Volume 30 Number 2, 2025

Dynamics of Macroeconomic Variables 
and Financial Supply Chain Stability: Evidence from Ghanaian Banking Sector

Joseph Yensu ^a, John Mensah ^b,*, Samuel Apenteng ^c, Seth Nkrumah ^b, Yaw Ndori Queku ^{d  
a Department of Entrepreneurship and Finance, Kumasi Technical University, Kumasi-Ghana
joseph.yensu123@gmail.com
b Department Supply Chain and Information Systems, School of Business, Kwame Nkrumah University of Science and Technology, Kumasi, Ghana
john.mensah@knust.edu.gh
nkrumahk37@gmail.com
c Department of Kuapa Kokoo Limited, Kumasi, Ghana,
samapent@gmail.com
d Department of Accounting and Finance, Cape Coast Technical University, Cape Coast, Ghana
heavydipp@gmail.com}

ABSTRACT

This study examines the influence of macroeconomic factors on the financial supply chain stability of Ghana's banking sector, where banks serve as primary financial intermediaries due to an underdeveloped capital market. Utilizing a panel data set from 2001 to 2020, the research reveals significant correlations between gross domestic product (GDP), capital adequacy, inflation, and interest rates, with a 5% level of significance. The study's longitudinal approach captures long-term trends, offering unique insights into the specific macroeconomic variables that impact financial stability in a developing economy. The findings emphasize the crucial role of banks in maintaining financial stability and provide actionable implications for policymakers and banking sector managers. This research contributes to a nuanced understanding of the interplay between macroeconomic conditions and banking sector resilience in Ghana, with broader relevance to similar developing economies.

JEL Classifications: EO1

Keywords: macroeconomic variables, banking industry, financial supply chain stability, ghana

Cite this article: 

Yensu, J., Mensah, J., Apenteng, S., Nkrumah, S., and Queku, Y. N., 2025, Dynamics of Macroeconomic Variables and Financial Supply Chain Stability: Evidence from Ghanaian Banking Sector, International Journal of Business, 30(2), 001. https://doi.org/10.55802/IJB.030(2).001