Factors Affecting Saving Adequacy of Thai Non-Agricultural Workers

  • Niwaan Ponpunthin Institute for Continuing Education and Human Resources, Thammasat University, Bangkok
Keywords: savings, saving adequacy, non-agricultural workers, Thai workers, personal finance


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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