The Determinants of Economic Growth in Ghana: New Empirical Evidence

Sin-Yu Ho and Bernard Njindan Iyke

MPRA Paper from University Library of Munich, Germany

Abstract: This paper deals with an investigation into the determinants of economic growth in Ghana over the period 1975 to 2014. In particular, we investigated the impact of physical capital, human capital, labour, government expenditure, inflation, foreign aid, foreign direct investment, financial development, globalisation and debt servicing on economic performance within an augmented Solow growth model. It was found that, in the long run, both human capital and foreign aid have a positive influence on output, while labour, financial development and debt servicing have a negative impact on output. It was also found that, in the short run, government expenditure and foreign aid have a positive influence on economic growth, while labour, inflation and financial development have a negative impact on economic growth. These findings hold important policy implications for the country.

Keywords: Determinants; economic growth; Ghana; ARDL bounds testing. (search for similar items in EconPapers)
JEL-codes: C22 O47 O55 (search for similar items in EconPapers)
Date: 2018
New Economics Papers: this item is included in nep-fdg and nep-gro
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/87123/1/MPRA_paper_87123.pdf original version (application/pdf)

Related works:
Journal Article: The Determinants of Economic Growth in Ghana: New Empirical Evidence (2020)
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:pra:mprapa:87123

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().