Challenges and Prospect of Ghana Financial Market (A Case Study of Capital Market over Money)

Gabriel Buabeng Forson; Emmanuel Teitey; Emmanuel Attah Kumah Amponsah

doi:10.36948/ijfmr.2024.v06i03.20990

Challenges and Prospect of Ghana Financial Market (A Case Study of Capital Market over Money)

Author(s)	Gabriel Buabeng Forson, Emmanuel Teitey, Emmanuel Attah Kumah Amponsah
Country	Ghana
Abstract	Generally, the financial market is known to play a significant role in the development of economies. The purpose of this study was to examine the prospects and challenges of the Ghanaian financial market. The study adopted the mixed method approach, combining qualitative and quantitative methods, to sample the view of 150 operators of the financial market in Ghana with the aid of a questionnaire consisting of closed ended questions as well as an interview guide. Regarding confidence in the financial market, the study showed that 37.3% had confidence in the money market whilst 28.7% had confidence in the capital market. Findings showed that the money market (42.7%) was operationally attractive as compared to the capital market (26%). However, findings showed that the capital market (34.7%) was well regulated as compared to the money market (32%). Regarding the challenges of the capital market, the key challenges included poor understanding of the concept of capital market (40, 22.2%), unnecessary interventions by the regulatory authority in terms of operations (35, 19.4%), whilst that of the capital market included inadequate staff members to help in providing services to the consumers (33, 25%) and overcrowded industry (17,4%). The study concluded that there is need for the government to realize and appreciate a balanced financial market and its potential contribution to the economy. The study recommends the need for bringing together all the key stakeholders in the financial market for effective restructuring of the market. However, in relation to capital adequacy requirement increase, it is necessary to ensure strong and effective financial market but it is also necessary take into consideration of local players in the market. This will help strengthen and sustain the entire financial market growth. Key words: financial market, capital market, money market, regulatory policies
Keywords	financial market, capital market, money market, regulatory policies
Published In	Volume 6, Issue 3, May-June 2024
Published On	2024-06-30
Cite This	Challenges and Prospect of Ghana Financial Market (A Case Study of Capital Market over Money) - Gabriel Buabeng Forson, Emmanuel Teitey, Emmanuel Attah Kumah Amponsah - IJFMR Volume 6, Issue 3, May-June 2024. DOI 10.36948/ijfmr.2024.v06i03.20990
DOI	https://doi.org/10.36948/ijfmr.2024.v06i03.20990
Short DOI	https://doi.org/gt3nkf

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Challenges and Prospect of Ghana Financial Market (A Case Study of Capital Market over Money)

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