This study represents an empirical analysis of the extent to which Chinas currency deviates from its long run equilibrium path. The research is based on a cointegrated econometric model of the exchange rate between the Chinese RMB and the American dollar. Using the econometric model, a series of long run equilibrium values for the RMB/USA rate is computed, which is then compared to its historical values in order to derive a time path for extent of disequilibrium.

The banking industry in Ghana has changed considerably since 1988 as a result of the gradual and steady implementation of financial services deregulation, globalisation and the emergence of communication and information technologies. The financial deregulation was undertaken as part of the structural economic adjustment and stabilization program launched in 1983 with the assistance of the International Monetary Fund and World Bank. These financial sector reforms are aimed at increasing banks competitiveness, efficiency and performance in Ghana's banking system that could then contribute in...