2,991
Views
22
CrossRef citations to date
0
Altmetric
Emerging Multinationals in a Digital Era

Implications of digital economy for financial institutions in Ghana: an exploratory inquiry

Pages 51-61 | Received 16 Mar 2020, Accepted 21 Jun 2020, Published online: 14 Jul 2020

References

  • Adjei-Frimpong, K., Gan, C., & Hu, B. (2014). Cost efficiency of Ghana’s banking industry: A panel data analysis. The International Journal of Business and Finance Research, 8, 69–86.
  • Afonasova, M.A., Panfilova, E.E., Galichkina, M.A., & Ślusarczyk, B. (2019). Digitalization in economy and innovation: The effect on social and economic processes. Polish Journal of Management Studies, 19, 22–32. doi:10.17512/pjms.2019.19.2.02
  • Aker, J.C., & Wilson, K. (2013). Can mobile money be used to promote savings? Evidence from Northern Ghana. Amsterdam, Netherlands: Elsevier.
  • Akomea-Frimpong, I., Andoh, C., Akomea-Frimpong, A., & Dwomoh-Okudzeto, Y. (2019). Control of fraud on mobile money services in Ghana: An exploratory study. Journal of Money Laundering Control, 22, 300–317. doi:10.1108/JMLC-03-2018-0023
  • Aloqab, A., Alobaidi, F., & Raweh, B. (2018). Operational risk management in financial institutions: An overview. Hunan, China: Hunan University.
  • Amuakwa–Mensah, F., & Boakye–Adjei, A. (2015). Determinants of non–performing loans in the Ghana banking industry. International Journal of Computational Economics and Econometrics, 5, 35–54. doi:10.1504/IJCEE.2015.066207
  • Asongu, S., & Nnanna, J. (2018). ICT in reducing information asymmetry for financial sector competition. Yaoundé, Cameroon: African Governance and Development Institute WP/18/035.
  • Atje, R., & Jovanovic, B. (1993). Stock markets and development. European Economic Review, 37, 632–640. doi:10.1016/0014-2921(93)90053-D
  • Awo, J.P., & Akotey, J.O. (2019). The financial performance of rural banks in Ghana. World Journal of Entrepreneurship, Management and Sustainable Development, 15, 2–18. doi:10.1108/WJEMSD-02-2018-0012
  • Basel Committee. (2011). Principles for the Sound Management of Operational Risk. Basel, Switzerland: Bank for International Settlements Communications.
  • Bank of Ghana. (2016). Annual report 2016. Retrieved from www.bog.gov.gh
  • Bank of Ghana. (2017). Annual report 2917. Retrieved from www.bog.gov.gh
  • Bank of Ghana. (2018). Digital and virtual currencies operations in Ghana. Notice to banks and specialized deposit-taking institutions (SDIs) and the general public. Notice No. BG/GOV/SEC/2018/02. Greater Accra, Ghana: Bank of Ghana.
  • Bank of Ghana. (2019a). Banking sector report. Banking-Sector-report-July-2019-1.pdf. Greater Accra, Ghana: Bank of Ghana.
  • Bank of Ghana. (2019b). Payment systems: An overview. Retrieved from https://www.bog.gov.gh/banking-and-payments-system/overview-of-payment-systems-in-ghana/
  • Barefoot, K., Curtis, D., Jolliff, W., Nicholson, J.R., & Omohundro, R. (2018). Defining and measuring the digital economy (p. 15). Washington, DC: US Department of Commerce Bureau of Economic Analysis.
  • Benson, S.P. (2019). “The clerking sisterhood”: Rationalization and the work culture of saleswomen in American department stores, 1890–1960. In L. N. Shumsk (ed.),The working class and its culture (pp. 69–83). Abingdon: Routledge.
  • Boateng, R., Olumide, L., Isabalija, R.S., & Budu, J. (2011). Sakawa-cybercrime and criminality in Ghana. Journal of Information Technology Impact, 11, 85–100.
  • Boiko, V.O., Verkhoglyadova, I., Volska, O.M., & Hranovska, V.H. (2020). Scientific approaches to modernizing the economic system: Vector of development (p. 352). Lviv-Toruń, Ukraine: Liha-Press.
  • Bukht, R., & Heeks, R. (2017). Defining, conceptualising and measuring the digital economy, Development Implications of Digital Economies (DIODE), No. 68. University of Manchester, Manchester. Retrieved from www.gdi.manchester.ac.uk/research/publications/working-papers/di/
  • Chakpitak, N., Maneejuk, P., Chanaim, S., & Sriboonchitta, S. (2018). Thailand in the era of the digital economy: How does digital technology promote economic growth? Studies in Computational Intelligence, 753, 350–362.
  • Cooray, A. (2010). Do stock markets lead to economic growth? Journal of Policy Modeling, 32, 448–460. doi:10.1016/j.jpolmod.2010.05.001
