The Development of a Scale Measuring Consumers' Selection of Retail Banks in Ghana

The current research attempts to investigate the use of the two sources of dealers' soft channel power (i.e., expert power and referent power) as a means of achieving three desirable channel relationship outcomes in Zimbabwe's channel of distribution system. The field study is conducted in Harare and Chitungwiza, and research data are collected from 447 small and medium-size enterprise (SME) manufacturers. Dealers' expert power and referent power are found to be important sources of channel power that positively influence SME manufacturers' trust, relationship commitment, and relationship satisfaction. It is concluded that managers in dealers' firms can improve their channel relationships with SME manfacturers if they acquire or enhance their expert power and referent power.     

Dollarization,Inflation Targeting,and Inflationary Dynamics in Ghana

ABSTRACT

The impact of dollarization on domestic economic performance, and the welfare implications of high inflation in an inflation targeting environment, have remained a matter of much concern for policymakers in recent years. This study investigates the effects of dollarization on inflation and inflation uncertainty in Ghana for the period January 1990 to December 2017. We apply the exponential Generalized Autoregressive Conditional Heteroskedasticity model together with impulse response and Granger causality tests to explore how dollarization affects the behavior of inflation for the pre-inflation targeting period (January 1990 – May 2007) and post-inflation targeting period (June 2007 – December 2017). The results indicate that dollarization has not played a significant role in the volatility of inflation in Ghana. Also, inflation Granger causes dollarization in both the pre- and post-inflation targeting regimes. Finally, there is a bidirectional causal relationship between inflation and inflation uncertainty following the adoption of inflation targeting monetary policy. We conclude that, although inflation targeting has not presented a significant impact on inflation volatility, it has affected the relationship between inflation and inflation uncertainty in Ghana. The dynamics of inflation volatility and asymmetries present crucial implications which are discussed to guide policymaking.     

Interdependence of Major Exchange Rates in Ghana: A Wavelet Coherence Analysis

ABSTRACT

We have employed the three-dimensional continuous Morlet wavelet transform methodology to explore the co-movement amongst the returns of four major currencies in Ghana (dollar, euro, pound, and yen) for the period May 1999 to February 2018. The analysis reveals that the dynamics of the interdependence of the currencies is time-varying and heterogeneous. Our empirical findings demonstrate that the currencies are closely linked or interconnected. The lead–lag relationships between the returns of the exchange rates established that volatilities in the euro and yen significantly affect movements in the other currencies in daily and weekly exchange rate returns. The presence of lead–lag effects and stronger co-movements at short-run fluctuations may induce arbitrage and diversification opportunities to investors, albeit with limited space. The differences in the co-movements of returns and the evidence of contagion among the foreign exchange markets provide reliable incentive to the monetary authorities for unflinching strides to halt the speeding exchange rates.     

EXPLAINING THE MARKET POWER OF GHANAIAN BANKS1

A competitive banking system helps lower transaction costs and risks. It also helps make financial markets more efficient. In Ghana however, observers believe that the banking industry is not competitive and point to the huge spread between bank lending and borrowing rates as evidence. The Ghanaian banking industry is analysed for evidence of market power by computing the Lerner Index of banks using quarterly data from 2001 to 2006. The evidence is that Ghanaian banks possess market power. Factors that significantly explain the market power of Ghanaian banks are: bank size, efficiency of banks with respect to staff costs, the macroeconomic environment and time.     

Links between economic liberalization and rural resource degradation in the developing regions

This paper examines evidence of the effects of economic liberalization and globalization on rural resource degradation in developing countries. The principal resource effects of concern are processes of land use change leading to forestland conversion, degradation and deforestation. The main trends in globalization of interest are trade liberalization and economy-wide reforms in developing countries that have 'opened up' the agroindustrial sectors, thus increasing their export-orientation. Such reforms have clearly spurred agroindustrialization, rural development and economic growth, but there is also concern that there may be direct and indirect impacts on rural resource degradation. The direct impacts may occur as increased agricultural activity leads to conversion of forests and increased land degradation from 'unsustainable' production methods. However, there may also be indirect effects if agroindustrial development displaces landless, near-landless and rural poor generally, who then migrate to marginal agricultural lands and forest frontier regions. This paper explores these direct and indirect effects of globalization and agroindustrialization on rural resource degradation both generally, plus through examining case study evidence. The paper focuses in particular on the examples of structural adjustment, trade liberalization and agricultural development in Ghana, and maize sector liberalization in Mexico under North American Free Trade Agreement (NAFTA).     

