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This paper aims to reexamine the relationship between financial openness and financial development in Ghana.

The study applied maximum likelihood estimation and autoregressive distributed lag approach and tested Granger causality using quarterly data from 1990:1 to 2020:4.

This study revealed a long-run equilibrium relationship between financial openness and development, indicating that financial openness is a critical factor in Ghana’s financial development. Therefore, the study recommends with caution that policies aimed at promoting financial openness could be an effective way to encourage sustainable financial development in Ghana, as financial openness alone may not bring the desired outcome.

The study contributes to the existing body of knowledge by providing empirical evidence of the link between financial openness and financial sector development in Ghana. Future research could delve deeper into the mechanisms through which financial openness affects financial development, exploring potential channels and transmission mechanisms.

The findings suggest that policymakers, particularly the Ministry of Finance and the Bank of Ghana, should prioritize policies aimed at promoting financial openness. This includes continued efforts toward financial liberalization and creating an environment conducive to domestic and international financial transactions. Moreover, policies aimed at increasing trade openness, boosting real GDP and maintaining moderate real interest rates are essential for fostering financial sector development.

Enhancing financial sector development can have significant implications for society, including increased access to financial services, improved economic opportunities and enhanced overall economic stability. By promoting financial openness and development, policymakers would contribute to poverty reduction, job creation and overall socio-economic development. The study bridges the gap between theory and practice by providing empirical evidence supporting the theoretical proposition that financial openness stimulates financial sector development.

This study fills a crucial gap in the literature on the effects of financial openness on Ghana’s financial sector development. It focuses on Ghana, which liberalized its financial sector in 1988 as part of the overall economic reforms in 1983, and this justifies the starting point of this paper in 1990, as there are no adequate data before 1990. The study uses principal component analysis to construct an index that measures financial development. The study considers the recent financial crises in Ghana in 2017 and underscores the importance of understanding the link between financial openness and financial development, which becomes useful for policymakers and researchers studying financial system development in sub-Saharan Africa which includes Ghana.

The purpose of this study is to explore the potential contribution of the metaverse to improve training and development as a function of human resource development (HRD) perspective. The authors explore the benefits and challenges of the metaverse and introduce cases of companies using the metaverse in training.

A narrative literature review was conducted to collect information on the metaverse in training. The authors reviewed peer- and non-peer-reviewed articles, book chapters, white papers, corporate websites and blogs and business magazines.

A total of 75 articles were reviewed, including 14 cases, which were summarized to demonstrate how companies are applying metaverse technology in training contexts. For a more in-depth review, three cases were selected and summarized in terms of context, process and outcomes.

The metaverse is an emergent topic in HRD. It has the potential to revolutionize the functions of training and development through the combination of advanced technologies, including virtual reality, augmented reality and mixed reality. This article is the foundational attempt to provide a comprehensive summary of existing literature and case studies that highlight the potential of the metaverse in training within the context of HRD.