Economics of Outdoor Recreation

Part A - Nkrumah and his Immediate Successors, 1960-72 1. Introduction 2. Development, Disequilibrium and State Interventionism 3. The Economic Strategies of Nkrumah and his Successors 4. Domestic Economic Performance in the 1960s 5. External Performance: The Foreign Exchange Constraint and its Causes 6. Planning, Saving and Economic Management 7. Modernization without Growth 8. The Unbalanced Growth of Agriculture and Industry 9. The State as Entrepreneur 10. The State as Controller 11. After Nkrumah: Interpretations of Policies, 1966-72 12. Lessons Part B - The Record since 1972 13. From Implosion to Boom, 1972-2008 14. Structural Change 1970-2008 15. Forces for Change 1983-2008

Development Economics in Action. A Study of Economic Policies in Ghana.

American Business Abroad: Six Lectures on Direct Investment.

This paper aims to survey the existing literature, both theoretical and empirical, on the relationship between monetary policy and economic growth. While there has been a wide range of studies on the existing relationship between monetary policy and economic growth, the nexus between the two remains inconclusive. This paper takes a comprehensive view of the theoretical evolution of the relationship and the respective recent empirical findings. Overall, this paper shows that the majority of findings support the relevancy of monetary policy in supporting economic growth, mainly in financially developed economies with fairly independent central banks. The relationship tends to be weaker in developing economies with structural weaknesses and underdeveloped financial markets that are weakly integrated into global markets. This paper concludes that monetary policy matters for growth both in the short-run and long-run despite the prevailing ambiguous relationship. The paper recommends intensive financial development measure for developing countries as well as structural reforms to address to supply side deficiencies.

https://www.econstor.eu/bitstream/10419/217647/1/jcbtp-2018-0015.pdf

Monetary Policy and Economic Growth: A Review of International Literature

Investigating the nexus between CO2 emissions, renewable energy consumption, FDI, exports and economic growth: evidence from BRICS countries

The article looks at the impact of macroeconomic indicators on industrial production in Ghana. The ordinary least squares estimation technique is utilized given the sample size of 21 due to the unavailability of data. The study identified real petroleum prices (-), real exchange rate (-), import of goods and services (+) and government spending (+) as the key macroeconomic factors that influence industrial production in Ghana. Based on the findings, we recommend that the government of Ghana should continue to stabilize the macroeconomic environment of Ghana in order to achieve industrial growth and development.

https://eujournal.org/index.php/esj/article/download/1895/1837

Impact of macroeconomic factors on foreign direct investment in ghana: a cointegration analysis

The aims of this study were to examine the relative importance of monetary policy and fiscal policy on economic growth in Ghana and then determine which of these two policies is more powerful in promoting economic growth in Ghana. The study period was from 1980 to 2012. The method of Ordinary Least Squares estimation technique was used in this study. The results obtained from the three multiple regressions were spurious free. The study revealed that monetary policy impacts on the Ghanaian economy positively. Also, the study found that fiscal policy affected the Ghanaian economy positively. Finally, the study revealed that monetary policy is more powerful in promoting economic growth in Ghana. The study recommends that monetary policies implemented by the Bank of Ghana should promote favorable investment atmosphere through appropriate stabilization of interest rates, lending rates, inflationary rates, and exchange rates to promote and ensure economic growth, economic stability, economic sustainability and economic development in Ghana.

The Effect of Fiscal Policy and Monetary Policy on Ghanaâ€™s Economic Growth: Which Policy Is More Potent?

The study is on Macroeconomic Determinants of Economic Growth in Ghana using cointegration approach. The main objective of this study is to examine the major macroeconomic determinants of economic growth in Ghana between the periods 1970 and 2011 applying the Johansen method of cointegration. All the variables are integrated at first order, as a result the Johansen's cointegration approach was used. The study find out that physical capital and foreign aid had a positive effect on growth in real gross domestic product per capita. In the long run, physical capital, labour force, foreign direct investment, foreign aid, consumer price index, government expenditure and military rule are the significant determinants of growth in real gross domestic product per capita in Ghana. Also, in the short run, foreign direct investment and government expenditure are significant determinants of growth in real gross domestic product per capita. The result shows that there is unilateral directional causality between labour force and physical capital, physical capital and foreign direct investment, foreign aid and physical capital, physical capital and consumer price index, physical capital and military rule, labour force and foreign direct investment, consumer price index and labour force, foreign direct investment and foreign aid. Also, there is bidirectional causality between consumer price index and foreign direct investment. Base on the findings the following policy recommendations are made: Policies should be put in place to increase physical capital and foreign aid. Educational institutions should link up with the corporate organizations to train productive larbour force. Military rule had negative impact on growth in real GDP per capita, therefore, the Government must put in place strategies to protect and sustain democratic rule in Ghana.

http://eujournal.org/index.php/esj/article/download/1549/1556

Macroeconomic determinants of economic growth in ghana: cointegration approach

This paper examined the macroeconomic determinants of inflation in Ghana using a cointegration approach. The main purpose of the paper is to investigate whether population growth, foreign direct investment, foreign aid, agricultural and service’s output have a significance influence on the inflationary situations experienced in Ghana over the study period. The method of analysis was the cointegration analysis. The stationarity properties of all the variables of interest were checked and established. All the variables under consideration were found to be integrated of order one, that is, I (1). Johansen cointegration approach showed that there is both long and short run relationship among the variables; therefore, the vector error correction model was estimated. The study identified population growth, foreign direct investment, foreign aid, and service’s output as major long run determinants of economic growth in Ghana.

https://hrmars.com/papers_submitted/993/Macroeconomic_Determinants_of_Inflation_In_Ghana_A_Co_integration_Approach1.pdf

Macroeconomic Determinants of Inflation In Ghana: A Co integration Approach

The study determines the relationship between GDP (Gross Domestic Product) growth rate and inflationary rate in Ghana from the period 1980 to 2012. The study employs the methods of scatter plot, correlation analysis and simple linear regression estimated using OLS (Ordinary Least Squares). All the three approaches proved that there is a strong negative linear relationship between GDP growth rate and inflation rate in Ghana. That is a 1% increase in inflation rate will cause GDP growth rate to decrease by 0.0864724%. However, a 1% decrease in inflation rate will cause GDP growth rate to increase by 0.0864724%. This value is statistically significant at the 5% level of significance. Therefore, policy makers should formulate and implement monetary, fiscal and physical policies that will continue to keep inflation rate downward to enhance economic growth and stability.

Patrick Enu

Papers

Impact of macroeconomic factors on foreign direct investment in ghana: a cointegration analysis

The Effect of Fiscal Policy and Monetary Policy on Ghanaâ€™s Economic Growth: Which Policy Is More Potent?

Macroeconomic determinants of economic growth in ghana: cointegration approach

Macroeconomic Determinants of Inflation In Ghana: A Co integration Approach

The relationship between gdp growth rate and inflationary rate in ghana: an elementary statistical approach