The Nordic Africa Institute – Publications

nai.se
Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
An Empirical Analysis of the Determinants of Interest Rates in Ghana
The Nordic Africa Institute, Research Unit.ORCID iD: 0000-0002-1520-5725
Kwame Nkrumah University of Science and Technology.
2016 (English)In: Journal of African Business, ISSN 1522-8916, E-ISSN 1522-9076, Vol. 17, no 3, p. 377-396Article in journal (Refereed) Published
Abstract [en]

This paper provides an empirical analysis of the determinants of the bank lending rate in Ghana using annual time series data from 1970 to 2013. We found evidence of a long-run equilibrium relationship between the average lending rate charged by commercial banks and its determining factors. In the long run, bank lending rates in Ghana are positively influenced by nominal exchange rates and Bank of Ghana’s monetary policy rate but negatively with fiscal deficit, real GDP and inflation. We also find positive dependence of the bank lending rate on exchange rates, and the monetary policy rate both in the short and long run. Specifically, our findings reveal that the Bank of Ghana’s monetary policy rate and the exchange rate, by far, show strong contemporaneous effects on the average bank lending rate in Ghana.

Place, publisher, year, edition, pages
2016. Vol. 17, no 3, p. 377-396
Keywords [en]
Ghana, interest rate, ARDL, commercial banks, monetary policy, fiscal policy
National Category
Economics
Identifiers
URN: urn:nbn:se:nai:diva-2096DOI: 10.1080/15228916.2016.1207493OAI: oai:DiVA.org:nai-2096DiVA, id: diva2:1066014
Available from: 2017-01-17 Created: 2017-01-17 Last updated: 2021-04-21Bibliographically approved

Open Access in DiVA

No full text in DiVA

Other links

Publisher's full text

Search in DiVA

By author/editor
Adu, George
By organisation
Research Unit
In the same journal
Journal of African Business
Economics

Search outside of DiVA

GoogleGoogle Scholar

doi
urn-nbn

Altmetric score

doi
urn-nbn
Total: 1760 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf