Navigating prosperity: the impact of seaport efficiency on economic growth in Ghana’s maritime landscape

Joseph Antwi Baafi

Marine Economics and Management, 2024, vol. 7, issue 1, 18-41

Abstract: Purpose - This study aims to investigate the impact of seaport efficiency on economic growth in Ghana over the period 2006–2020. Design/methodology/approach - Comprehensive methodology, diverse data analysis techniques, including Augmented Dickey–Fuller tests, autoregressive distributed lag (ARDL) modeling and Granger Causality, were applied to explore the intricate relationship between Seaport Efficiency and Economic Growth. Findings - The findings reveal a statistically significant and positive association between seaport efficiency and GDP, underscoring the crucial role of efficient seaport operations in actively stimulating economic growth. Beyond seaport efficiency, influential factors such as capital, human capital, knowledge spillover and productive capacities were identified, contributing to the dynamics of economic growth. Research limitations/implications - The Granger Causality Test solidifies seaport efficiency as a robust predictor of GDP fluctuations, emphasizing its significance in economic forecasting. Notably, this study contributes to the existing body of knowledge with its nuanced exploration of the intricate relationship between seaport efficiency and economic growth in the specific context of Ghana. Practical implications - This study’s implications extend beyond academia, offering invaluable guidance for policymakers and planners. It serves as a comprehensive roadmap for informed decision-making, emphasizing the pivotal role of efficient seaports in charting a trajectory for enduring and resilient economic progress in the nation. Originality/value - While the broader theme has been explored in existing literature, the uniqueness of this study lies in its specific application to the Ghanaian context. The choice of Ghana, a nation where maritime transport handles over 90% of trade, underscores the significance of understanding seaport efficiency in this regional and economic setting. The study’s originality is reinforced by incorporating diverse economic variables, aligning with recommendations for a comprehensive analysis of factors influencing port performance.

Keywords: Seaport efficiency; Economic growth; ARDL modeling; Ghana; Maritime sector; Granger causality test (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:maempp:maem-12-2023-0011

DOI: 10.1108/MAEM-12-2023-0011

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