The Effects of Financial Innovation on Financial Savings: Evidence From an Economy in Transition

dc.contributor.author	Ansong, Abraham
dc.contributor.author	Marfo-Yiadom, Edward
dc.contributor.author	Ekow-Asmah, Emmanuel
dc.date.accessioned	2023-10-16T18:54:19Z
dc.date.available	2023-10-16T18:54:19Z
dc.date.issued	2011
dc.identifier.issn	1522-9076
dc.identifier.uri	http://hdl.handle.net/123456789/9514
dc.description.abstract	The general objective of this research is to establish the effects of financial innovations on financial savings in Ghana for the period 1963 to 2006. Both the perceptual index and M2=M1 that were used as proxies for financial innovation exhibited a positive long-run relationship but a negative short-run relationship. The crux of the study was that financial innovations led to a reduction in financial savings in the short run for one main reason—the prevailing innovative products in Ghana encouraged withdrawals rather than savings. Financial institutions, especially banks, are therefore encouraged to develop savings-related innovative instruments.	en_US
dc.language.iso	en	en_US
dc.publisher	Journal of African Business	en_US
dc.subject	economy in transitio	en_US
dc.subject	financial innovation	en_US
dc.subject	financial institutions	en_US
dc.subject	financial savings	en_US
dc.subject	Ghana	en_US
dc.title	The Effects of Financial Innovation on Financial Savings: Evidence From an Economy in Transition	en_US
dc.type	Article	en_US