Download or read book Private Saving in Ghana written by Samuel Erasmus Alnaa and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding private saving behavior of the citizenry is crucial for informed policy decisions in an economy. The reason is not far-fetched; economies gain sustained growth from investment through a positive saving culture. However, much of the available literature is on aggregate savings rather than on private saving behavior. This study looks at the combined effects of financial development, interest rates and inflation rates on private saving behavior among Ghanaians. Data for the study were obtained from the World Bank Development Indicators between 1980 and 2019. Johansen's cointegration test was employed, and attempts were made to ascertain the existence of a long-runrelationship among variables using the vector autoregressive (VAR) model. The study confirms a significant positive relationship between private saving behavior and financial sector development. This partly explains the relevance of deepening the financial sector through reductions in costs of performing transactions and initiating contracts to encourage private saving through improved propensity to save by the old and to attract new entrants. A reliance on macroeconomic variables to forecast the behavior of private saving enjoins policy decision makers to consider the implications of their decisions for private saving. Among the recommendations are, lower borrowing costs across the economy, resulting in increased investment and consumption spending, and henceeconomic recovery in times of stagnation.
Download or read book Interest Rates and the Mobilization of Private Savings in Ghana written by Stanley Please and published by . This book was released on 1971 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Domestic Savings in Sub Saharan Africa written by Charles Ackah and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: One essential condition of economic progress in any society is an ample supply of savings, which depends on the growth of real capital. Economists agree that higher investment rates will lead to higher growth. Thus, domestic savings is considered an important determinant of growth in developing countries. However, Ghana has one of the poorest savings performances in the world. There are many reasons for the low savings rates in Ghana. In view of Ghana's aspiration to wean herself 'Beyond Aid', this study aims to provide an understanding of the longrun relationship between variables considered to be important determinant savings in Ghana. We employ time series analyses using data from 1980-2020 to capture the effects of the major policy changes in the financial sector of the history of the country, which are also likely to have implications for private savings. While the empirical analyses provide no compelling evidence of a long-run relationship between private savings and the variables considered, estimates from the short-run analysis suggest that per capita income and money supply have a significant positive relationship with domestic savings. This finding is particularly instructive because it suggests that policy makers must think critically about the kinds of policies and reforms required to boost domestic resource mobilization in the long term.
Download or read book Determinants of Personal Savings in Ghana written by Emmanuel Aidoo and published by . This book was released on 2013 with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt: The critical role personal savings play in the development of any economy can not be underestimated. Unfortunately personal savings which forms the fundamentals of national savings has been particularly low in Ghana. The objective of the study was therefore to investigate the factors that determine personal savings in Ghana. Cross sectional data from 250 individual household members in the Cape Coast Metropolis in the Central Region of Ghana were collected and analysed using econometric techniques. The estimation technique used in the analysis is the instrumental variable (IV) method.The result of the study showed a significant positive relationship between personal savings and disposable income; personal savings and financial literacy; and personal savings and marital status. A statistically significant negative relationship was also found between savings and personal assets; personal savings and loan commitments. It was concluded that indeed the level of personal savings is low and attributable to low income levels, low financial literacy and high levels of indebtedness. It was recommended that banks must continue to screen, improve screening and offer technical advice to loan applicants to help reduce high indebtedness. The government financial institutions must put in place financial literacy programmes for Ghanaians. It is further recommended that the Central Bank must ensure that banks and loan companies reduce high borrowing rates to reduce individual interest expenses.
Download or read book Ghana written by International Monetary Fund and published by International Monetary Fund. This book was released on 1995-08-17 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines some factors that may have accounted for the investment and growth performance of Ghana during the past two decades, with special emphasis on the economic recovery program (ERP) period. The paper highlights that Ghana’s growth performance responded well to the liberalization of the exchange and trade regime and the elimination of price controls. Sustained implementation of stabilization policies without reversals was also strongly supportive of growth. However, inflation remained relatively high—at about 25–30 percent—and unpredictable, dampening the incentives for the private sector to save and invest.
Download or read book The Economy of Ghana written by Ernest Aryeetey and published by . This book was released on 2008 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Ghana enters its second half-century, there is a perception of the failure of the economic and political system. This book analyses the reasons for this failure and sets out an agenda as the basis of the course that the nations' policy makers have to steer if Ghana is to fulfil the promise of its independence in 1957.
Download or read book Financial Sector Reforms and Bank Performance in Ghana written by T. O. Antwi-Asare and published by . This book was released on 2000 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Reforms in Ghana written by Ernest Aryeetey and published by Africa World Press. This book was released on 2000 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviews the performance of the Ghanaian economy for the period 1983 to 1991, aimed at assessing the impact of structural adjustment policies in different areas of the economy.
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Download or read book Globalization Trade and Poverty in Ghana written by Charles Ackah and published by IDRC. This book was released on 2012 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Citing a paucity of empirical evidence on the poverty and distributional impacts of trade policy reform in Ghana as the main motivation for this volume, the editors (both of the Institute of Statistical, Social and Economic Research at the U. of Ghana) present eleven papers that combine theory and econometric analysis in an effort to assess linkages between globalization, trade, and poverty (including gendered aspects). Specific topics examined include manufacturing employment and wage effects of trade liberalization; the influence of education on trade liberalization impacts on household welfare; trade liberalization and manufacturing firm productivity; the impact of elimination of trade taxes on poverty and income distribution; food prices, tax reforms, and consumer welfare under trade liberalization; impacts on tariff revenues; and impacts on cash cropping, gender, and household welfare; Distributed in the US by Stylus. Annotation ©2012 Book News, Inc., Portland, OR (booknews.com).
