ABSTRACT Ghana’s pursuit of outward-oriented trade liberalization and capital account liberalization polices since the 1980’s has the proclivity of subjecting the economy to external shocks that may affect the size of government. It is therefore imperative that the effects of external interferences within the domestic economy on government’s spending behavior are examined. In this light, this study investigate the short-run and long-run effects of trade and financial openness on governm...
Wells Fargo is in the news, but for the wrong reasons. The company has been fined US$185 million and more than 5,000 employees have been fired for secretly creating more than 2 million customer accounts without the customers knowing it. Indications are that the woes of the bank are only just beginning. The scandal brewing is a result of the “Gr-eight” Initiative, a cross-sell initiative by the bank which takes advantage of customer loyalty to increase the average number of products held b...
Abstract This paper investigates the internationalisation strategies of Ghanaian service companies within the economic community of West African States (ECOWAS) market. The topic was necessitated by the increasing interest in the study of internationalisation processes of local firms in this era of globalisation, which hitherto was the preserve of multinational enterprises from the developed world. There is very little research on internationalisation processes of firms within the developing ...
ABSTRACT Most developing countries face the problem of raising tax revenue to carry out public sector spending. Tax revenue is necessary for economic growth and development. Unfortunately tax revenue generation has been low in Ghana. This study therefore examined the determinants of tax revenue with evidence from Ghana using quarterly data from 1988 to 2008. The tax effort function is used by regressing government expenditure, real gross domestic product and financial deepening on tax reven...
Introduction/Overview This paper is a review of innovation in the ICT entrepreneurship/mobile internet/mobile related applications space. The paper aims to identify best practice in stimulating innovation in developing countries. Definitions of Innovation We use the standard definitions provided by the UNESCO Institute of Statistics (UIS 2011) of both product innovation and process innovation: Product innovation: “the introduction of a good or service that is new or significantly improved w...
ABSTRACT Man is a social as well as psychological being. He strives to interact with others while depending on them and they on him.
ABSTRACT Traditional approaches for understanding environmental governance — such as environmental policy analysis or natural resources management — do not adequately address the gamut of human–natural system interactions within the context of the complex biogeophysical cycles and processes of the planet. This is perhaps more so in the African regional context where the complex relationships between modern and traditional governance systems and global change dynamics are arguably more p...
ABSTRACT This study empirically examines the relationship between stock market performance and economic growth in Ghana using quarterly time series data from 1991 to 2012 for four stock market performance indicators, namely; stock market capitalization ratio, stock market turnover ratio, total value traded ratio and the Ghana Stock Exchange market index with three other control variables. The study employed the Johansen and Juselius (1990) multivariate cointegration technique and vector erro...
ABSTRACT As at 2008, the much awaited oil find in Ghana had been realized, and as a natural phenomenon much attention had been shifted to the industrial sector specifically the mining segment. Till date many are attracted to the industrial sector specifically the mining segment due to its acclaimed high returns and much FDI inflow. The Ghana Statistical Service 2010 report showed that Ghana had increased its income by 60% to over US$44 billion coupled with a growth rate of 14%. However, these...
ABSTRACT The competition to attract greenfield foreign direct investment (FDI) among countries, due to its benefits, has taken the form of a reduction in the corporate tax rate globally over the decade. Aiming to determine the tax effect in attracting new investment into a country, the study focused on three objectives: the trend of corporate income tax and greenfield FDI, the effect of corporate tax rate on greenfield investment and the determinants of greenfield investment. In estimating t...
The relations between state and society under authoritarian rule in Africa has been described as a case of states without citizens (Ayoade 1988). The consolidation of single parties, president-for- life, extensive security establishments, widespread inequalities, and personal rule has involved the denial of the peoples' right to participate in the decision-making process and sometimes the suspension of the constitution which defined those rights. Governance has often been reduced to the pra...
ABSTRACT The Central Bank of Nigeria (CBN) has pursued among other goals, low and stable domestic price level and output growth using various monetary policy instruments. Despite these efforts, output growth rate averaged 1.32% between 1980 and 1989 and 2.87% between 1990 and 1999. Also, the monetary authority’s inflation rate target of 5.00% in 1992 and 31.00% in 1995 escalated to 44.59% and 72.81% respectively. There has been limited attempt to investigate the channels through which mone...
ABSTRACT Nigeria‘s dependence on food and refined oil importations makes households vulnerable to price shocks of these commodities. While there is a growing body of empirical literature on the consequence of international commodity price shocks, there is little attempt to investigate their effects on households. This study, therefore, examined the effects of international price shocks to food and refined oil on household income and consumption in Nigeria. A recursive-dynamic computable ge...
ABSTRACT The study investigated the relationship between foreign direct investment and economic growth in Liberia. The Autoregressive Distributed Lag approach to cointegration was used with annual data from IMF Statistics 2009 CD ROM, WDI. Capital was disaggregated into foreign direct investment and domestic private investment for a more comparative analysis of their impacts on economic growth. Economic growth was measured by real GDP, Foreign Direct investment (FDI) was measured by Net FDI...
ABSTRACT Repeat borrowing is essential for long term financial sustainability of Microfinance Institutions (MFIs). This long term financial sustainability is threatened by high client exit, that is, premature termination of the borrowing relationship. In view of the above, the purpose of this study is to investigate the reasons for clients exit and to determine the factors that influence the length of the MFI-client borrowing relationship. A duration model (semiparametric model) is used to em...