Teal, FrancisHabyarimana, JamesThiam, PapaTurner, Ginger2013-03-012013-03-012006-06https://hdl.handle.net/10986/12595The focus of this study is an analysis of firm productivity in Ghana, based on panel of firms surveyed between 1996 and 2002, as well as other information. The analysis focuses on identifying the drivers of productivity and the factors behind the increasing in formalization and the lack of expansion of firms in the Ghanaian private sector. Based on this analysis, the objective is to identify key hypotheses about the investment climate, to be tested in the forthcoming investment climate assessment for Ghana. This hypothesis testing will lead to the identification of priority areas of the investment climate that need to be reformed in order to achieve a higher rate of growth in the private sector and the economy as a whole. It will be argued in this study that more rapid increases in income require an increase both in the rate of investment and, of equal importance, in the returns on that investment. A key element in meeting both those objectives is a shift to private sector investment in export-oriented activities. As recent data for Ghanaian growth shows the growth rate of aggregate investment has been far higher than that for consumption or exports.en-USCC BY 3.0 IGOACCESS TO CREDITAGRICULTURAL SELF-EMPLOYMENTAGRICULTUREAVERAGE PRODUCTIVITYAVERAGE WAGESBANK LOANBANK LOANSBANKSBARGAININGBARGAINING POWERBENCHMARKBENCHMARKINGBORROWERBORROWINGBUSINESS SUPPORTCAPITAL COSTSCAPITAL LABOR RATIOCAPITAL MARKETCAPITAL MARKETSCAPITAL STOCKCOLLATERALCOLLATERAL REQUIREMENTSCOMPETITIVENESSCONSTANT RETURNS TO SCALECORRUPTIONCOST OF CREDITCREDIT BUREAUCREDIT BUREAUSCREDIT CONSTRAINTSCREDIT INFORMATIONCREDIT MARKETCREDIT MARKETSCREDIT REGISTRYCREDIT WORTHINESSCREDIT-WORTHINESSDEBTDEMAND CURVEDEVALUATIONDRIVERSEARNINGSEMPLOYEEEMPLOYERSEMPLOYMENT GROWTHEMPLOYMENT OPPORTUNITIESENTERPRISE DEVELOPMENTEXCESS SUPPLYEXCHANGE RATEEXCHANGE RATESEXPANSIONEXPENDITUREEXPENDITURESEXPORT MARKETEXPORT-ORIENTED ACTIVITIESEXPORTSEXTERNAL FINANCINGFACTOR MARKETSFARMERFARMERSFINANCIAL INFRASTRUCTUREFINANCIAL MARKETFINANCIAL SECTORFINANCING NEEDSFINDING EMPLOYMENTFIRING COSTSFIRM GROWTHFIRM LEVELFIRM PERFORMANCEFIRM PRODUCTIVITYFIRM SIZEFIRM SIZE DISTRIBUTIONFIRM SURVEYFIRM SURVEYSFIRM-LEVEL ANALYSISFIRMSFIXED COSTSFOREIGN OWNERSHIPFORMAL CREDITFORMAL LENDINGFULL EMPLOYMENTGDPGDP DEFLATORGDP PER CAPITAGROWTH RATEHOUSEHOLD SURVEYHOUSEHOLD SURVEYSHOUSEHOLDSHUMAN CAPITALINCOMEINCREASING RETURNSINCREASING RETURNS TO SCALEINEFFICIENCYINFLATION RATEINFORMAL BORROWINGINFORMAL CREDITINFORMAL LOANSINFORMAL SECTORINFORMATION ABOUT CREDITINFORMATION TECHNOLOGYINTEREST RATEINVESTMENT DECISIONJOBSLABOR FORCELABOR MARKETLABOR MARKET FLEXIBILITYLABOR MARKET RIGIDITYLABOR MARKETSLABOR PRODUCTIVITYLABOR REGULATIONSLABOR SUPPLYLABOURLARGE ENTERPRISESLENDERMACROECONOMIC SHOCKSMICRO ENTERPRISEMINIMUM WAGEMOTIVATIONNOMINAL WAGESOCCUPATIONOCCUPATIONAL CLASSIFICATIONOPERATING COSTSOVERDRAFTPAID WORKERSPER CAPITA INCOMEPERSONAL SAVINGSPRELIMINARY RESULTSPRESENT EVIDENCEPRICE CONTROLSPRIMARY EDUCATIONPRIMARY REASONPRIVATE CREDITPRIVATE ENTERPRISEPRIVATE INVESTMENTPRIVATE SECTORPRIVATIZATIONPROBIT EQUATIONPRODUCTION FUNCTIONPRODUCTION PROCESSPRODUCTION WORKERPRODUCTION WORKERSPRODUCTIVITYPROPERTY RIGHTSPURCHASING POWERPURCHASING POWER PARITYRATES OF RETURNREAL WAGEREAL WAGESREGULATORY FRAMEWORKREGULATORY OVERSIGHTRENTSSAVINGSSAVINGS ACCOUNTSELF EMPLOYEDSELF-EMPLOYMENTSIZE OF FIRMSSKILLED LABORSKILLED WORKERSSMALL FIRMSMALL FIRMSSMALL SCALE ENTERPRISESSOURCES OF FINANCESTATE ENTERPRISESSUPPLIERSTAXATIONTOTAL FACTOR PRODUCTIVITYTOTAL LABOR FORCETRADE CREDITTRADE UNIONSTRAINING INTENSITIESUNEMPLOYEDUNEMPLOYMENTUNIONUNSKILLED WORKERSURBAN AREASWAGE DATAWAGE EMPLOYMENTWAGE GAINWAGESWORKERYOUNG WORKERSWorld Bank10.1596/12595