ABSTRACT Urbanization is recognized as a key driver of rapid economic growth, structural transformation and poverty reduction. The enormous body of both theoretical and empirical knowledge widely supports the idea of a positive relationship between urbanization and economic growth. However, at the core of the existing debate is the causal direction. The first part of the study investigated the causal relationship between urbanization and economic growth in Sub-Saharan Africa (SSA) from the tw...
ABSTRACT The study is in two folds. It first examined the effect of land tenure security dimensions on households‘ soil improvement and subsequently explored the effect of soil improvement on maize output among smallholder farmers in the Northern Region of Ghana. The data employed for this study were obtained from the 2011 Innovation for Poverty Action survey. The endogeneous switching regression model was employed for the analyses. The study found that, households who had full land right...
ABSTRACT The ability to innovate technology represents the highest degree of development of an industrial society. However, there has not been much research focused on innovation of a firm, especially in the apparel manufacturing industries in Ghana. The purpose of this study is to investigate the determinants of innovation within the context of the apparel industry, using cross sectional data collected on fifty apparel firms selected from the Accra Metropolis in the Greater Accra region of...
ABSTRACT Ghana’s pursuit of outward-oriented trade liberalization and capital account liberalization polices since the 1980’s has the proclivity of subjecting the economy to external shocks that may affect the size of government. It is therefore imperative that the effects of external interferences within the domestic economy on government’s spending behavior are examined. In this light, this study investigate the short-run and long-run effects of trade and financial openness on governm...
ABSTRACT Most developing countries face the problem of raising tax revenue to carry out public sector spending. Tax revenue is necessary for economic growth and development. Unfortunately tax revenue generation has been low in Ghana. This study therefore examined the determinants of tax revenue with evidence from Ghana using quarterly data from 1988 to 2008. The tax effort function is used by regressing government expenditure, real gross domestic product and financial deepening on tax reven...
ABSTRACT This study empirically examines the relationship between stock market performance and economic growth in Ghana using quarterly time series data from 1991 to 2012 for four stock market performance indicators, namely; stock market capitalization ratio, stock market turnover ratio, total value traded ratio and the Ghana Stock Exchange market index with three other control variables. The study employed the Johansen and Juselius (1990) multivariate cointegration technique and vector erro...
ABSTRACT As at 2008, the much awaited oil find in Ghana had been realized, and as a natural phenomenon much attention had been shifted to the industrial sector specifically the mining segment. Till date many are attracted to the industrial sector specifically the mining segment due to its acclaimed high returns and much FDI inflow. The Ghana Statistical Service 2010 report showed that Ghana had increased its income by 60% to over US$44 billion coupled with a growth rate of 14%. However, these...
ABSTRACT The competition to attract greenfield foreign direct investment (FDI) among countries, due to its benefits, has taken the form of a reduction in the corporate tax rate globally over the decade. Aiming to determine the tax effect in attracting new investment into a country, the study focused on three objectives: the trend of corporate income tax and greenfield FDI, the effect of corporate tax rate on greenfield investment and the determinants of greenfield investment. In estimating t...
ABSTRACT The Central Bank of Nigeria (CBN) has pursued among other goals, low and stable domestic price level and output growth using various monetary policy instruments. Despite these efforts, output growth rate averaged 1.32% between 1980 and 1989 and 2.87% between 1990 and 1999. Also, the monetary authority’s inflation rate target of 5.00% in 1992 and 31.00% in 1995 escalated to 44.59% and 72.81% respectively. There has been limited attempt to investigate the channels through which mone...
ABSTRACT Nigeria‘s dependence on food and refined oil importations makes households vulnerable to price shocks of these commodities. While there is a growing body of empirical literature on the consequence of international commodity price shocks, there is little attempt to investigate their effects on households. This study, therefore, examined the effects of international price shocks to food and refined oil on household income and consumption in Nigeria. A recursive-dynamic computable ge...
ABSTRACT The study investigated the relationship between foreign direct investment and economic growth in Liberia. The Autoregressive Distributed Lag approach to cointegration was used with annual data from IMF Statistics 2009 CD ROM, WDI. Capital was disaggregated into foreign direct investment and domestic private investment for a more comparative analysis of their impacts on economic growth. Economic growth was measured by real GDP, Foreign Direct investment (FDI) was measured by Net FDI...
ABSTRACT Repeat borrowing is essential for long term financial sustainability of Microfinance Institutions (MFIs). This long term financial sustainability is threatened by high client exit, that is, premature termination of the borrowing relationship. In view of the above, the purpose of this study is to investigate the reasons for clients exit and to determine the factors that influence the length of the MFI-client borrowing relationship. A duration model (semiparametric model) is used to em...
ABSTRACT Healthcare seeking behaviour among household members often depends on the decision-making structure and headship of the household. In Nigeria, the male is assumed to be de-facto head who takes daily socio-economic household decisions that relate to financial allocations. The implication of this is a possible gender bias in the decision-making and outcomes. While gender bias has been examined within households in Nigeria generally, its incidence and influence on healthcare needs, uti...
ABSTRACT Exchange rate basically influences a currency value of an economy. As such it plays a critical role in international trade as well as economic growth and development for every economy. The study sought to investigate the impact of earnings of cocoa and non-traditional exports on real exchange rate in Ghana. Using a disaggregated data for exports, annual time series data were interpolated into quarterly series over the sample period 1990Q1 to 2011Q4. Johansen cointegration test and ...
ABSTRACT The importance of economic and political institutions to economic growth has been demonstrated in the literature. However, little is known on how such institutions impact on growth and what determine the quality of economic institutions in Africa. Therefore, this study was aimed at examining the impact of economic and political institutions on growth as well as the impact of political transition on the quality of economic institutions. Game theory was used to develop a political ec...