Determinants of the personal savings rate in the Kingdom of Saudi Arabia using time savings deposits, 2012-2022.

ABSTRACT: Personal saving is an important indicator of future economic prosperity. Despite the growth in gross domestic product per capita (GDPPC) from 2012 to 2022 in the Kingdom of Saudi Arabia (KSA), the personal savings rate remains low. Only a few studies have explored savings in KSA, but no study that used time savings deposits (TSD) to measure personal savings exists. Thus, this study aims to investigate the determinants of personal savings employing TSD. Using data from the Saudi Central Bank from 2012 to 2022, this study empirically examines the determinants of TSD. The autoregressive distributed lag cointegration technique determines the long-run relationship between the study's variables. The study finds that GDPPC, deposit interest rates (DIR), consumer loans (CLs), and real estate loans

SUBMITTER: Alsedrah IT 

PROVIDER: S-EPMC10839976 | biostudies-literature | 2024 Feb

REPOSITORIES: biostudies-literature