Gender Differences in Saving Behavior and its Determinants: Patron from Pakistan

Abstract

Pakistan is developing country and the areas selected from Punjab province are in initial stages of development. Saving behaviors of these areas are significantly different from other areas. Saving behaviors among genders of developing economy of Pakistan are different from developed economies. The fundamental aim of conducting this research is evaluating gender dissimilarities in saving behavior and determinants of saving behavior among males and females of Punjab, Pakistan. Sample size of this study includes males and females. Total 400 questionnaires were selected for study which includes 124 responses of females and 276 for males. Non-parametric test of chi-square for gender dissimilarities in their saving behaviors and linear regression for the determinants of saving behavior applied in study. Findings of study show that males and females have significantly different saving behaviors. Females save mostly and more for short term needs as compare males while males also save for medium and long term needs. Both males and females have significantly different impacts of determinants of saving on saving behavior except from education, work status, own home, risk tolerance level and medical expenses. The originality of this study is that it is first research work in Punjab, Pakistan on this topic especially in these four cities selected for analysis.