  • Dahlman C..Mealy S.& Wermelinger M..2016. Harnessing the Digital Economy for Developing Countries, OECD, Paris. Retrieved in July 2020 from http://www.oecd-ilibrary.org/docserver/download/4adffb24-en.pdf.
  • Durusu-Çiftçi, D. (2017). European integration and convergence in government expenditures. In I. H. Aydın, M. Ziolo, & A. Bălăcescu (eds.), Logic of our age: The individual and society in the market’s grasp (p. 147). IJOPEC.
  • Elmasry, T., Benni, E., Patel, J., & Moore, J.P. (2016). Digital Middle East: Transforming the region into a leading digital economy. New York, NY: McKinsey.
  • Esoimeme, E. (2020). How banks can detect illicit funds of individuals who are unknowingly recruited as money mules. SSRN 3513558. Amsterdam, Netherlands: Elsevier.
  • Fahlevi, M., & Surtinah, W. (2019). The effect of external and internal factors on financial performance of Islamic banking. Journal of Research in Business, Economics, and Education, 1, 71–84.
  • Fanusie, Y., & Robinson, T. (2018). Bitcoin laundering: An analysis of illicit flows into digital currency services. Center on Sanctions and Illicit Finance Memorandum, January. Retrieved in July from https://info.elliptic.co/whitepaper-fdd-bitcoin-laundering
  • Grabosky, P., Smith, R.G., Smith, R.G., & Dempsey, G. (2001). Electronic theft: Unlawful acquisition in cyberspace. Cambridge: Cambridge University Press.
  • Haftu, G.G. (2019). Information communications technology and economic growth in Sub-Saharan Africa: A panel data approach. Telecommunications Policy, 43, 88–99. doi:10.1016/j.telpol.2018.03.010
  • Hull, C., & Zwiebach, B. (2009). Double field theory. Journal of High Energy Physics, 2009, 099–099. doi:10.1088/1126-6708/2009/09/099
  • Hutton. S. K. (2017). Organized Crime: An Ethnographic study of the monitoring and disrupting of those designated as high-level ‘organized criminals’ within the Metropolitan Police. PhD. thesis. The Open University.
  • Hranovska, V. (2020). Geomarketing as a tool for ensuring the competitive development of agricultural enterprises. Lviv-Toruń, Ukraine: Liha-Pres.
  • Hsieh, H.F., & Shannon, S.E. (2005). Three approaches to qualitative content analysis. Qualitative Health Research, 15, 1277–1288. doi:10.1177/1049732305276687
  • IMF. (2018). Measuring the digital economy. IMF Policy Papers. Washington, DC: International Monetary Fund.
  • Jakšič, M., & Marinč, M. (2019). Relationship banking and information technology: The role of artificial intelligence and FinTech. Risk Management, 21, 1–18. doi:10.1057/s41283-018-0039-y
  • Jenkins, P., & Mathurin, P. (2012). Bank staff costs take bigger Share of Pot. London: Financial Times.
  • Kang, S., & Bae, H. (2019). Kenya’s mobile money and financial inclusion: Cultural implications. Global Culture Research, 10, 23–46.
  • Kayiska, H.C., & Chekol, A. (2011). ICT policy development process in Africa. In E. Esharenana Adomi (Ed.), Handbook of research on information communication technology policy: Trends, issues and advancements. Hershey, PA: IGI Global.
  • Madugu, A.H., Ibrahim, M., & Amoah, J.O. (2020). Differential effects of credit risk and capital adequacy ratio on profitability of the domestic banking sector in Ghana. Transnational Corporations Review, 12, 37–16. doi:10.1080/19186444.2019.1704582
  • Matey, J. (2019). Financial performance analysis of distressed banks in Ghana: Exploration of financial ratios and z-score. Munich, Germany: University Library of Munich.
  • Mensah A.M.D.2019. Determinants of Non-Performing Loans of Banks in Ghana: A Case of Listed Banks. Unpublished work. Retrieved in July 2020 from http://ugspace.ug.edu.gh/handle/123456789/30696
  • Mesenbourg, T.L. (2001). Measuring the digital economy. US Bureau of the Census, 1. Suitland-Silver Hill, MD: US Bureau of the Census.
  • Ministry of Finance. (2018). Financial sector report 2018. Accra, Ghana: Buck Press Limited.
  • Mugarura, N. (2017). The use of anti-money laundering tools to regulate Ponzi and other fraudulent investment schemes. Journal of Money Laundering Control, 20, 231–246. doi:10.1108/JMLC-01-2016-0005
  • Must, B., & Ludewig, K. (2010). Mobile money: Cell phone banking in developing countries. Policy Matters Journal, 7, 27–33.
