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

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dc.contributor.author Ansong, Abraham
dc.contributor.author Marfo-Yiadom, Edward
dc.contributor.author Ekow-Asmah, Emmanuel
dc.date.accessioned 2021-03-15T16:13:03Z
dc.date.available 2021-03-15T16:13:03Z
dc.date.issued 2011
dc.identifier.issn 1522-9076
dc.identifier.uri http://hdl.handle.net/123456789/4905
dc.description 22p;ill en_US
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 University of Cape Coast en_US
dc.subject economy in transition 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


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