Harnessing the power of integration to achieve universal electricity access: the case for the Integrated Distribution Framework

Pérez-Arriaga, Ignacio J.; Nagpal, Divyam; Jacquot, Grégoire; Stoner, Robert

doi:10.4337/9781788979955.00027

Cited by 1 publication

(1 citation statement)

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“…The use of digital payments in Ghana is facilitated by a robust internet access, levels of financial inclusion, extensive networks of mobile money agents, well-established payments infrastructure, and on-going regulatory enhancements led by the Bank of Ghana (Pérez-Arriaga and Nagpal, 2021). The Bank of Ghana (BoG), which serves as the central bank, assumes a pivotal role in the regulation of the money market with the objectives of preserving stability, managing inflation, and facilitating the efficient operation of the financial system.…”

Section: Introductionmentioning

confidence: 99%

Mobile Money Use, Digital Banking Services and Velocity of Money in Ghana

Ocansey,

Dadzie,

Nambie

2024

IJEFI

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Investigating the correlation between digital financial services, mobile money usage, and money velocity in Ghana, the study analysed time series data spanning from 1992 to 2022. A composite index was constructed by principal component analysis using data extracted from the world development indicators, with the components mobile money usage, digital financial services, and velocity of money. The estimation utilised an impulse response function and vector error correction model; the results indicated that mobile money, digital financial services, and money velocity are related in both the short and long term. Furthermore, the application of a standard deviation innovation to the velocity of money produced increases of both positive and negative magnitude for all the variables. This suggests that mobile money, digital banking services, and velocity of money in Ghana are interdependent in an asymmetric manner. In order to facilitate an increase in the velocity of money, the research concluded that policymakers should guarantee that a greater proportion of the population has access to mobile money and digital banking services. In addition to promoting mobile money, online banking services, and digital payment methods on purpose, the government should reduce reliance on physical currency and expedite the circulation of money. It is recommended that future longitudinal studies involving African nations employ diverse estimation techniques.

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Section: Introductionmentioning

confidence: 99%