Changes in family food habits: the role of migration

The food habits of people generally dictate their nutritional well‐being, which subsequently affects their physical and mental health. A change in environment is one of the major factors that could bring about positive or negative changes in food consumption patterns. The food habits of 50 migrant families living in a suburb of Accra were studied to find out what changes have taken place as a result of a change in living environment. The homemaker in each family was interviewed to obtain information on socioeconomic characteristics, past and present food procurement and consumption patterns, food avoidances and factors that influence food selection and consumption. The findings revealed that, although the majority stuck to foods they were accustomed to, there were striking changes in sources of food procurement, the number of meals prepared at home and the relative frequency of consumption of some staple foods. One‐third of the study group felt that their diets had become poorer as a result of the change in environment. Two factors, time and money, were associated with the changes that had taken place. The study provides some evidence for the existence of inadequate diets among migrant families. This might even reflect a more serious situation facing the numerous migrant youth, who have no families to cater for them and, hence, put their health at risk. Home economists and other related professionals could be instrumental in drawing up intervention programmes to ensure adequate selection and consumption of food to promote good health among migrants to the city.     

Migration and food consumption patterns in Ghana

This paper examines the link between migration and food consumption patterns in Ghana, which has a history of widespread migration and high levels of poverty. Data from 4130 households from the nationally representative 2005/2006 Ghana Living Standards Survey are used for the analysis. Since migrants self-select into migration, an instrumental variable approach is taken to analyze the relationship between migration and total food expenditures per capita, food expenditures across a range of food categories and shares of food expenditures across these categories. Overall, the results indicate that migration does not substantially affect total food expenditures per capita, and has minimal noticeable effect on food expenditure patterns. Looking at results in different settings, the analysis indicates that only in high migration regions does migration appear to increase overall food expenditures resulting in a shift towards the consumption of potentially less nutritious categories of food, such as sugar and beverages and eating out of the home. The results raise questions about the value of migration for improving the food consumption of migrant sending households.     

Governing the Organic Cocoa Network from Ghana: Towards Hybrid Governance Arrangements?

In this paper, we examine the processes of initiation, construction and transformation of the organic cocoa network from Ghana. We address in particular how the state responded to and engaged with civil‐society actors in the organic cocoa network and to what extent state involvement reshaped state–business–civil society relations? While most of the literature argues that globalization and liberalization processes weakened the state's position as key player in the development and management of agro‐food networks, the case of the (organic) cocoa sector in Ghana is often depicted as an exception because of the strong position the state still occupies in it. Employing a global commodity network perspective to analyse the Ghanaian organic cocoa case, this paper demonstrates that although the state is still a major player in the contemporary (organic) cocoa network, some hybrid governance arrangements, involving state, transnational and national NGO networks, and businesses, are emerging. The organic cocoa network also prompted a double process of ‘dis‐ and re‐embedding’ at the local level that helped shape and strengthen the organic cocoa network.     

Reducing waste management challenges: Empirical assessment of waste sorting intention among corporate employees in Ghana

Waste sorting is seen as an effective and efficient step in annihilating the challenges of solid waste generation, promoting a circular economy, public health, and environmental sustainability. For total public acceptance and participation, it is crucial to understand what motivates and compels consumers to separate waste. Consequently, this study investigates corporate employees’ intention to sort waste in Ghana. The study augmented the theory of reasoned action with convenience, environmental consciousness, hedonic motivations, and awareness of benefits. 401 valid survey responses were statistically assessed using structural equation modeling. Results showed that the conceptual framework accounted for 65.4% of the variance. Attitude, subjective norm, environmental consciousness, awareness of benefits, convenience, and hedonic motivations were positive and significant toward waste sorting intention. Awareness of benefits influenced attitude but not convenience. Also, subjective norms positively and significantly influenced environmental consciousness and hedonic motivation. An ANOVA analysis confirmed the effect of gender, age and education on the inclination to sort waste. Hospitality and Educational sector employees had a higher inclination and intention to sort waste. The study advances literature and understanding on waste sorting among corporate employees and suggests practical solutions for ensuring total embrace and participation in sorting waste.     

For the Environment: An Assessment of Recent Military Intervention in Informal Gold Mining Communities in Ghana

This article reflects critically on the impacts of the recent ban on artisanal and small-scale mining (ASM) – low-tech, labour-intensive mineral extraction and processing – in Ghana. Government officials claimed that a ban was necessary because the country’s ASM activities, most of which are found in the informal economy, pose a serious threat to local waterbodies and that security forces were needed for its enforcement. It is argued here, however, that projecting the ban and associated military intervention as actions taken specifically to protect the environment has helped the government escape scrutiny over its choice of strategy to combat illegal mining. Perhaps more importantly, it has masked what may be the real reasons behind these moves: 1) to help the government regain control of the purchasing side of an ASM sector that is now heavily populated and influenced by foreigners; and 2) to put it in an improved position to demarcate parcels of land to the multinational mineral exploration and mining companies that supply it with significant quantities of revenue in the form of taxes, royalties and permit fees.