Factors Affecting Saving Adequacy of Thai Non-Agricultural Workers

Authors

  • Niwaan Ponpunthin Institute for Continuing Education and Human Resources, Thammasat University, Bangkok

Keywords:

savings, saving adequacy, non-agricultural workers, Thai workers, personal finance

Abstract

This research examines savings adequacy of Thai non-agricultural workers using the Panel Socio-Economic Surveys from the National Statistical Office. The savings adequacy threshold is derived from a Krungthai Macro Research report. Theoretical frameworks used in this research are Permanent Income Hypothesis, Life Cycle Hypothesis, and Theory of Mental Accounting. The Panel Regression and Panel Logistic Regression results show that there are seven factors significantly affecting the savings adequacy of Thai non-agricultural workers. These factors are 1) real wage income, 2) real other income, 3) real monthly debt repayment, 4) college education, 5) being a household head, 6) sickness, and 7) living in urban area. The first, second, and fourth factors affect savings adequacy positively, while the remaining factors affect negatively.

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Published

2020-11-27

How to Cite

Ponpunthin, N. (2020). Factors Affecting Saving Adequacy of Thai Non-Agricultural Workers. SOUTHEAST ASIAN JOURNAL OF ECONOMICS, 8(2), 109–127. Retrieved from https://so05.tci-thaijo.org/index.php/saje/article/view/248067