On the Road to Economic Prosperity

Tuan Anh Luong and Zenas Azuma

in Cambridge Books from Cambridge University Press

Abstract: This Element investigates how the Ghanaian household wealth index is impacted by travel time reduction, which is a direct effect of infrastructural investments from 2000 to 2016. The wealth index is constructed based on the possession of selected assets and reflects the well-being of residents in Ghana. The Element employs two datasets, the Demographic and Health Survey (DHS) and the DHS Covariates. The two-stage least square estimation is implemented to establish the causal relationship. The Element ï¬ nds that a ten percent reduction in travel time from 2000 to 2015 would result in a 1.2 percent increase in the wealth index from 2003 to 2016. This ï¬ nding is robust to various settings, including the addition of more control variables, the use of different instrumental variables, and the study of both short-term and long-term effects. The analysis lends support to the Ghanaian government's current economic and infrastructure development plans.

Date: 2022
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