Is the monetary policy rate effective? Recent evidence from Ghana

We examine the effectiveness of monetary policy transmission mechanism in Ghana using several of statistical and econometric techniques for the period 2002M1 - 2014M12. We find monetary policy rate (MPR) to be quite effective in signaling the money market interest rates in both the short run and long run, as the effect is incomplete (that is, not one-to-one). In addition, a hierarchy of short-term money market rates in Ghana is identified as follows: Monetary Policy Rate, Treasury bill rate, Interbank rate and retail rates (preferably, lending rate), accentuating the large role played by Treasury bill interest rate in the interest rate transmission channel in Ghana. Essentially, monetary authority responds positively and contemporaneously to output and inflationary pressures. Inflation is mostly driven by interest rate shock over the medium to long term, pointing to an impact of monetary policy. In the short term, however, exchange rate shock has relatively larger influence on inflation than that emanating from interest rate. In contrast, output is largely driven by credit and assets prices shocks. This suggests that agents' knowledge about future output prospects are immediately reflected in assets prices before impacting on output. The paper therefore supports policies that would promote strong financial and macroeconomic stability to help inure effective monetary policy transmission in Ghana

Assessing Job Satisfaction of Public Universities in Ghana: A Case Study of KNUST

Job satisfaction affects employee performance. Still, the level of job satisfaction of various categories of staff within an organisation, its motivation factors and implications on the management of human resources demand an in-depth study to uncover issues that have not been adequately addressed. This paper probes into these factors affecting job satisfaction of various categories of staff at KNUST to improve job satisfaction and work performance. The study adopted the quantitative approach to research, using stratified and simple random sampling techniques to collect data and SPSS to analyse the data. The study revealed a significant statistical relationship between the category of staff and the level of job satisfaction. It was also found that the factor which mainly contributes to job satisfaction of junior staff is anachievement. For senior staff, it is relationships, while for senior members, it is the work itself. The study further revealed that improving teaching and working conditions is the preferred way of improving job satisfaction. The study, therefore, recommends placement of emphasis on the provision of a congenial environment and the requisite tools and facilities, among others, to improve the job satisfaction of staf

Dynamics of Inflation and Financial Development: Empirical Evidence from Ghana

The study examines the dynamic link between inflation and financial development in Ghana using annual time series from 1964-2012. Specifically, the paper assessed whether the direction of causality between the two differs in the short and long run. In the short run, the paper established a dual negative relationship between the two, while a unidirectional negative effect of inflation on financial development was detected in the long run using sequence of econometric techniques. Inflationary effect was much stronger on Private Credit/GDP than on M2/GDP, while the dampening effect of financial development on inflation largely originated from Private Credit/GDP. Keywords: Inflation, Financial Development, Deepening, Intermediation, Bivariate, Multivariate, Correlation Analysis, Engel-Granger Causality, Vector Error Correction, Vector Autoregression Models, Variance Decomposition, Impulse Response and Ghana. *Disclaimer: This Working Paper should not be reported as representing the views of Bank of Ghana. The opinions expressed in this working paper reflect those of the author and do not represent those of the Central Bank

The influence of African migrant parents on their children's career choices in a new culture

Peter Akosah-Twumasi explored the acculturation strategies and perceived parental influences on career constructions among Sub-Saharan African youth migrants in Australia. He developed three theoretical models, which provided in-depth understanding of the positive parental roles and identified challenges with reconciling personal interests with parents' expectations. His results could foster development of more inclusive counselling interventions

High School Teachers' Mathematical Knowledge Base for Effective Instruction in Ghana: A Systematic Review

This systematic review examines the state of high school teachers' mathematical knowledge base for effective instruction in Ghana. The review encompasses studies conducted between 2014 and the present. The objective is to provide a comprehensive analysis of the current status, strengths, weaknesses, and factors influencing teachers' mathematical knowledge. The review also explores the implications of teachers' mathematical knowledge on instructional practices and student learning outcomes. The study reveals that while some teachers in Ghana possess a strong mathematical knowledge base, there are challenges in developing and maintaining this knowledge. Limited access to professional development opportunities, time constraints, and lack of resources are key obstacles. The review emphasizes the importance of pre-service teacher education programs, ongoing professional development, supportive networks, and curriculum design in enhancing teachers' mathematical knowledge. Recommendations include strengthening pre-service education, providing professional development opportunities, and creating supportive networks. The findings underscore the critical role of teachers' mathematical knowledge in effective mathematics instruction and call for further research and investment in teacher professional development to improve mathematics education in high schools. Keywords: mathematical knowledge, high school teachers, effective instruction, Ghana, systematic review, pre-service teacher education, professional development, curriculum design, knowledge sharin

