FACTEURS EXPLICATIFS DU CHOIX D’AFFECTATION DE L’EPARGNE DES MENAGES AU MAROC
Creators: name: ELATIFE, El Houssain
name: DAOUDIM, Meryem
Publisher: name: Revue Economie, Gestion et Société
Year: 2022
Subjects: Household savings; Determinants; Explanatory factors; Allocation choices; Moroccan household.

description: Savings, investment and development are three key words in the economic problems of all countries of the world. We always ask the question: "Can we drive and influence growth and development without worrying about what constitutes its soul? These are indeed related phenomena, we cannot indicate the existence of one without mentioning the others. They are sources of advancement and social well-being. Morocco faces the challenge of successfully making the transition to a new development model that should enable it to position itself on a higher but more inclusive and sustainable growth level. This challenge is correlated with the intensification of productive investment and greater savings mobilization. In Morocco, the persistence of a sub-optimal composition of the household savings portfolio could lead to numerous distortions, which could penalize both savers and the financing of the economy by delaying the desired economic and social changes. The review of theoretical and empirical work shows that, despite their abundance, existing studies do not yet provide a definitive answer to the problem of determinants of the allocation's choice of morrocan's house holds savings, the debate is not yet closed. Based on a critical look at the literature, we decided to develop the object of our research by comparing the theoretical and empirical results of the literature with the Moroccan reality. The main question of our research can be summarized as follows: "What are the factors explaining the choice of allocation of Moroccan households' savings? ». In light of our research adheres to the post-positivist current based on an hypotheticodeductive approach, we have chosen a four-steps scientific approach: 1) Elaboration of a review of theoretical and empirical literature that delineates the main theories and empirical studies related to our study; 2) Construction of a set of hypotheses linking the independent variables to the dependent variable and this in accordance with the theoretical and empirical literature review initially identified, and at this level several variables are defined; 3) Collection of empirical data in a qualitative way then in a quantitative way. At this stage, sampling is an essential step. We chose the sample and the mode of administration of the questionnaire with great delicacy, and we conducted the survey among Moroccan households; 4) On the basis of the collected data, we carried out empirical analyses and tests to validate or refute our hypotheses, and by confronting the empirical results obtained with the theoretical and empirical framework of the literature, we confirmed or refuted the literature already elaborated, and even proposed other lines of research. Among the main results, we determined through uni-variate analysis, the characteristics of the surveyed households, the characteristics of the allocation of their savings, and the characteristics of the factors explaining the choice of allocation of Moroccan households' savings. Next, we identified, through the bi-variate analysis, the confirmed and rejected hypotheses regarding our research topic. Finally, we split the eight explanatory factors of the choice of allocation of household savings in Morocco into two main axes, condensing the information contained within this number of variables into a restricted subset of new composite dimensions while ensuring minimal loss of information. In addition, by using logistic regression, we constructed an econometric model answering the following question: "What is the contribution of the eight explanatory factors in predicting the type of allocation of Moroccan household savings? ». We estimate these results capable of conveying informal savings to formal savings by indicating the probability of allocation to each of the two sectors. In addition, by determining the factors that guide the choice of allocation of moroccan households' savings, a banker or financial institution can take this information in light in order to design savings or investment products that meet the true expectations of moroccan households. As a result, domestic savings mobilization in Morocco will increase, while at the same time the country's reliance on external financing will decline. Ultimately, this will lead to a satisfactory level of development and strong and sustainable economic growth.
description: Revue Economie, Gestion et Société, مجلد 1, عدد 33 (2022)