Mobile Money Use, Digital Banking Services and Velocity of Money in Ghana
Evans N. N. D. Ocansey,
Philomena Dadzie,
Nicholas Bamegne Nambie
Abstract:Investigating the correlation between digital financial services, mobile money usage, and money velocity in Ghana, the study analysed time series data spanning from 1992 to 2022. A composite index was constructed by principal component analysis using data extracted from the world development indicators, with the components mobile money usage, digital financial services, and velocity of money. The estimation utilised an impulse response function and vector error correction model; the results indicated that mobi… Show more
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