  • Mwashiuya, H.T., & Mbamba, U.O. (2020). Relationship of information and communication technology adoption on microfinance institutions operational performance and access to financial services in Tanzania. International Journal of Information, Business and Management, 12, 214–237.
  • Myovella, G., Karacuka, M., & Haucap, J. (2020). Digitalization and economic growth: A comparative analysis of Sub-Saharan Africa and OECD economies. Telecommunications Policy, 44, 101856. doi:10.1016/j.telpol.2019.101856
  • Nair, M., Kuppusamy, K., & Davison, R. (2005). A longitudinal study on the global digital divide problem: Strategies to close cross-country digital gap. Business Review Cambridge, 4, 315–326.
  • National Communications Authority. (2015). Market share statistics: Mobile data subscription. Accra, Ghana: NCA.
  • National Communications Authority. (2019). Data statistics: Mobile data subscription. Accra, Ghana: NCA. Retrieved from nca.org.gh/industry-data-2/market-share-statistics-2/telecom-data-subs/
  • Nirmala, M., & Prasath, K.R. (2020). A study on the emergence of virtual wallet as a mode of digital payments. Our Heritage, 68, 355–366.
  • Nyarko, F.K., Yusheng, K., & Zhu, N. (2017). Corporate governance and performance of firms: An empirical evidence from the banking sector of Ghana. Journal of Economics and International Business Management, 5, 14–29.
  • OECD. (2014). The digital economy, new business models and key features in addressing the tax challenges of the digital economy. Paris, France: OECD Publishing.
  • Osman, A.M.S. (2019). A novel big data analytics framework for smart cities. Future Generation Computer Systems, 91, 620–633. doi:10.1016/j.future.2018.06.046
  • Perez, C. (2010). Technological revolutions and techno-economic paradigms. Cambridge Journal of Economics, 34, 185–202. doi:10.1093/cje/bep051
  • Prema, A.A. (2020). A study on digital finance and its impact on financial inclusion. Our Heritage, 68, 529–529.
  • Popper, N. & Ruiz, R.R. (2017). Two Leading Online Black Markets Are Shut Down by Authorities. The New York Times. July 20. Retrieved from https://www.nytimes.com/2017/07/20/business/dealbook/alphabay-dark-web-opioids.html
  • PWC. (2019). Banking reforms so far: Topmost issues on the minds of bank CEOs. Ghana Banking Survey. Accra, Ghana: PricewaterhouseCoopers (Ghana) Limited.
  • Sándorová, Z. (2014). Content analysis as a research method in investigating the cultural components in foreign language textbooks. Journal of Language and Cultural Education, 2, 95–128.
  • Şcheau, M.C., & Pop Zaharie, S. (2017). Methods of laundering money resulted from cyber-crime. Economic Computation & Economic Cybernetics Studies & Research, 51, 299–314.
  • Schumpeter, J.A. (1912/1934). Theorie der wirtschaftlichen entwicklung. Leipzig: Duncker & Humblot. English translation published in 1934 as the theory of economic development. Cambridge, MA: Harvard University Press
  • Strømmen-Bakhtiar, A. (2019). Digital economy, business models, and cloud computing. In Global virtual enterprises in cloud computing environments (pp. 19–44). Hershey, PA: IGI Global.
  • Tapscott, D. (1997). The digital economy: Promise and peril in the age of networked intelligence. Vol. 1. New York, NY: McGraw-Hill.
  • UNCTAD, Division on Technology and Logistics (2017). The ‘new’ digital economy and development. Retrieved from https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=2ahUKEwjQ_NGWnb3nAhVMUBUIHYXDDTIQFjABegQIBBAC&url=https%3A%2F%2Functad.org%2Fen%2FPublicationsLibrary%2Ftn_unctad_ict4d08_en.pdf&usg=AOvVaw1ANp1UEs1WYRW9VYVNzEHB
  • United Nations Conference on Trade and Development Economy Report. 2019. Value Creation and Capture Implications for Developing Countries. New York NY: United Nations Publications.
  • Wesselink, B. (1996). Monitoring guidelines for semi-formal financial institutions active in small enterprise finance. Dublin, OH: International Labour Office, Enterprise and Cooperative Development Department.
  • World Bank Database. (2018). World bank database, financial access survey. Retrieved on April 24 2020 from https://databank.worldbank.org/reports.aspx?source=2&series=FB.ATM.TOTL.P5

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.