ABSTRACT The purpose of this research is to identify the determinants of AML compliance among member countries of FATF. This study measured the AML/CFT compliance levels of 165 member states of FATF from the year 2004 to 2016 by composing an AML.CFT Compliance Index. The Ordinary Least Squares technique of estimation was used to run multiple regressions of the data. The OLS technique was employed due to the low frequency, and quality of Money Laundering data. The results of the study suggest...
ABSTRACT Two central roles performed by banks, according to the modern theory of financial intermediation, are liquidity creation and risk transformation, making the banking sector a highly regulated one. The Ghanaian banking sector over the past two decades has been undergoing major reforms. One of such reforms is the issue of bank recapitalisation. It is against this background that the study sought to investigate the relationship that exists between bank regulatory capital and liquidity c...
ABSTRACT The purpose of the study is to investigate the relationship between branch banking and stability using efficiency as a conduit in the Ghanaian banking sector. Two measures of bank stability (the z-score and non-performing loans ratio proxies) were used. This is to ensure that the analysis of the relationship was from two complementary dimensions i.e. instability resulting from the risk of insolvency and non-performing loans. The fixed effect model was used to assess the impact of b...
ABSTRACT The purpose of this study was to investigate the extent of stock return synchronicity on the Ghana Stock Exchange. The study compared synchronicity levels across firm size, age and industry type. Finally, the study examined the influence of corporate governance on transparency while using stock return synchronicity as a measure of transparency. A ten year panel data spanning from 2000 to 2009 collected from 31 listed firms in Ghana was used. Daily stock returns were also collected ...
ABSTRACT The study examined the relationship of ODAs in the economic development of Ghana. It subsequently analyzed the association between ODAs interventions and development of education and health in the country by looking at the growth in educational enrollment as well as the increase in Life Expectancy. Based on these aims and objectives of the study, secondary data in the form of time-series data were acquired from OECD, the World Bank and UNDP were acquired for the study. The data acq...
ABSTRACT Remittances to developing countries have become not only the second largest type of flows after foreign direct investments but have also become more than official aids received. This paper uses data on remittance flows to 50 developing countries in Africa from the period 1990 to 2011 in studying the link between remittances and financial sector developments, the extent to which remittances may promote financial developments and the causality traceable between remittances and financia...
ABSTRACT The study provides a total factor productivity index for the banking industry. The study decomposes the components of overall productivity to determine drivers of productivity. Also, it seeks to examine the bank operational effectiveness by comparing any possible differences between efficiency and productivity scores among state, private and foreign banks. Finally, the study investigates the impact of ownership structure and corporate governance on bank productivity and also examines...
ABSTRACT Conventionally, an increase in international tourism receipts coupled with an upsurge in foreign tourist arrivals, into regions with many untapped investment opportunities, is naturally expected to trigger an influx of foreign direct investments (FDI) into such regions. Also, the resulting increase in FDI flows is believed to boost developments across many “green” and viable sectors, including tourism, within the host country upon equitable allocations of such foreign capital. T...
ABSTRACT Economic growth is an important indicator of a society‟s wellbeing and its ability to sustain it over a period. It enables a rise in living standards and a greater consumption of goods and services. It is underpinned by a rise in real gross domestic product (GDP). Energy is a key component of the modern society and is used heavily in the production of output. Ghana has seen mixed results in its yearly economic growth since independence. It has also suffered various challenges in e...
ABSTRACT This study investigates how the investment returns of Social Security and Insurance Trust (SSNIT) of Ghana has performed over the years compared with the financial market and designs a method for the optimal asset mix strategy for the scheme under different risk preferences using stochastic linear programming approach. A time series of annual data on returns on equity and treasury bills from the year 2001 to 2013 were used to investigate the performance of the SSNIT investment compa...
ABSTRACT This study set out to investigate the effect of funding sources on the lending patterns of banks in Ghana. Using a large and representative sample of 22 banks operating in Ghana from 2005 to 2011, the study investigates the funding sources, the lending patterns of banks in Ghana as well as the effect of funding sources on lending patterns.The study made use of a panel data methodology using a panel corrected errors estimation technique. The findings of the study indicate that depos...
ABSTRACT The purpose of this study was to determine the relationship between liquidity and credit risks, and bank spread. It also sought to determine the cyclicality of the effects of liquidity and credit risks. Financial institutions play an important role in the Ghana’s economy. Among other things, the intermediary role they play between entities with surplus funds and those who have a deficit. They do this by accepting surplus funds through savings and other deposits which they then give...
ABSTRACT Financial inclusion is believed to favour mainly low-income groups such as the poor. Despite the proposition in theoretical literature that financial inclusion can bring a lot of welfare benefits to the poor, empirical investigation to that effect is rather scant (little). Using 35 countries and almost 35,000 individuals, this study explored determinants as well as the effect of financial inclusion on poverty reduction in Sub-Saharan Africa. We employed Treatment Effects version of t...
ABSTRACT There is ongoing conversation among researchers and practitioners on the role working capital variables play in determining the profitability of firms. The findings of previous research works have proven to be far from conclusive, having shown that the role of working capital management can, at best, be context specific. This means that there is the need to examine the relationship between working capital management and profitability in different contexts. While extant literature has...
ABSTRACT The objective of the study was to analyse the role of financial institutions development in the link between FDI and industrialisation in SSA. Employing the static model (Fixed Effect Model) and the dynamic model (Generalised Method of Moments), the study utilises a panel model of 45 countries in SSA spanning the period 1990 to 2009. The findings of the study reveal that previous year output of the manufacturing industry is very essential to the industrialisation process in SSA. Addi...