Economic Growth in Ghana : Determinants and Prospect

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collection.link.5
https://openknowledge.worldbank.org/handle/10986/9
collection.name.5
Policy Research Working Papers
dc.contributor.author
Raggl, Anna K.
dc.date.accessioned
2014-02-03T20:58:00Z
dc.date.available
2014-02-03T20:58:00Z
dc.date.issued
2014-01
dc.date.lastModified
2017-12-14T08:48:24Z
dc.description.abstract
This paper employs a simple cross-country panel framework to assess the determinants of growth in Ghana's gross domestic product over the past four decades. A set of standard covariates is used to explain growth rates. Natural resource variables are included because the effects of natural resource rents in gross domestic products are of particular interest for Ghana. Using the preferred specification, Ghana's growth potential is predicted for the upcoming decades under different scenarios. The results indicate that under the most pessimistic scenario of no improvements in the determinants of growth compared with the period 2005-09, Ghana's gross domestic product per capita growth rates will stagnate at approximately 4.5 percent during the next decade and decrease thereafter. If the policy measures and country characteristics improve in the way they did in the past three decades, average per capita growth rates of roughly 5.5 percent could be reached during 2015-34. Taking into account the expected oil production until 2034 adds 0.6 percentage points to projected gross domestic product growth rates on average.
en
dc.identifier
http://documents.worldbank.org/curated/en/2014/01/18832579/economic-growth-ghana-determinants-prospect
dc.identifier.uri
http://hdl.handle.net/10986/16828
dc.language
English
dc.language.iso
en_US
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
Policy Research Working Paper;No. 6750
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
AGGREGATE MEASURE
dc.subject
AVERAGE GROWTH
dc.subject
AVERAGE GROWTH RATE
dc.subject
AVERAGE SHARE
dc.subject
CAPITAL VARIABLE
dc.subject
COAL
dc.subject
COMPETITIVENESS
dc.subject
CONVERGENCE EFFECTS
dc.subject
COUNTRY CHARACTERISTICS
dc.subject
COUNTRY EFFECTS
dc.subject
COUNTRY SIZE
dc.subject
COUNTRY SPECIFIC
dc.subject
CROSS COUNTRY
dc.subject
CROSS-COUNTRY PANEL
dc.subject
DATA AVAILABILITY
dc.subject
DEMOCRACY
dc.subject
DEPENDENT VARIABLE
dc.subject
DEVELOPMENT INDICATORS
dc.subject
DEVELOPMENT POLICY
dc.subject
DEVELOPMENT RESEARCH
dc.subject
DOMESTIC PRODUCTS
dc.subject
DRIVERS
dc.subject
ECONOMIC DEVELOPMENT
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC LITERATURE
dc.subject
ECONOMIC OUTLOOK
dc.subject
ECONOMICS
dc.subject
EDUCATIONAL ATTAINMENT
dc.subject
EMPIRICAL ANALYSIS
dc.subject
ERROR TERM
dc.subject
EXPLANATORY POWER
dc.subject
EXPLANATORY VARIABLES
dc.subject
EXPORTS
dc.subject
FIXED EFFECTS
dc.subject
FORECASTS
dc.subject
GDP
dc.subject
GDP PER CAPITA
dc.subject
GOVERNMENT EXPENDITURES
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
GROSS DOMESTIC PRODUCT GROWTH
dc.subject
GROSS DOMESTIC PRODUCT PER CAPITA
dc.subject
GROWTH MODELS
dc.subject
GROWTH PERFORMANCE
dc.subject
GROWTH POTENTIAL
dc.subject
GROWTH RATE
dc.subject
GROWTH RATES
dc.subject
GROWTH REGRESSION
dc.subject
GROWTH REGRESSIONS
dc.subject
HUMAN CAPITAL
dc.subject
INCOME
dc.subject
INCOME GROWTH
dc.subject
INCOME LEVEL
dc.subject
INCOME LEVELS
dc.subject
INCREASE GROWTH
dc.subject
INFLATION
dc.subject
INFLATION RATES
dc.subject
INTERNATIONAL COMPARISONS
dc.subject
INTERNATIONAL OPENNESS
dc.subject
LINEAR RELATIONSHIP
dc.subject
LONG RUN
dc.subject
NATURAL CAPITAL
dc.subject
NATURAL LOGARITHM
dc.subject
NATURAL RESOURCES
dc.subject
NEGATIVE IMPACT
dc.subject
OIL
dc.subject
OIL PRICES
dc.subject
OIL PRODUCTION
dc.subject
OUTPUT GROWTH
dc.subject
PANEL FRAMEWORK
dc.subject
PER CAPITA GROWTH
dc.subject
PER CAPITA GROWTH RATE
dc.subject
POLICY DISCUSSIONS
dc.subject
POLICY MAKERS
dc.subject
POLICY MEASURES
dc.subject
POLICY RESEARCH
dc.subject
POLITICAL DEMOCRACY
dc.subject
POLITICAL STABILITY
dc.subject
POPULATION RESEARCH
dc.subject
POSITIVE CORRELATION
dc.subject
POSITIVE IMPACT
dc.subject
POSITIVE RELATIONSHIP
dc.subject
POVERTY RATES
dc.subject
POVERTY REDUCTION
dc.subject
PREDICTED GROWTH
dc.subject
PUBLIC SERVICE
dc.subject
REAL GDP
dc.subject
REGRESSION ANALYSIS
dc.subject
RELATIVE IMPORTANCE
dc.subject
RENTS
dc.subject
SERVANTS
dc.subject
SIGNIFICANT IMPACT
dc.subject
TIMBER
dc.subject
TRADE OPENNESS
dc.subject
WEALTH
dc.title
Economic Growth in Ghana : Determinants and Prospect
en
okr.crosscuttingsolutionarea
Jobs
okr.date.disclosure
2014-01-01
okr.doctype
Publications & Research :: Policy Research Working Paper
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/2014/01/18832579/economic-growth-ghana-determinants-prospect
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Social Protection and Labor
okr.globalpractice
Poverty
okr.globalpractice
Environment and Natural Resources
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/1813-9450-6750
okr.identifier.externaldocumentum
000158349_20140122092822
okr.identifier.internaldocumentum
18832579
okr.identifier.report
WPS6750
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/01/22/000158349_20140122092822/Rendered/PDF/WPS6750.pdf
en
okr.region.administrative
Africa
okr.region.country
Ghana
okr.topic
Environmental Economics and Policies
okr.topic
Poverty Reduction :: Achieving Shared Growth
okr.topic
Poverty Reduction :: Inequality
okr.topic
Social Protections and Labor :: Labor Policies
okr.topic
Economic Theory and Research
okr.topic
Environment
okr.topic
Macroeconomics and Economic Growth
okr.unit
Poverty Reduction and Economic Management Department, Africa Region
okr.volume
1 of 1

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