PurposeThis paper acknowledges the rising levels of non-performing loans (NPLs) and the consequences associated with such patterns to an emerging economy like Ghana. In theory, one would expect rising NPLs to have a negative impact on an economy, especially regarding credit creation and private sector growth. This research, consistent with empirical literature, constructs a measure of financial market development to investigate its effect on Ghana's NPLs.Design/methodology/approachThe fully modified ordinary least squares (FMOLS) econometric technique is used as a way of addressing common time series identification issues such as endogeneity and serial correlation.FindingsThe study finds that the growth of the financial market has a negative and statistically significant relationship with NPLs in Ghana. Therefore, building a stable financial sector is key to addressing Ghana’s rising rates of NPLs.Practical implicationsApplying the breaks to Ghana's NPLs would involve deepening credit and improving efficiency through good governance. The study suggests that such a mechanism would increase financial sector performance and reduce the growth risks arising from the industry.Originality/valueThe study analyzes the influence of financial market development on the quarterly growth of NPLs in Ghana. Most studies only focus on annual growth of NPLs.

PurposeIn the wake of climate change and its associated impact on firms' performance, this paper attempts to provide a piece of empirical evidence in support of the effect of weather conditions on the stock market performance.Design/methodology/approachMonthly time-series dataset and the fully modified ordinary least square (FMOLS) semi-parametric econometric technique are used to establish the effect of weather variables on stock market return.FindingsThis study finds that temperature and wind speed have a negative and statistically significant relationship with stock market performance. Likewise, humidity exhibits a negative relationship with stock market performance, albeit insignificant. The relevant stock market and macroeconomic control variables are statistically significant in addition to exhibiting their expected signs. The findings lend support to advocates of behavioural factors inclusion in asset pricing and decision-making.Practical implicationsFor policy purposes, the authors recommend that traders, investors and stock exchange managers must take into consideration different weather conditions as they influence investors' behaviour, investment decisions, and consequently, the stock market performance.Originality/valueTo the best of the authors’ knowledge, this study provides the first empirical evidence of the nexus between disaggregated weather measures and stock market performance in Ghana. This study uses monthly data (which are very rare in the literature, especially for developing country studies) to provide empirical evidence that weather influences stock market performance.

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This study complements the extant literature by assessing the role of governance dynamics in food security in Ghana for the period 1980–2019. The empirical evidence is based on the fully modified ordinary least squares technique and governance is categorized into political (entailing political stability and voice and accountability), economical (consisting of regulatory quality and government effectiveness), and institutional (entailing corruption‐control and the rule of law) governance dynamics. The study finds that the engaged governance dynamics improve food security in Ghana. Policy implications are discussed with specific emphasis on the sustainable development goals.Related ArticlesAyanoore, Ishmael, and Sam Hickey. 2022. “Reframing the Politics of Natural Resource Governance in Africa: Insights from the Local Content Legislation Process in Ghana.” Politics & Policy 50(1): 119–36. https://doi.org/10.1111/polp.12449.Oehmke, James F., Sera L. Young, Godfrey Bahiigwa, Boaz Blackie Keizire, and Lori Ann Post. 2018. “The Behavioral‐Economics Basis of Mutual Accountability to Achieve Food Security.” Politics & Policy 46(1): 32–57. https://doi.org/10.1111/polp.12244.Pelizzo, Riccardo, and Zim Nwokora. 2018. “Party System Change and the Quality of Democracy in East Africa.” Politics & Policy 46(3): 505–28. https://doi.org/10.1111/polp.12255.

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