ABSTRACT The aim of the study was to assess the three-tier pension schemes in Ghana. Specifically, the study examined the standards of the mandatory tier one and tier two pension schemes in Ghana; evaluated the current voluntary tier-three pension scheme in Ghana, and examined the relationship between the benefits of pensions schemes, and an assessment of the three-tier pension scheme to the Ghanaian worker. A cross-sectional survey research strategy, coupled with a quantitative methodologica...
ABSTRACT This research was aimed at assessing the impact of Sovereign Wealth Funds (SWFs) as a transition finance tool on the development of a country. The research had a study population of the 60 largest SWFs in the world in 2014 and used a sample of 34 SWFs in its analysis. The study used secondary data as the main and only source of data, and collected the needed data from secondary sources like the IMF Working Paper Series, FocusEconomics, and Sovereign Wealth Fund Institute (SWFI) among...
ABSTRACT The study examines how increasing the shares of fees and commissions, trading income and total non-interest income makes African banks more risky, for banks that specialize in either retail or investment banking activities. The study used financial information obtained from the Bankscope database to construct a panel of African banks from 2008 to 2012. The study used the Ordinary Least Square (OLS) regression model with Newey – West standard errors, robust for heteroskedascity and ...
ABSTRACT Growth of microcredit is seen as an important way to expand financial services to the poor and unbanked, and to help reduce poverty. However, high default rate remains a major challenge for micro-lenders. Understanding the causes of default among the poor is important for devising effective strategies to deal with this problem. This study sought to identify the determinants of loan default among urban poor women in the Greater Accra Region of Ghana. The study quantifies the relat...
ABSTRACT The recent worldwide competition for Foreign Direct Investment (FDI) and African’s poor show in FDI attraction is the main motivation of this study. The study primarily investigates the impact of infrastructure development and ease of doing business on FDI in Africa. This study uses 52 African countries for the period 2010-2014. The system Generalised Method of Moments (GMM) estimation technique, a dynamic panel regression technique, is employed for this analysis because of the sm...
ABSTRACT Global flows of Foreign Direct Investment (FDI) have seen a boom in the last two decades. This is evident in the annual United Nations’ Conference on Trade and Development (UNCTAD) investment reports. Notwithstanding this, Africa remains the least recipient of global FDI and its share continues to decline. Africa’s predicament has been explained variously. One reason is that Africa is considered unsafe for foreign investments. Proponents of this conjecture base their arguments on...
ABSTRACT The study aimed at estimating the threshold effects of public debt on economic growth within Africa using the Autoregressive Distributed Lag (ARDL), Distributed Lag (DL), Cross-sectionally augmented ARDL, and the Cross-sectionally augmented CS-DL models. The study also looked at the long-run effects of increasing public debt growth on economic growth. The study employed data from the Historical Public Debt Database (HPDD) and the International Financial Statistics (IFS) of the Intern...
ABSTRACT Securing adequate financing for oil and gas investments is a difficult task in the best of environments. In Africa, the task is more difficult on account of political, commercial and force majeure risks. These factors serve to limit the interest of international commercial banks, the main source of oil and gas finance in making long-term credit available for the region. This thesis examines the risk mitigation arrangements that can relief the fears of the international financial ins...
ABSTRACT Ten years after the launch of the first mobile money solution in Ghana, the service can be said to be a game-changer in the country’s financial services industry. The research aimed at assessing the contribution of mobile money towards the promotion of financial inclusion within the AwutuBreku area. The study was descriptive research and the population made up of the users of mobile money. The study used a simple random sampling technique to sample three hundred and twenty-four (3...
ABSTRACT The study explored Capital Structure and The Financial Performance of Listed Manufacturing Companies on the Ghana Stock Exchange using panel data analysis. The study employed descriptive research design and quantitative approach. The study revealed that short term debt (STDA) has a positive and statistically significant relationship with ROE at 1% significance level. This means that firms with high profitability (ROE) uses more of short-term debt (STDA) as a source of financing. Ther...
ABSTRACT The purpose of this study is to construct a composite optimal risky portfolio across eleven African countries from which optimal portfolio decisions can be made by investors. This is done through a static model. The study further assesses how robust the optimal portfolio is to possible variations in economic conditions of a country through the use of a bootstrap algorithm. This, therefore, makes the optimal choices of this study reliable and robust to non-normality biases. The variou...
ABSTRACT Profitability and maximizing shareholders wealth top the chat when it comes the reasons why people or organisations engage in business. A bank like any other business venture also has these same objectives in mind. The contentious issue however, is finding a right balance between the profit maximization objective and the right amount of liquidity to hold amidst macro-economic variables such as Gross Domestic Growth rate (GDP), inflation, etc. Evidence from prior academic literature i...
ABSTRACT This paper examines the climate change effect on inclusive growth and the possible moderating role of adaptive capacity in climate change/inclusive growth in the long and short-run. The study employs temperature change anomalies (with 1951-1980 as the baseline climatological year) and CO2 emissions (metric ton per capita) as variables for climate change and a set of variables as indicators to measure inclusive growth. These set of indicators are adopted from the Asian Development Ban...
ABSTRACT The study examines the determinants of liquidity risk of Ghanaian banks and how it affects their profitability. Theory on the effects of liquidity risk on bank profitability is mixed; while some studies conclude that high liquidity risk increases bank profitability through high net interest margins, others indicate that it reduces profitability due to the high cost associated with securing funding at such times. With an unbalanced data set of 22 banks over a 10 year period spanning ...
ABSTRACT The objective of this research was to assess the explanatory power of Book-To-Market value of equity ratio (BTM) and firm size on portfolio returns in Ghana. This study also sought to compare the strength of BTM to size in explaining returns. The last objective was to measure the efficiency of Fama and French (1992) Three-Factor Model on the Ghana Stock Exchange (GSE) over the period January 1997 to December 2009 and to compare the Three-Factor Model to the Capital Asset Pricing Mod...