Role of financial openness in Ghana’s financial sector development episode
Eric Justice Eduboah
Abstract:Purpose
This paper aims to reexamine the relationship between financial openness and financial development in Ghana.
Design/methodology/approach
The study applied maximum likelihood estimation and autoregressive distributed lag approach and tested Granger causality using quarterly data from 1990:1 to 2020:4.
Findings
This study revealed a long-run equilibrium relationship between financial openness and development, indicating that financial openness is a critical factor in Ghana’s financial development. Th… Show more
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