Download or read book Financial Development Institutions Growth and Poverty Reduction written by Basudeb Guha-Khasnobis and published by Palgrave Macmillan. This book was released on 2008-01-01 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores country case studies and works that detail the exact transmission mechanisms through which financial development can enhance pro-poor development in order to derive best practices in this field. This is an important companion for professionals and policymakers, and also a vital reference source for students.
Download or read book Strategic public spending Scenarios and lessons for Ghana written by Aragie, Emerta and published by Intl Food Policy Res Inst. This book was released on with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growth in Ghana during the last decade has not translated into meaningful benefits for rural households who experienced an increase in poverty in recent years. This reflects, among other factors, the relatively weak performance of the agricultural sector and its general lack of competitiveness. The government has identified agriculture as the backbone of its development strategy and is committed to address the numerous challenges faced by the sector. However, it is likely to encounter fiscal constraints in a postdevelopment assistance era. It is therefore crucial to understand the trade-offs associated with alternative spending strategies. In this study we develop an economywide modeling framework for analyzing returns to public spending in support of agriculture. The model is used to evaluate the effect of compositional shifts in spending given marginal returns to different areas of investment. Our analysis focuses especially on extension services and input subsidies as two important components of the government’s agricultural development strategy. The objective of the study is to advise policymakers on which spending strategy is the most likely to contribute to government’s development goals, such as poverty reduction or economic growth. We find that a doubling of the share of agriculture in total public budget would accelerate agricultural growth to somewhere between 7.6% and 8.6% against the business-as-usual scenario of about 3.5%. The level of growth achieved depends on the types of policies that are favored. In the examples presented here, we show that an input subsidy-oriented spending strategy may yield significant benefits in the short run (1–5 years), and especially in an expansionary fiscal environment, but investments in effective extensive services are more sustainable and rewarding in the medium- to longer-run (6–10 years), especially when public resources are more constrained. These results demonstrate why short-term political goals might result in policy choices that are suboptimal from a longer-term development perspective.
Download or read book Saving for Development written by Inter-American Development Bank and published by Springer. This book was released on 2016-07-08 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why should people - and economies - save? This book on the savings problem in Latin America and the Caribbean suggests that, while saving to survive the bad times is important, saving to thrive in the good times is what really counts. People must save to invest in health and education, live productive and fulfilling lives, and make the most of their retirement years. Firms must save to grow their enterprises, employ more workers in better jobs, and produce quality goods. Governments must save to build the infrastructure required by a productive economy, provide quality services to their citizens, and assure their senior citizens a dignified, worry-free retirement. In short, countries must save not for the proverbial rainy day, but for a sunny day - a time when everyone can bask in the benefits of growth, prosperity, and well-being. This book is open access under a CC BY-NC-ND 3.0 IGO license.
Download or read book Financial Development and Economic Growth written by Niels Hermes and published by Routledge. This book was released on 2013-04-15 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection brings together a collection of theoretical and empirical findings on aspects of financial development and economic growth in developing countries. The book is divided into two parts: the first identifies and analyses the major theoretical issues using examples from developing countries to illustrate how these work in practice; the second part looks at the implications for financial policy in developing countries.
Download or read book Health Financing in Ghana written by George Schieber and published by World Bank Publications. This book was released on 2012-08-30 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume analyzes Ghana s National Health Insurance Scheme and highlights the range of policy options needed to assure its financially sustainable transition to universal coverage.
Download or read book Adjustment for Growth written by Mr.Michael T. Hadjimichael and published by International Monetary Fund. This book was released on 1996-10-15 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, sub-Saharan Africa has lagged behind other regions in economic performance. The important overall indicators of performance, however, mask wide differences among countries. On the whole, countries that effectively implemented comprehensive adjustment and reform programs showed better results. Their experiences demonstrate that an expansion in private saving and investment is key to achieving gains in real per capita GDP. The four papers included in this publication provide a cross country analysis that assesses empirically the role of publlic policies in stimulating private saving and investment in the region in 1986-92 and describe the adjustment experiences of Ghana (1983-91), Senegal (1978-1993), and Uganda (1987-94).
Download or read book Monetary and Financial Policies in Developing Countries written by Anis Chowdhury and published by Routledge. This book was released on 2003-05-20 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The issue of economic development and monetary stability has produced one of the most passionate debates in economic literature. Yet, much of the evidence employed in this debate is contradictory. Monetary and Financial Policies in Developing Countries: Growth and Stabilization brings together diverse views on the subject within a coherent framework. The work includes: * a balanced assessment of empirical findings and their theoretical foundations on the role of money and growth * a discussion of financial liberalization reform in developing countries * an analysis of monetary policy as an instrument of economic stabilization * an examination of the monetary supply and demand process in developing countries * a study of the relationship between money, credit, the balance of payments, inflation and the exchange rate system * a reflection on market failures and the role of government.
