Factors Affecting the Savings of Residents in the Southern Part of Thailand

Abstract

In this study, the researcher investigat ed factors affecting the savings of residents in the southern part of the Kingdom of Thailand Includeing 14 provinces of Krabi, Chumphon, Trang, Nakhon Si Thammarat, Narathiwat, Pattani, Phangnga, phatthalung, Phuket, Yala, Ranong, Songkhla, Satun, Surat Thani. The relevant secondary data collected from the period between 1995 and 2009 and analyzed by applying the ordinary least squares (OLS) method.

The results showed that the value of products from the southern part of Thailand was found to be directly correlated with the amount of deposits of residents in the south. This finding was in consonance with the relevant hypothesis postulated for this investigation at the statistically significant reliability level of 99 percent. The average deposit rate at commercial banks was inversely correlated with the amount of deposits of the residents under study. This finding was incongruent with the relevant hypothesis posited for this inquiry since the residents under study deposit their money with banks without taking into consideration the return. However, they concerned with safeguarding life and limb and possessions. The major source of income for most of the residents in the south was agricultural in nature. For the most part, therefore, they reinvest their income qua agriculturalists by virtue of purchasing new land, rubber tree seedlings and oil palm tree seedlings.