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Erschienen in:
2008 | OriginalPaper | Buchkapitel
Financial Sector Development, Savings Mobilization and Poverty Reduction in Ghana
verfasst von : Peter Quartey
Erschienen in: Financial Development, Institutions, Growth and Poverty Reduction
Verlag: Palgrave Macmillan UK
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Domestic resources serve as a vital engine of growth and poverty reduction. However, the effective mobilization of domestic resources depends on an efficient and well-developed financial market. The financial sector in Ghana has undergone change in terms of the number of institutions and services rendered, as a result of the financial sector liberalization programme pursued in the late 1980s, which led to interest rate liberalization and the entrance of new players. The outcome of this liberalization policy is reflected in Ghana’s financial development indicators: the M2/GDP ratio increased from 0.195 in 1996 to 0.32 in 2003. Similarly, over the same period the currency/M2 ratio declined from 0.41 to 0.29.