EFFECTS OF FINANCIAL SECTOR REFORMS ON ECONOMIC GROWTH:. DIGITAL TRANSFORMATION OF GHANA’S BANKING INDUSTRY THROUGH THIRD GENERATION FINANCIAL SECTOR REFORMS

      Аннотация: Observation and concerns about the current outdated financial system and technological underdevelopment of Ghana’s banking industry are escalating and unbearable. This study examined the relationship between financial sector reforms and economic growth. The general objective was to analyze the effects of third generation financial sector reforms in the banking industry on economic growth of Ghana in order to produce new knowledge for improving Ghana’s economy, using a quasi-experimental design, a scientific and quantitative methods. The study used both primary data and secondary data. Survey and observation methods were used to collect primary data, whiles documents and records review methods were used to collect secondary data. The study used SPSS and Excel to process data and produce output. The study employed descriptive and correlation frameworks of analysis. Data analysis techniques were multiple linear regression, Pearson correlation analysis, descriptive statistics and trend analysis. Based on an in-depth analysis consistent with peer-reviewed literature, the findings indicate that: The third generation financial sector reforms have accelerated economic growth of Ghana.

Ключевые слова: Financial Sector Reforms, Economic growth, Digital transformation, banking industry, third-generation financial sector reforms, financial technology (fintech).