Abstract: This chapter introduces the concept of financial globalization and examines the factors driving financial globalization in emerging and developing market economies. The role of financial globalization in driving the development and strengthening of the financial sector, sustainable economic growth, and the nature of innovations are explored. On a broader scale, there is a need to understand the developments in global financial innovation and their implications for developing and em...
Abstract: In this study, we focus on finding the possible optimal strategy where there is consump tion, stochastic income, purchasing of life insurance and investment in risky and risk-less investments are made. The stock follows a jump diffusion process and the bond is linked to inflation making the two risky and we have the investment position taken also on the money market account. The wealth process is determined by the different generations of the life of an investor, that is before the...
Rigorous financial investment is the need of the hour. For the Indian economy to grow at the desired rapid pace, more capital formation and hence rigorous capital mobilization by the investors is required. Like institutional investors, retails investors too need to have an organised portfolio in modern investments instead on relying on traditional methods of investment. Many a times these traditional investment overlap with what is also called as unorganised investments. In this paper we ...
The goal of this research was to investigate empirically how government expenditure contributes to economic growth in East Africa. Most existing studies examining the relationship between expenditure and economic growth show conflicting results and mainly focus on aggregate expenditure. Hence this study focused on disaggregated expenditure over the period from 1980 to 2010. The objective ofthe study was to establish these expenditures that have effects on growth using balanced panel fixed eff...
Abstract Due to the disruptions in global market the financial markets of India also reacted and experienced uncertainties which started in March 2020. This had a significant impact on the first quarter of the Financial Year 2020-21. It was predicted that India would perform severely in April-June and July-September quarter as result of decrease in manufacturing and service sector activities. However, what followed was entirely ironical as Indian & global stock markets witnessed a rise. This...
This study explores how Islamic Finance Modes can provide alternative sources of financing business models in a circular economy. A comparative analysis of the Islamic Finance Modes such as Musharakah, (Equity Sharing), (Mudarabah), (Silent partnership), Forward sale (Salam), Manufacturing Financing (Istisna), Leasing (Ijarah), Sukuk (Investment Certificate), Qard Hassan (Beneficence Loans), Wakalah, (Agency contract) Kafalah (Suretyship Contract), and Ju’ala (Service Agency) were undertake...
This study examines the effect of tax administration and revenue on economic growth of Nigeria. To achieve the objective of this paper, data was collected from primary and secondary sources. The secondary sources were from scholarly books and journals while the primary source involved a well structured questionnaire of three sections of sixty five items with an average reliability of 0.78. The data collected from the questionnaire and secondary data were analyzed using relevant regression ana...
ABSTRACT Minimum capital requirement is significant in improving banks’ performance and minimizing the lending behaviour, thus it is vitally important to regulate financial institutions such as bank in order for them not take on excess leverage and become insolvent. The objective of this study is to assess the effect of minimum capital requirement on profitability and lending behavior of banks in Ghana. The study employs pooled panel data analysis with quantitative research approach, as wel...
ABSTRACT Taxation is not only a major economic policy tool but also a means to encourage positive social behaviour and discourage negative social behaviour. Unfortunately, in Ghana, taxation is almost reduced to a tool for winning political power. Majority of the time, political discourse and economic policy discourse on taxation is at best anecdotal. The objective of this study is to investigate and provide empirical evidence on the relation between tax structure and growth in Ghana in order...
ABSTRACT This study sought to examine the effect of Internal Audit on Corporate Government at Metropolitan, Municipal, and District Assemblies (MMDAs). Five (5) Municipal and District Assemblies from the Volta Region were selected as a case study. Five (5) respondents which includes the Finance Officer, Budget Officer, Audit Committee member, Administrator and a Director further sample from each of these selected Municipal and District Assemblies. It was found from the study that, Internal Au...
ABSTRACT In the current economic environment, the trend of business activities and an ever-changing business has made it imperative for all forms of entities be it public or private to maintain and ensure internal control systems that are effective and can achieve optimum results for the entity in question. The main objective of the study was to evaluate the effectiveness of internal control systems between private and public hospitals. Descriptive research design was employed for the study, ...
ABSTRACT The conduction of this study involves regressing some specific external and internal factors on the dependent liquidity function which is, liquid assets to the total asset (LIQ) for the 11-year period from 2007-2017 of 8 Ghanaian banks listed on the stock exchange. Two separate analyses, fixed effect, and random effect panel regressions were conducted during the analyses of the study with the Hausman test performed to choose the best among the two. The result showed that bank size is...
ABSTRACT This study investigated the causes of takeovers in Ghana with specific interest in UT and Capital Bank, due to the shock value it created among Ghanaians at the time. The specific goal of this project was to scrutinize the reasons that led to the takeovers of these two Banks and whether the central bank could have prevented the failures of these banks. The study adopted the quantitative approach to research. The study used ratio analysis. The Data was obtained from the financial stat...
The banking industry plays a crucial role in the economic eco-system and its development means fostered growth for the country. For a financial system to be sound, a vibrant banking system needs to be present. Any shake in the banking system can send a ripple effect to the financial system and it can topple down, causing a recession. The collapse of two Ghanaian banks in 2017 and the consolidation of five other banks a year later raised concerns about the crucial role of risk management ...
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...