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Brain drain and its associated effects on the economy of Ghana
No full textThis paper looks at the effects of brain drain on the Ghanaian economy. Il is a reflective study based on the premise that brain drain has a negative effect on the Ghanaian economy. It is based on exploratory studies in Ghana, United Kingdom, Netherlands, Malaysia, a literature review and a tracking of contemporary events from professionals from the public sector of Ghana, most especially the health sector. Data gathered were subjected to reflective analysis with an outcome which revealed that even though brain drain from Ghana has negative connotations on the public sector because of loss of vital human resources from Ghana to other countries, there are however some associated benefits to Ghanaian households and firms. The benefits include improvement in labor resources, reduction of poverty; financial deepening through remittances repatriated back home and improvement in macroeconomic effects through foreign exchange rates. It was revealed that both the sending and receiving countries of the \u27brains\u27 could strategize to derive mutual benefits
Entrepreneurship practice in developing countries: A look at some distinctive attributes
No full textThe Global Entrepreneurship Monitor (GEM) has set the agenda for researching the ±=k differences between entrepreneurship in developed and developing countries. Particularly significant has been the emergence of the GEM 2003 Executive report (Reynolds et al 2004) that has helped us understand the diversity in the formation of new firms in developed and developing countries. Entrepreneurship in developing countries is distinctive from that practised in more developed countries. A better understanding of these distinctions is critical to policy formulation and private sector development in developing countries. Of particular interest are new and growth-oriented enterprises, which have a greater capacity to create sustainable economicgrowth than micro enterprises or long-established SMEs with limited growth prospects. The purpose of this paper is to identify some of the distinctive attributes of entrepreneurship in developing countries that either help to improve the probability of success or hold back growth-oriented firms
Conceptual paradigm and rethinking project finance strategy for highway projects financing in Ghana
Get PDFProject finance (PF) strategy is a finance process for infrastructure projects that integrates a mixture of equity and debt financing from different sources, which derive their return from the revenue steam of the project over a long-term period with equity component consisting of 20% - 40 % whereas the debt component is of 40% - 80%. Most theoretical and empirical studies on project finance strategy focus on adoption of project finance strategy in financing large capitaldriven projects such as petrochemical projects, mineral extractions and exploitation of \u27green\u27 ventures in developed and emerging economies. Meanwhile, the demand for basic infrastructure projects delivery, more especially, highway projects in developing economies such as that of Ghana are in excesses of what the governments\u27 budget allocations can afford. The paper utilized literature and theory to examine the position of highway construction financing and provides rethinking into possible exploitation of project finance strategy as an alternative means of financing highway projects in Ghana. The paper concluded that revenue-generating mechanisms from the project should be set up characterized by potentially low-risk grading in order to attract PF investors. The originality and value of the study is the integrated and holistic approach of viewing the problem between theoretical and empirical interface. The paper\u27s key contribution to knowledge is the identification of influential variables in a typical PF deal in the context highway projects funding
Performance analysis of Ghanaian banks with mergers and acquisitions noise
No full textMergers and Acquisitions have been identified as an important strategy for corporate inorganic growth in the banking industry. SG-SSB Ltd has recorded impressive operating performance since 2003. It has therefore become a reference entity in the Ghanaian banking industry. Banks with merger and acquisition noise are also performing well with the Agricultural Development Bank, one of the banks with the most recent M&A noise recording impressive sustainable growth rate. Alberts (Decomposed) return on equity model was used to study the operating performance of Cal Bank, ADB and SG-SSB Ltd from risk return perspective to indicate whether the attractiveness of these banks as M&A candidates is due to poor performance. The study indicates that the banks with M&A noise in Ghana are attractive to potential acquirers because of impressive performance and high possibility of improved performance
Intellectual property rights and private foreign direct investment in Sub-Saharan Africa
Get PDFThis article examines the impact of Intellectual Property Rights (IPRs) on private foreign direct investments (PFDI) for a cross-section of Sub- Saharan African (SSA) countries. The results of the study indicate that: (1) strengthening IPRs has a significant positive effect on PFDI, however, beyond a certain optimal level, the effect becomes negative; (2) the trade related agreement on intellectual property has had positive but insignificant effect on PFDI; (3) investors are sensitive to the investment climate of the countries in which they invest; and (4) inflation rate is negatively correlated with PFDI inflows
Innovation and management of financial institutions in Ghana. A review of related literature
No full textFinancial innovations (FIs) have become the bedrock of financial institutions management. This reviewed literature looks at the reasons, effects and forms of financial innovations in the developed market and in the Ghanaian context. It was found from the reviewed literature that the reasons sparking financial innovation are the need to shift from the traditional spectrum of acquiring funds as well as old modes of service delivery by financial institutions - to look for a more attractive mode of satisfying clients. The shift in consumer demand, lifestyle and sophistication has also caused financial institutions to look fora more strategic approach to satisfy customer taste and needs. It can be concluded that FIs have major impacts on the performance and management of financial institutions including improved efficiency, facilitating the payment system, quality service and increased revenue. Moreover, different people benefit from financial products including investors, shareholders, customers, issuers and other stakeholders
The impact of good national governance on economic development
Get PDFThis article is on good national governance. The twenty-first century has opened a new chapter in the administration of many countries, especially African countries. Democracy and good national governance have become the panacea or sure remedies that the western donors have prescribed to the ailing continent of Africa. It is generally believed that, good national governance coupled with donor aid or assistance would lead to economic growth of Africa. Consequently, most African governments are trying to major in the art of good (national) governance so as to benefit from conditions of the western economic and financial mandarins in an attempt to please them. However, good governance continues to elude a larger number of ordinary Africans. Politically, good national governance has been a subject of controversy for some time now. The question as to who, or which institutions or nation sets the parameters within which to measure good governance has been problematic. This is due to the fact that the meaning of good governance has been very subjective, and also influenced by the problems and goals of each country. It is therefore abundantly clear that good national governance has not been fully understood by the various governments and the governed. This is inhibiting the inherent potentials of the countries and citizenry. The effects of bad governance either by governments or corporate institutions can be devastating on a country\u27s economy and development. The article reviews the fundamental tenets of good governance. This is done by critically reviewing the different understandings or meanings of good governance. In addition, weaknesses inherent in some of the definitions are examined. Critical pillars of good national governance are discussed vis-i-vis national economic development and growth. In effect, the article analyses good national governance from its essential pillars of corruption; information disclosure; development and individual rights; participation; the judiciary and legislative systems; corporate accountability; and global balance
The entrepreneurship challenge in Africa
No full textThere is a great excitement in SME circles about the political, social, and economic developments taking place worldwide. Of particular interest are developments in emerging countries, especially those of Africa, where it is believed the SME sector can catapult socioeconomic development. But will entrepreneurship and SME develop be the panacea for African economies? This paper argues that while a positive link exists between economic development and entrepreneurship al least in the developed world (Birch, 1987) one cannot be too sure about a similar research systematically demonstrating the relation in Africa. This raises a fundamental problem. The problem that emerges when attempting to generalize economic development trends from one economy to another is the lack of consideration of current models of entrepreneurship development. Il is widely believed that the development of entrepreneurship is the result of coordination of internal and external components facing the entrepreneur. The favourable nature or lack of it regarding internal and external factors frequently influences the entrepreneurs\u27 ability to create viable organizations. Therefore, external bottlenecks created by African economies need to be removed if SMEs are to be their engines of growth