This article demonstrates and highlights the conceptual limits of current empirical market integration (MI) time series models (threshold models) and their implications on market effi ciency and competitive equilibrium conclusions. The complexities and diversities that characterise the analysis of the concept of market integration are evaluated within the framework of Enke-Samuelson-Takayama-Judge (ESTJ) spatial equilibrium theory. The effi ciency and competiveness implications drawn from MI models are limited by how the data generation process (DGP) is infl uenced by equilibrium conditions, by the tradability restrictions of the inter-markets relationships and by the presence of unobserved transactions costs. However, empirical applications scarcely address these limitations. Two sets of synthesized data with varying levels of non-linear complexity implied by alternating equilibrium conditions are generated to demonstrate conceptual limits of current threshold models in market integration analysis. Inconsistent conclusions that linear representations imply for threshold propagated DGP will also apply for conclusions derived from threshold models if markets are characterised by switching equilibria conditions.

This study analyzes the socio-economic factors that influence people’s decision to become fishermen in the central region of Ghana. Using a well structured interview schedule, a random sample of 98 people from Elmina in the central region of Ghana was selected for the study. Results from the descriptive statistics analysis of respondents identified fishing as a family business, minimum skills requirement and ready market for fish demand as factors that motivated majority of the people into fishing. Lack of storage facilities, access to credit, lack of government assistance and unpredictable changes in weather conditions on sea were the main constraints to fishing activities. Results from the logistic regression model indicated that household size and access to credit were significant factors that positively influenced people’s decision to become fishermen. The regression analysis further revealed that engaging in other income generating activity and being educated significantly reduces the probability to start fishing business

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Functioning agricultural markets are fundamental to unlock economic growth and to accelerate agricultural development. Understanding the behavior of agriculture markets is crucial for price, poverty and livelihood policy strategies in agrarian economies. To assess price transmission and market efficiencies of Ghanaian yam markets spatial market integration analysis of five major yam markets: Techiman, Tamale, Wa, Kumasi and Accra was conducted. Monthly wholesale price data between January 2006 and June 2018 were used. Results from the momentum threshold autoregressive (M-TAR) model indicated the presence of co-integration and price transmission asymmetries. Thus, price increases in Techiman reference market are more rapidly transmitted to the other regional markets than price reductions. It is recommended that the source of this type of asymmetry be investigated as it favors middlemen at the expense of producers and retailers/consumers for appropriate marketing policy intervention.

In recent times the financial sector (FS) of Ghana has been saddled with liquidity and operational challenges leading to several financial policies put in place by the Central Bank. The financial crisis and its resultant stringent measures affected public confidence as many customers lost their investments/savings while some financial institutions were consolidated or collapsed. Noting the critical role of public confidence in the financial sector, this paper assessed the confidence levels in FS of Ghana, using Asante Mampong Municipality as a case study. A random sample of 384 respondents was used. Due to the ordinal nature of the dependent variable (confidence levels), the Partial Proportional Odds (PPO) model was used when the ordered logit model failed to pass the proportional odds assumption. About 46.4% of the respondents reported having ‘no confidence’ in the financial institutions of the country, while 37% indicated having ‘somehow confident’ in the sector. Less than 20% of the respondents expressed ‘confident’ (13.3%) or ‘very confident’ (3.4%) in the FS. Duration of engagement with a financial institution, loss of investment, awareness of crisis/reforms of the financial sector and income levels affected the confidence levels in the financial sector. Financial institutions are recommended to strengthen their relationship with customers by providing improved services and policy measures that secure customers investment/savings to ensure sustained and increased levels of confidence.