Attitude of Ghanaian University Students Towards Online Counselling

Online counselling is a complement to the traditional face-to-face approach to counselling. Experts in counselling, however, strongly believe that before online counselling is introduced, it is necessary to ascertain its potential utilization by clients. This study, therefore, investigated the attitude of Ghanaian students towards online counselling using the descriptive survey design. Two research questions and hypotheses guided the study. The population of the study comprised all regular undergraduate students in the University of Cape Coast in Ghana. A sample of 600 students made up of 360 males and 240 females was used. Proportional stratified sampling and simple random sampling techniques were employed. Two online counselling attitude scales were used to source for data. The data were analysed using means, standard deviations and independent samples t-test. The study revealed that respondents’ attitude towards online counselling was both positive and negative. The study also found that although both male and female students expressed positive attitude towards online counselling, females expressed a more positive attitude towards online counselling than their male counterparts. Similarly, both genders demonstrated negative attitude towards online counselling, but males showed a more negative attitude towards online counselling as compared to their female counterparts. However, no significant differences were found in students’ attitudes towards online counselling on the basis of gender. A major implication of the findings was that students have the potential to utilise online counselling, since they demonstrated positive attitude towards online counselling. Based on the findings, it was recommended that counsellors should introduce online counselling to complement the traditional face-to-face approach to counselling. Again, counsellors should educate students on the benefits of online counselling so as to reduce their negative attitude towards online counselling. Keywords: Online counselling; positive attitude; negative attitude; university student

Bible translation in Christian mission : a case study of the spiritual and socio-cultural impact of the Bible translation strategy of the Ghana Institute of Linguistics, Literacy and Bible Translation on the Dega people of Ghana.

Thesis (M.Th.)-University of KwaZulu-Natal, Pietermaritzburg, 2004After participants had been told of the processes of Bible translation during a prayer partners meeting of Ghana Institute of Linguistics, Literacy and Bible Translation (GILLBT), one of them asked, "After the people have been given the Scriptures, what happens?" This study has been an attempt to supply answers to such questions. It attempts to ascertain the impact that the Bible translation strategy (BTS) of GILLBT has had on the Dega people of Ghana, especially their socio-cultural and spiritual lives. The study uses Darrell Whiteman's conceptual framework of Integral Human Development to analyse how the Bible translation strategy has contributed to their human development. The BTS comprises linguistic and anthropological research, Bible translation, literacy and development and Scripture-In-Use. The dissertation traces the historical origins and the rich but distinctive cultural beliefs and practices of the Dega. The results have shown that rete WJ bi ka, tete WJ bi kyere, "the past has a lot to say and teach us". The emergence of the Church and the BTS in the Dega Hare (Degaland) has also been outlined. One fact that runs through all the stories is the conspicuous role that the laity played in bringing the Church to Dega Hare. The Church came as early as in the 1930s, mostly from the south of the country. However, the situation is changing and from the 1990s Dega initiated churches are emerging. The BTS has been in Dega Hare since 1981 and some of the fruits have been the Deg New Testament, an ongoing Old Testament translation, a literacy program that has made over three thousand Dega literate in Deg, a Scripture use promotion program called Scripture-In-Use and an indigenous organisation, Deg Language Project. The dissertation analyses the socio-cultural and spiritual impact that the BTS has had on Dega in chapters four and five. It uses human interest stories and testimonies to depict the impact on the lives of individuals and communities. The dissertation ends with a summary of the findings and some recommendations for the future

Real exchange rate misalignment and macroeconomic implications: Recent evidence from Ghana

We evaluate the degree of real exchange rate (REER)  misalignment and its macroeconomic implications for the  Ghanaian economy using quarterly data (2000Q1-2015Q3). Our results uncovered a clear misalignment of the actual REER from its equilibrium level throughout the sample period, although the REER was close to its equilibrium level at the end of 2012. The study also revealed a weak positive undervaluation-economic growth nexus for Ghana. Overvaluation was observed to exert disinflationary pressures, while undervaluation tends to increase inflationary pressures in Ghana. The study thus suggests that the use of REER undervaluation as a deliberate industrial policy instrument for sustained economic growth may be  counterproductive in the context of Ghana, as such policy may potentially undermine price stability objective of the central bank.Keywords: Equilibrium Exchange Rate; Misalignment;Ghana

Psychosocial Determinants of Premarital Sexual Abstinence Among Senior High School Adolescents

The study examined psychosocial factors that influence adolescents in senior high school to abstain from premarital sex in the Nsawam-Adoagyiri Municipality of Ghana using the exploratory sequential mixed method design. Participants consisted of 341 subjects drawn from the two public senior high schools in the Municipality. Ten participants were selected through purposive sampling for the qualitative study while 331 respondents were selected for the quantitative study using stratified, quota and random sampling techniques. Thematic analysis was used to analyse the qualitative data of the study, while standard multiple regression was used to analyse the quantitative data. The study revealed that some more initiatives are needed in the senior high schools to assist majority of students to abstain from premarital sex. The study also found out that collectively, attitude, subjective norms, perceived behavioural control, home environment, religiosity and school environment, influence adolescents’ intention to abstain from premarital sex. Nonetheless, attitude, subjective norms and perceived behavioural control are psychosocial factors that better predict adolescents’ intention to abstain from premarital sex. School authorities in collaboration with parents, must beef up sex education and assist adolescent students to develop necessary skills and attitudes to abstain from premarital sex