Dynamics and Drivers of Competition in the Ghanaian Banking Industry

Richard Oduro (), Francis Andoh and Samuel Gameli Gadzo ()
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Richard Oduro: University of Education
Samuel Gameli Gadzo: University of Education

International Journal of Global Business and Competitiveness, 2022, vol. 17, issue 2, No 5, 175-191

Abstract: Abstract This study examines the nature and the change in the level of competition in the various financial sub-markets in Ghana, a lower middle-income country and one of Africa’s emerging economies. We apply the recently developed Boone indicator on annual bank-level data of 22 banks from 2011 to 2020. We find the loan market to be the most competitive compared to the asset market and the fee-based services market. Over time, the nature of competition tends to change from being oligopolistic towards a more monopolistic structure. We find bank size and foreign ownership to contribute to the observed market power and the dynamics of the competition in the Ghanaian banking sector.

Keywords: Financial markets; Banks; Competition; Concentration; Business economics (search for similar items in EconPapers)
JEL-codes: G21 L11 M21 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s42943-022-00046-y

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