-
Research Article
Examining the Role of Financial Technology (FinTech) in Financial Inclusion in Ghana: An Evaluation of the Strategies, Impacts, and Challenges in Practice
Ibrahim Zubairu*
,
Benjamin Amoako Amanquah,
Francis Kwarteng,
Nathan Bortey
Issue:
Volume 13, Issue 1, February 2025
Pages:
1-19
Received:
23 November 2024
Accepted:
19 December 2024
Published:
5 February 2025
Abstract: This study aims to investigate the role of financial technology, or FinTech, in financial inclusion in Ghana through a comparative analysis of strategies, impacts, and difficulties. Financial inclusion is critical for economic development and aims to provide everyone with access to meaningful and cheap financial services. Despite the progress made, Ghana still confronts substantial challenges to financial inclusion, such as regulatory gaps, infrastructure deficiencies, and disparities in socioeconomic status. The study explores several initiatives used in Ghana to increase financial inclusion through Fintech, assesses their success, and highlights the main challenges encountered. Data were collected from a wide demographic using both qualitative and quantitative approaches in order to determine the amount of Fintech adoption and its impact on financial accessibility. The findings show that, while Fintech considerably improves access to financial services and contributes to economic empowerment, difficulties such as insufficient financial literacy, limited digital infrastructure, and regulatory impediments remain. A comparative review of different countries suggests that specific policies and educational programs are critical for solving these challenges. The study concludes with recommendations for governments, financial institutions, and Fintech companies on how to use technology to promote financial inclusion. These include increasing digital literacy, establishing strong regulatory frameworks, and strengthening infrastructure. The insights are intended to assist stakeholders in effectively leveraging Fintech to achieve inclusive growth and contribute to global sustainable development goals.
Abstract: This study aims to investigate the role of financial technology, or FinTech, in financial inclusion in Ghana through a comparative analysis of strategies, impacts, and difficulties. Financial inclusion is critical for economic development and aims to provide everyone with access to meaningful and cheap financial services. Despite the progress made,...
Show More
-
Research Article
Does Market Timing Work Well in China’s Mature and Emerging Stock Markets
Yan He*
Issue:
Volume 13, Issue 1, February 2025
Pages:
20-33
Received:
29 January 2025
Accepted:
12 February 2025
Published:
26 February 2025
Abstract: China’s Hang Seng Index (HSI) represents the mature market, and its Shanghai Stock Exchange Composite Index (SSE), the emerging market. I utilize six market timing (MT) methods and one dollar cost average (DCA) method to invest in the two stock indexes respectively. It is assumed that investors make a series of monthly cash contributions to an equity index in the long term. They do not possess lump-sum cash and cannot borrow cash. They buy and hold equity till the end of an investment period. The DCA method is simple, and it is to invest every monthly cash contribution immediately in an equity index. The six MT methods are complicated, and they are to invest more (less) than the monthly cash contribution, under the cash constraint, if the equity price has declined (risen). Empirical tests have been conducted for the 5-year, 10-year, and 20-year rolling investments during 1991-2022. My findings show that for both the HSI and SSE, the net returns generated by the six MTs are similar to those created by the DCA. In addition, the differences (MT-DCA) in the average monthly returns and modified Sharpe ratios are either statistically insignificant or negative and significant. Therefore, regardless the differences between the Hong Kong and mainland China markets, the complicated MTs do not outperform the simple CA in China’s mature and emerging stock indexes.
Abstract: China’s Hang Seng Index (HSI) represents the mature market, and its Shanghai Stock Exchange Composite Index (SSE), the emerging market. I utilize six market timing (MT) methods and one dollar cost average (DCA) method to invest in the two stock indexes respectively. It is assumed that investors make a series of monthly cash contributions to an equi...
Show More
-
Research Article
Unemployment in the Palestinian Territories: Testing How External Funding Makes a Difference Using ARDL Methodology
Mohammad Aref Ibrahim*
Issue:
Volume 13, Issue 1, February 2025
Pages:
34-48
Received:
31 January 2025
Accepted:
17 February 2025
Published:
26 February 2025
Abstract: Unemployment in the Palestinian Territories has reached a critical level due to political instability, economic fragmentation, and restrictions imposed by Israel. This study examines the effects of external funding on unemployment, considering variables such as foreign grants and aid, foreign direct investment, compensation of workers in Israel, private sector transfers from abroad, and trade openness as a control variable. Utilizing quarterly data from 2000 to 2023, this analysis employs the ARDL model to explore the short- and long-term relationships between these variables and unemployment rates. The results show that foreign grants and aid, foreign direct investment, and trade openness significantly reduce unemployment in the long run, indicating that these factors can stimulate employment and economic activity. Conversely, foreign private-sector transfers increase unemployment, suggesting a failure to channel remittances into productive investments. The marginal effects reveal a short-term decrease in unemployment due to foreign grants, while private transfers cause a temporary shock. The error correction model (ECM) indicates a relatively fast convergence towards equilibrium, with approximately 45.7% of each disequilibrium corrected every quarter. These findings underscore the need to align external funding with development priorities, promote the productive use of remittances, and enhance trade openness. Targeted investments, transparency, and economic stability are crucial for maximizing the impact of external funding on reducing unemployment and achieving sustainable development in the Palestinian Territories.
Abstract: Unemployment in the Palestinian Territories has reached a critical level due to political instability, economic fragmentation, and restrictions imposed by Israel. This study examines the effects of external funding on unemployment, considering variables such as foreign grants and aid, foreign direct investment, compensation of workers in Israel, pr...
Show More
