THE RELATIONSHIP BETWEEN HOUSEHOLD SAVINGS IN THAILAND’S AGRICULTURAL SECTOR AND HOUSEHOLD CHARACTERISTICS

Abstract

This study aims to investigate the relationship between household savings in Thailand’s agricultural sector and various household characteristics. The analysis employs agricultural household savings as the dependent variable, while the independent variables include household characteristics, economic status, welfare and benefit receipt, financial record-keeping practices, income from other sources, total household income, and total household expenditure. The study utilizes secondary annual data spanning from 2015 to 2024 a total of ten years and applies the Ordinary Least Squares OLS multiple regression technique. The findings reveal that both total household income and income from other sources exert statistically significant positive effects on household savings. However, household characteristics, economic status, welfare and benefit receipt, and financial record-keeping practices exhibit statistically significant negative associations with household savings in the agricultural sector. Notably, economic hardship and weak financial management are strongly negatively associated with the capacity to save, underscoring the critical role of financial discipline in enhancing household saving behavior.