents some policy implications.


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How to Cite

Yakubu, I. N., Oumarou, S. ., & Abdallah, I. . (2022). FINANCIAL SECTOR STABILITY AND GROSS DOMESTIC SAVINGS IN GHANA. International Journal of Industrial Management, 13(1), 458–463.