The Impact of COVID-19 Pandemic on the Incidence of Poverty, Economic Growth and Development: Evidence from Ghana

Napoleon Kurantin () and Bertha Z. Osei-Hwedie
Additional contact information
Napoleon Kurantin: Academic Division
Bertha Z. Osei-Hwedie: Ghana Institute of Management and Public Administration, School of Public Service and Governance

Chapter Chapter 6 in COVID-19 Pandemic and Global Inequality, 2023, pp 89-104 from Springer

Abstract: Abstract The chapter aims to focus on the ramifications of the Coronavirus disease (COVID-19) pandemic on Ghana’s Gross Domestic Product (GDP) since its inception in 2019. Globally, since the outbreak of the COVID-19 pandemic, countries have continued to suffer adverse economic effects translating into trillions of dollars in terms of world trade, and the distribution of global supply chain. Ghana, like other African countries, has formulated and implemented economic and social policies (fiscal and monetary) to deal with the global economic recession. Henceforth, the chapter seeks to investigate the impact of the COVID-19 pandemic on the processes of economic growth, and development relative to the incidence of poverty. Specifically, the chapter investigates the impact of the COVID-19 pandemic on the top five key sectors (agriculture, tourism, building and construction, infrastructure, and manufacturing) of the Ghanaian economy: research into the proportion of their contributions to GDP at a steady state. The chapter intends to model the effect of the COVID-19 pandemic on the processes of economic growth and development using the Discrete-time Markov Chain method and analysis within a quantitative research approach. Such an inquiry and analysis are undertaken within the prism of the Neoclassical economy model of long-run equilibrium of income within the theory of convergence. Among others, the chapter’s main goal is to contribute to the formulation of post-COVID-19 economic recovery policy/ies and processes aimed at reducing the incidence of poverty and inequality within the sub-Saharan Africa region with Ghana, as a case study.

Keywords: COVID-19; Discrete-time markov chains; Economic recession; GDP; Gini coefficient; Inequality; Neo-classical economy; Steady state (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-4405-7_6

Ordering information: This item can be ordered from
http://www.springer.com/9789819944057

DOI: 10.1007/978-981-99-4405-7_6

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().