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PurposePersonal financial stress-free living is desired by many, which dwells on sound financial literacy (including financial behaviour, financial knowledge and financial attitude). Many individuals do not make optimal savings and investment decisions. The realisation that these choices may well lead to low living standards has also increased economic anxiety, especially in Sub-Sahara African countries, including Ghana. Thus, this study underscores the link between financial literacy and financial distress in Ghana. It establishes whether persons that are financially literate escape financial distress in their life.Design/methodology/approachThe paper engages nationally representative survey data and adopts a positivist research approach with logistic regression analysis to establish the likelihood of financial literate persons experiencing financial distress.FindingsThis study establishes that financially literate individuals are 2.4% less likely to experience financial distress. Socioeconomic characteristics greatly influence the probability of one experiencing financial hardship. It submits that policy can be directed towards improving financial habits (financial literacy) to enhance individuals' financial behaviour to lessen personal financial distress.Originality/valueNot much attention has been paid to whether financial literacy has a nexus with financial distress. Few studies (not on Sub-Saharan Africa) that have looked at this are done, neglecting a sensitivity analysis of socioeconomic characteristics in establishing the relations. However, this current study dwells on econometric analysis to establish the margin or extend to which a financially literate person may or may not escape financial distress given his/her socioeconomic characteristics.

This paper examines the general travel patterns of Ghanaians and, based on these, explores the implications for domestic tourism. Employing discrete choice models, data from the Ghana Statistical Service (specifically, the fifth round of the Ghana Living Standard Survey) are used for the analysis. In addition to providing a quantitative analysis of the determinants of travel propensity, which had not previously been examined for Ghana, the authors test two hypotheses. First, they assert a three-way (positive–negative–positive) relationship between age and travel propensity. Second, they argue that the mother's education is more likely to influence the decision to travel than the father's education. The travel patterns of Ghanaians were found to bear the inherent hallmarks of domestic tourism. The authors also observe that, although the degree of travel is low, the frequency of repeat visits is high. Social imperatives dominated the motives for travel, while key socio-demographic variables (especially the respondent's age) were found to influence travel propensities significantly.

Abstract:In most developing coastal countries, the artisanal fisheries sector is managed as a common pool resource. As a result, such fisheries are overcapitalized and overfished. In Ghana, in addition to anthropogenic factors, there is evidence of rising coastal temperature and its variance, which could impact the environmental carrying capacity of the fish stock. This study investigates the effect of climate variation on biophysical parameters and yields. Our results indicate that the rising temperature is decreasing the carrying capacity. As a result, an optimum tax on harvest must reflect climate variability, as well as the congestion externality.