[雙語(yǔ)翻譯]商業(yè)銀行外文翻譯--加納商業(yè)銀行的競(jìng)爭(zhēng)力

1、6600 英文單詞， 英文單詞，3.6 萬英文字符，中文 萬英文字符，中文 10500 字文獻(xiàn)出處： 文獻(xiàn)出處：Biekpe N . The Competitiveness of Commercial Banks in Ghana[J]. African Development Review, 2011, 23(1):75-87.The Competitiveness of Commercial Banks in GhanaNichol

2、as BiekpeAbstractThe paper empirically investigates the degree of bank competition and intermediation efficiency in Ghana. The evidence obtained suggests a non-competitive market structure in the Ghanaian banking system,

3、 which hampers financial intermediation. The study also finds that Ghanaian banks are monopolistically competitive. It is argued that the structure, as well as the other markets characteristics, constitutes an indirect b

4、arrier to entry thereby shielding the large profits in the Ghanaian banking system. Further, it is argued that policies that encourage and stimulate greater consolidation in the financial sector would go a long way to en

5、hance competition among banks and improve efficiency and profitability.1. IntroductionThis paper seeks to examine the nature and extent of competition in Ghana’s banking sector from 2000 to 2007 and compares that with ea

6、rlier study by Buchs and Mathisen (2005) which covers the period from 1998 to 2003. The main essence of the study is to establish whether competition in the Ghanaian banking sector has changed significantly during the st

7、udy period following the country’s extensive financial sector reforms including the recently introduced Financial Sector Strategic Plan (FINSSIP).The study contributes to policy and existing knowledge on competition in t

8、he Ghanaian banking sector in several ways. Firstly, the competitive nature of banking business in Ghana helps them to strengthen their positions and, in the process, help stabilize the Ghanaian economy. Secondly, the st

9、udy offers useful lessons to regulators on the kind of regulatory framework and other policy measures required to stimulate efficiency in the operations of financial institutions in the country. In terms of contribution

10、to knowledge and methodological innovations, this study adds value to the study by Buch and Mathisen (2005) by considering the relative impact of aggregate local demand for bank services and differences in risk preferenc

11、es across banks on output pricing of loans and revenue generation by banks in the Panzar–Rosse methodology. Three other alternative approaches to analysis, namely the persistence of profitability (POP) approach, the conj

12、ectural variations (CV) method and the estimation of the Lerner Index are applied in the study to assess competition in the Ghanaian banking industry.2. Financial Sector Reforms and Ghana’s Financial SectorPrior to the i

13、ntroduction of financial sector reforms in 1987, the formal financial system of the Ghanaian economy was dominated by state-owned banks which enjoyed monopoly over the entire banking sector in terms of their spread and o

14、perations. The only two foreign banks that existed at the time were Barclays Bank and Standard Chartered Bank (World Bank, 1995). Prior to 1987, there were several financial service sector restrictions that served to und

15、ermine private sector confidence in the Ghanaian banking system as a whole. The banking sector had been battered by exposure to wanton political influence, weak and incompetent management, insufficient capital, obsolete

16、information and accounting systems and poor internal controls. In addition, the banks had a huge portfolio of non-performing loans (NPL) and exposure to a few era of reforms included reforms to the Bank of Ghana Law aime

17、d at providing more supervisory control to the central bank. A second discount house, namely the Security Discount Company (SDC), was also established in 1991 with the main objective of assisting to optimize the allocati

18、on of resources within the banking sector and to make it feasible for resources to be mobilized to support the sector. This was followed, in 1993, by the enactment of the Non-Banking Financial Institutions (NBFI) Law. Th

19、e NBFI Law was enacted to bring non-banking financial institutions under the supervision of the Bank of Ghana. Institutions covered were discount houses, finance houses, acceptance houses, building societies, leasing and

20、 hire-purchase companies, savings and loans companies, and credit unions. In addition to this, the central bank also encouraged the establishment of rural banks as a way of making up for the inability of commercial banks

21、 to reach the rural areas and to provide support for the agricultural sector. The Bank of Ghana owns shares in most of the rural banks and also supervises them. The year 1992 witnessed the taking off of the divestiture p

22、rogramme with an initial progress made on divesting government shares of commercial banks.The third phase of the reforms continued with the restructuring of financial services sector. In March 1995, there was a restructu

23、ring and merger of the Social Security Bank and the National Savings and Credit Bank with 21 per cent of shares divested through public offer and 40 per cent of shares sold to a strategic investor. The Ghana Commercial B

24、ank, the largest bank was also targeted for divestiture with an initial 30 per cent of shares floated but later increased 42 per cent due to oversubscription of the initial offer. As part of the restructuring initiative,

25、 the central bank acquired shares in a number of commercial banks, an exercise envisaged to be a temporary measure. The divestiture programme was later stalled with the suspension of sale of the shares of the Ghana Comme

26、rcial Bank by the Bank of Ghana. This was in response to public outcries over possible foreign domination of the country’s banking sector. The incident resulted in significant loss of opportunity to stimulate competition

27、 and promote a more efficient banking system. The year 2002 also witnessed the coming into effect of the new Central Bank Law. This law establishes and guarantees the independence of the Bank of Ghana. It also confirms t

28、he Bank’s principal objective to be the pursuit of price stability and makes room for the enhancement of its operational efficiency and strengthening of its supervisory role.The recently introduced Financial Sector Strat

29、egic Plan (FINSSIP) provides for the medium-term direction of financial sector reform as from the year 2003. The emphasis of FINSSIP is on regulatory and judicial reform, institutional capacity building, protection of pr

30、ivate property rights, and competition. The government also raised the minimum capital requirement for banks in 2006 in a bid to enhance banks’ ability to withstand possible future deterioration of asset quality. The fin

31、ancial sector reforms are still ongoing, and among the key measures taken to continue with reforms in the sector are the passing of the Credit Reporting Law which requires all banks to submit credit details to a reportin

32、g bureau and the elimination of the secondary reserve requirements to stimulate banking activities. Other most recent reforms in the financial sector include an upgrading of the payments system, strengthening of the cent

33、ral bank’s supervisory capabilities and the enactment of the Insurance Act of 2005. Another key policy measure has been the enactment of the Anti-Money Laundering Act of 2007. This new act provides a framework for crimin