Artikel
Financial sector reforms and economic growth in Ghana: A dynamic ARDL model
This paper examines the relationship between financial sector reforms and sustainable economic growth in Ghana. Employing the autoregressive distributed lag (ARDL) bounds testing approach and using GDP per capita as a growth indicator, this paper establishes a long-run relationship between economic growth and financial reforms, which is represented by an index calculated using principal component analysis (PCA). The paper finds that in the long run, financial sector reforms have an insignificant impact on economic growth in Ghana. This supports numerous past studies that have reported mixed or inconclusive results on the effects of financial reforms on economic growth. The paper concludes that increase in capital stock, not financial sector policy reforms, affects economic growth in Ghana. This paper therefore recommends an increase and modernization of capital stock in order to promote real sector growth in Ghana.
- Sprache
-
Englisch
- Erschienen in
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Journal: Contemporary Economics ; ISSN: 2084-0845 ; Volume: 9 ; Year: 2015 ; Issue: 2 ; Pages: 181-192 ; Warsaw: Vizja Press & IT
- Klassifikation
-
Wirtschaft
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Asset Pricing; Trading Volume; Bond Interest Rates
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- Thema
-
Africa
Ghana
Economic Growth
Financial Sector Reforms
ARDL Bounds Testing Approach
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Owusu, Erasmus L.
Odhiambo, Nicholas M.
- Ereignis
-
Veröffentlichung
- (wer)
-
Vizja Press & IT
- (wo)
-
Warsaw
- (wann)
-
2015
- DOI
-
doi:10.5709/ce.1897-9254.166
- Handle
- Letzte Aktualisierung
- 10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Owusu, Erasmus L.
- Odhiambo, Nicholas M.
- Vizja Press & IT
Entstanden
- 2015
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