دورية أكاديمية
Currency reform, currency biases and Ghana’s forex market fluctuations: Beyond the macroeconomic fundamentals
| العنوان: | Currency reform, currency biases and Ghana’s forex market fluctuations: Beyond the macroeconomic fundamentals |
|---|---|
| المؤلفون: | Bernard Bawuah, Samuel Agyei-Ampomah, Anthony Owusu-Ansah, Francis Atsu |
| المصدر: | Cogent Economics & Finance, Vol 11, Iss 2 (2023) |
| بيانات النشر: | Taylor & Francis Group, 2023. |
| سنة النشر: | 2023 |
| المجموعة: | LCC:Finance LCC:Economic theory. Demography |
| مصطلحات موضوعية: | currency reform, behavioral biases, forex market, money illusion, macroeconomic fundamentals, Finance, HG1-9999, Economic theory. Demography, HB1-3840 |
| الوصف: | AbstractRedenomination of currency has become a common phenomenon in recent past among emerging and transitional economies. In 2007, Ghana became one of the economies to redenominate in recent past. This currency policy adaptation has the potential of triggering certain individual behavioral biases on the forex market. This study provides evidence that currency biases that accompanied Ghana’s currency reform adaptation in 2007 contribute to its forex market price (exchange rate) fluctuations. Using data from 1980 to 2018 with some estimated biases and some selected macroeconomic fundamentals as covariates in an ANCOVA (Analysis of Covariance) model, the study revealed that estimated biases which were induced as a result of currency reform adaptation impact positively and significantly on Ghana’s forex market prices. It is therefore recommended that policy makers, political leaders and stakeholders begin to look at human factors that may exist in the forex market and incorporate this information into future plans in addressing issues relating to forex market fluctuations. |
| نوع الوثيقة: | article |
| وصف الملف: | electronic resource |
| اللغة: | English |
| تدمد: | 23322039 2332-2039 |
| العلاقة: | https://doaj.org/toc/2332-2039Test |
| DOI: | 10.1080/23322039.2023.2276364 |
| الوصول الحر: | https://doaj.org/article/47eb970a82714e8bbe3e31bd84ffb174Test |
| رقم الانضمام: | edsdoj.47eb970a82714e8bbe3e31bd84ffb174 |
| قاعدة البيانات: | Directory of Open Access Journals |
Full Text Finder | تدمد: | 23322039 |
|---|---|
| DOI: | 10.1080/23322039.2023.2276364 |