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Ghana's Economic Growth in Perspective: A time series approach to Convergence and Determinants
Södertörn University College, School of Social Sciences.
2010 (English)Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

Economic growth around the world has not been equal for a long time. Some economics grow faster while others grow slower. But economists have predicted that the slower growing economics will eventually converge with the faster growing economy as some point in the future. This is known as the convergence hypothesis. In this study, we test this hypothesis for Ghana and the Western Europeans countries with UK been a proxy for these countries, using time series data to determine whether or not it holds. We determine how fast or slow this convergence process is by using the returns to scale concept on Ghana’s economy and latter account for factor that determines economic growth in sectors. The study supported the null hypothesis of convergence i.e. Ghana is catching up with the Western European countries. The study also shown that Ghana growth accounting exhibit decreasing returns meaning convergence is relatively slow and also signifies that Ghana is not on a balanced growth path (this refers to the simultaneous, coordinated expansion of several sectors of the economy). The study showed a negative relationship between GDP and labour both in the long run and short run relationship. Again the study showed a positive relationship between GDP and capital, Agric and Industrial sector. Lastly, the study showed a negative relationship between GDP and AID and Service in the long run and positive relationship in the short run.

Place, publisher, year, edition, pages
2010. , 72 p.
Keyword [en]
Convergence, Economic Growth, time series
National Category
Economics
Identifiers
URN: urn:nbn:se:sh:diva-3643OAI: oai:DiVA.org:sh-3643DiVA: diva2:326555
Uppsok
Humanities, Theology
Supervisors
Examiners
Available from: 2010-06-23 Created: 2010-06-23 Last updated: 2010-06-23Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf