[雙語(yǔ)翻譯]外文翻譯--利率對(duì)銀行存款的影響來(lái)自尼日利亞銀行業(yè)的實(shí)證分析 （英文）

1、ISSN 2039-2117 (online) ISSN 2039-9340 (print) Mediterranean Journal of Social Sciences MCSER Publishing, Rome-Italy Vol 5 No 16 July 2014 232 The Impact of Interest Rate on Bank Deposit: Evidence from the Nigerian Ba

2、nking Sector Paul Ojeaga PhD Department of Economics , Bergamo University, Bergamo, Italy Omosefe Odejimi PhD Department of Economics, Benin, Nigeria Doi:10.5901/mjss.2014.v5n16p232 Abstract The study investigates th

3、e effect of interest rates on customer savings behavior in the Nigerian banking sector, after identifying a host of factors that are likely to influence customer confidence in commercial banks such as average income, co

4、mmercial lending, legal rights strength, central bank monetary policy and total annual commercial bank losses, using quantile regression estimation method, a non parametric estimation process that is based on the premi

5、se that the sample median will tend to that of the distribution and addresses issues of heteroscedastic errors and data stringency associated with the data used in the study under question. We find that interest rates

6、were probably increasing bank deposits while income was also found to affect bank deposits in general. Keywords: Interest rates, bank deposits, income, bank losses and monetary policy 1. Introduction The dynamics betwe

7、en interest rate and customer savings behavior has not been overly researched. While the topic has generated a lot of discussions, no conclusive agreement has been reached as to the nature of how interest rates is likel

8、y to affect customer savings behavior particularly in the Nigerian context, furthermore even if many studies have investigated the role of interest rate on savings within the growth and financial business cycle context

9、 few have tried to address customers savings concerns as a matter of primary interest using a non parametric estimation technique as we do in this study. A host of factors are likely to affect customer saving behavio

10、r in banks, some include the fixed saving interest rates which is likely to affect customers incentive to save, country specific wage rates which will depict the average allowance available after the individual budget

11、demands, aggregate average annual bank losses which is likely to affect customer perception of how well banks are doing, institutional and regulatory strength which depicts the level of oversight function and internal

12、control effectiveness, average bank lending, and country specific monetary policy as exerted by the country’s apex financial agency such as the Central Bank. Fixed savings account interest rates can also have strong c

13、onsequences on overall average bank deposit and in most cases it is also affected by bank specific lending interest rates since it is customer deposits that are lent to private sector business with the expectations of

14、returns on borrowed capital, making nominal interest rates to have a back-effect on fixed savings interest rates. Nominal interest rates therefore is likely to have an indirect causal effect on customer savings through

15、 fixed savings account interest rates which will probably be true since interest on savings are likely to be paid from returns on borrowed capital obtained from nominal interest on borrowed capital. Low interest rates

16、has been known to drive output production in many developed economies, as it creates enabling environment for private business expansion through the provision of easy access to capital for further production purposes.

17、In December 2013 the United States all share index continued to soar amidst the Fed report to maintain interest rates at an all time low following the withdrawal of the stimulus finally signaling an end to the US financ

18、ial crises. While nominal interest rate depicts the riskiness of the business environment it can also be used as a tool by a country’s federal regulating agency in time of crisis for financial stabilization and quantit

19、ative easing of the economy. The study investigates the impact of interest rates on bank deposits in Nigeria, using quantile regression estimation a non parametric estimation method that is based on the premise that th

20、e sample median will tend to that of the distribution and produces consistent estimates in the presence of heteroscedastic errors and outliers in the response measurement, The rest of the paper is divided into scope an

21、d objectives of study, review of literature, stylized facts on ISSN 2039-2117 (online) ISSN 2039-9340 (print) Mediterranean Journal of Social Sciences MCSER Publishing, Rome-Italy Vol 5 No 16 July 2014 234 rates and d

22、epositors perception will be one in which interest rates will have a positive effect on deposits if the business environment becomes relatively stable. Aggregate income is also on the increase see fig3 this is particula

23、rly noticeable from the early 2000s, legal rights strength which we use as a measure of oversight function is also on the decrease meaning that regulatory agencies effectiveness in checking irregular activities in the

24、Nigerian banking sector is not likely to be yielding sufficient results to boost customer perceptions regarding the integrity of the management of Nigerian banks. The drastic reduction in the oversight functions see fi

25、g.4 also depicts judiary strength in effectively prosecuting bank officials accused of fraud and other miscoduct. The 2010 commercial bank management crises also brings to fore these existing weaknesses since the judic

26、iary has till date not be able to arrive at conclusive verdicts of the indicted bank management staffs concerned, the intervention by government and political officials also remains a constant reminder of the weakness

27、of the judiciary and regulatory agencies in effectively checking banking irregularities in the banking sector. Commercial lending is also at an all time low and has not returned to the pre 1990s levels see fig.5 showing

28、that commercial banks were not lending to the private sector in a significant manner that can drive output production in the real sector. This was probably due to the riskiness of the Nigerian business environment that

29、 was probably driving interest rates up and making borrowers to be averse to borrowing because of the high tendency of likely default fears. The stringency of the borrowing process by banks on borrowers was also an iss

30、ue as this was also probably discouraging private individuals and businesses from lending. Banks were also recording high amount of losses see fig. 6 this can be attributed to mismanagement in banks and high fraud occ

31、urrences particularly management fraud been perpetuated on a large scale in the Nigerian banking sector, once again confirming the assertion that over sight functions were probably at an all time low, or that regulatory