EFFECT OF THE NEW ECONOMY IN BANKING SECTOR: EXPERIENCE OF GHANA

Yıl 2018, Cilt: 4 Sayı: 12, 547 - 561, 01.06.2018

Seniha Alev Söylemez , Abdul-Hamid Ahmed

Öz

Bankacılık sektörü Gana ekonomisinin önemli bir bileşenidir. Bu Araştırma Raporu, 1990-2016 yılları arasındaki verileri kullanarak bankacılık sektörünün performans ve yeni ekonomi arasındaki ilişkiyi ve yeni ekonominin Gana bankacılık sektörünün başarısına katkısını analiz etmektedir. Çalışma ayrıca, Gana'da bankacılık sektörü ve yeni ekonomi ile ilgili kamuoyunun görüşünü almak için kullanılan bir araştırma çalışması anketini kullanmıştır. Anahtar zaman serileri ve ekonometrik model, Artırılmış Dickey-Fuller ADF testi, Johansen Cointegration testi, Granger nedensellik ve tanımlayıcı istatistikler idi. Elde edilen sonuçlar, uzun vadede bankacılık sektörü performansı ile yeni ekonomi arasındaki pozitif korelasyonun varlığını göstermekte ve ayrıca, bankacılık sektöründe iyi bir performans, ekonomik büyüme ve GSMH arttığını göstermektedir. Ancak, bankacılık sektörü ve yeni ekonomi arasında beklenen nedensel ilişki için nedensellik testi korelasyonu bir nedensel ilişki gösterdi. Araştırma, hükümet politikalarının Gana ve benzeri ülkelerin ekonomik büyümesini geliştirmeyi hedeflediğini, hiperenflasyon ya da yıl enflasyon oranını azaltmayı, para politikası oranını, özel sektör kredilerini bankalar ve bankalar dışı finans kuruluşlarına artırmayı hedeflediğini ve nihayet yabancı doğrudan yatırımı teşvik etmeyi önermektedir. Sonuç olarak, yeni ekonomi Gana'da mevcut bankacılık sektöründe neler olduğunu göstermiş ve önde gelen avantajlar sağlamıştır. Bankalar giderek en son teknoloji-Cure bankacılığı ile kendilerini donatmışlardır.

Anahtar Kelimeler

Yeni ekonomi, Bankacılık sektörü, Nedensellik testi, Artırılmış Dickey-Fuller testi, Gana

YENİ EKONOMİNİN BANKACILIK SEKTÖRÜNE OLAN ETKİSİ: GANA DENEYİMİ

Öz

Ghana’s banking sector is a critical component of its economy. However, there growing trend of banking sector blues which caught the attention of the public recently. It is largely due to the woefully performance of the economy over the last years. In view of this, the research paper analyzed the relationship between the banking sector’s performance and new economy and the contribution of the new economy to the success of Ghana’s banking industry using time series data spanning from 1990 to 2016. The key time series model adopted to achieve the set objectives were the Augmented Dickey-Fuller ADF Test, Johansen Cointegration Test, Granger Causality and Descriptive Statistics. The results shows presence of positive correlation between the banking sector’s performance and the new economy in the long run. The results also indicated that, a good performance in banking industry bolsters economic growth and GDP at large. However, causality test for the anticipated causal relationship between the banking sector and new economy proved to be correlated, thus, a causal relationship. The research recommends that, government policies aim at improving the banking industry should target reducing hyperinflation, stabilizing the monetary policy rate and increasing private sector credits to banks and non-banks financial institutions and finally encourage foreign direct investment. In conclusion, the new economy has leapfrogged the activities of banking industries in Ghana. Banks have gradually equipped themselves with high tech tools and state –of-art technologies except the rural banks.

Anahtar Kelimeler

New Economy, Banking Industry, Causality Test, Augmented Dickey-Fuller Test, Ghana

