Forschungsjournal für Wirtschaftswissenschaften

Progress and Challenges of Financial Reforms in Ghana

Erasmus L Owusu

This paper purports to review the theoretical and the empirical literature on the progress and challenges of financial reform policies implemented in Ghana since 1982. The literature reviewed show that in Ghana, the results of the financial reform policies have had positive impact. However, in some sectors, the reform policies have led to other challenges not envisaged at the onset of the reforms. Thus, policy makers should put in place an emergency plan to resolve any possible challenges that might occur, as a consequence of the implementation of financial reform policies in other countries.