Kaynakça

• Blili, S. & Raymond, L. (1993). “Information technology: Threats and opportunities for small and medium-sized enterprises”, International Journal of Information Management, 13 (6):1
• BoG, Bank of Ghana, (2017). “ Ghana’s Banking sector Development Report”, https://www.bog.gov.gh/
• Bothra, N. ; Shukla, R.; Murari, K.; & Tater, B. (2011). “Employees Perception Towards Adoption of IT in Banking Services: A study of Indian Public and Private Sector Banks”, International Journal of Business Derivatives, 1 (2): 218-219
• Boris, J. ;Vladan, K.; & Milos, V. (2014). “The Impact of IT on the Banking Productivity”, Economic Analysis, 47 (1-2) :193-204
• Casolaro, L. & Gobbi, G. (2007). “Information Technology and Productivity Changes in the Banking Industry”, Economic Notes, 36:43-76
• CIR, Computer Industry Report, (1992). “Marketplace Competition in the Personal Computer Industry” Dangolania, S.K. (2011). “The impact of Information Technology in Banking System: A case study in Bank of Keshavarzi, Iran”, 30:13-16
• https://www.sciencedirect.com/science/article/pii/S1877042811018283/
• Engle, R. F. & Granger, C.W.J. (1987). “Co-integration and Error Correction: Representation, Estimation and Testing”, Econometrica, 55 (2):251-276
• Fritz, H. (1984). “The Causality Between Financial Development and Economic Growth”, Economic Journal, PP.1
• Fritz, R. G. (1984). “Time Series Evidence on the Causal Relationship between Financial Deepening and economic Development”, Journal of Economic Development July, pp. 91-112.
• Ghani, E. (1992). “How Financial Markets Affect Long-Run Growth: A Cross-Section study: PPR Working Paper WPS 843, January, World Bank, Washington D.C.
• Granger, C.W.J (1969). “Investigating Causal Relationships by Econometric Model and 78 CrossSpectra Methods”, Econometrical, 37:540-52.
• Greenbaun, S.; Thakor, A.; & Boot, A. (2015). “Contemporary Financial Intermediation”, Academic Press, 3rd Edition: 490
• Gross, D. M. (2001). “Financial Intermediation: A Contributing factor to economic Growth and employment”, International Labour Office, Working Paper Paper, pp. 1-29.
• Jao, Y.C. (1976). “Financial Deepening in economic Growth: A Cross-Section Analysis” Malaysian economics, Vol. 109 (1): 83-109.
• Johansen, S. (1988). “Statistical Analysis of Cointegraion Vectors “, journal of Economic Dynamics and Control, 12 (2-3):231-254.
• Johnson, H.G. (1969). “Inside Money, Outside Money, Income, Wealth and Welfare in Monetary Theory”, Journal of Money, Credit and Banking, Vol. 1, pp. 30-45.
• Jung, W.S. (1986). “Financial Development and Economic Development and Cultural Change”, Vol. 45:324-78.
• Jung, W.S. (1986). “The Relationship between Financial Development and Economic Growth”, Economics Journal, 72:321-334
• King, R. & Levine, R. (1993). “Financial Entrepreneurship and Growth: Theory and evidence”, Journal of moentary economics, Vol. 32 (3), pp. 513-542.
• Leamer, E. E. (1985). “Sensitivity Analyses Would Help.” The American Economic Review, 75(3):308–313. JSTOR, JSTOR, www.jstor.org/stable/1814801.
• Liang, H. & Reichert, A. (2006). “The Relationship between Economic Growth and Banking Sector Development”, Banks and Bank Systems, 1 (2): 19
• Lütkepohl, H. (2005). “New Introduction to Multiple Time Series Analysis”, Econometric/Statistics:515-529
• McKinnon, R. (1973). “Money and Capital in Economic Development”, Washington, D.C., Brookings Institution.
• Odedokun, M.O. (1996). “Alternative econometric approaches for analyzing the role of the financial sector in economic growth: time-series evidence from LDCs”, Journal of Development Economics, 50(1):119-135
• Odedokun, M.O. (1998). “Financial Intermediation and Economic Growth in Developing Countries”, Journal of Economic Studies, 25 (3):203-224
• Owusu-Antwi, G. (2009). “Impact of Financial of Financial Reforms on the Banking System in Ghana”, International Business & Economics Research Journal, 8 (3): 85-100
• Perseroan, P. (1997). “Financial Markets and Development: The Crisis in Emerging Markets”, AsianPacific Economic Cooperation, 33(1):239-240
• Phillips, A. & Perron, P. (1988). “Testing for a Unit Root in Time Series Regression”, Biometrika, 75
• Piatkowski, M. (2003). “The Economic and Institutional Determinants of the New Economy in Transition Economics”, Aeta Oeconomica, 53 (1): 1-27
• Quartey, P. & Afful-Mensah, G. (2014). “Financial and Monetary Policies in Ghana: A Review of Recent Trends”, Africa Growth Institute, 4 (2):115-125
• Zwick, T. (2003). “The Impact of ICT Investment on Establishment Productivity”, National Institute Economic Review, 184 (1):1-19