Since Ghana became a producer and exporter of oil in the late 2010, there has been strong public interest in the management of petroleum revenues accruing to the government, as it is believed that to make the revenues transformative demands their transparent and effective management. This report assess transparency and efficiency in the management of these revenues and offers recommendations to address observed shortcomings.

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September 25, 2019

Assessing management of the Ghana Petroleum Fund and Ghana National Petroleum Corporation (GNPC) Revenue [Occasional Paper No. 21]

Since Ghana became a producer and exporter of oil in the late 2010, there has been strong public interest in the management of petroleum revenues accruing to the government, as it is believed that to make the revenues transformative demands their transparent and effective management. This report assess transparency and efficiency in the management of these revenues and offers recommendations... Read more
May 24, 2019

Ghana’s Attempts at Industrialization: How Can the Country Achieve the Success It Yearns For? [Occasional Paper No. 19]

[Occasional Paper No. 19] Ghana’s Attempts at Industrialization: How Can the Country Achieve the Success It Yearns For? Since independence, Ghana has sought to extensively develop the manufacturing sector of the economy with the goal of becoming an industrialized nation, enjoying rapid and sustained economic growth and development. Yet, data reveal that the manufacturing sector has performed very poorly, leading... Read more
November 15, 2018

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[Occasional Paper 18] Ensuring Strong Broad-Based Economic Growth and Significant Reduction in Unemployment in Ghana

Having witnessed a decline in economic growth in the 1990s on average, Ghana recorded increased rates of economic growth in the 2000s. In 2011 and 2012, the economy of Ghana registered exceptionally high growth rates.

Even though this was partly due to the production of oil in commercial quantities, which began in December 2012, the traditional non-oil sector also saw very high growth rates in these years. However, starting from 2013, the growth of both the total and non-oil economies began to decline, reaching incredibly low rates from 2014 to 2016. In 2017, the economy appeared to have turned around, as it registered a strong growth rate. Nevertheless, the high growth rate in 2017 was induced by the oil sector because of the coming on stream of the Tweneboa Enyenra Ntomme (TEN) and Sankofa Gye Nyame oil fields.

The traditional non-oil sector continued to register low growth in 2017. As a consequence, unemployment, particularly among the youth, is soaring. To address this dangerous socioeconomic problem, strong broad-based economic growth is critically needed. Although the present government is pursuing a number of policy programmes to ensure broad-based economic growth, the weak and fragile fiscal position in which the country currently finds itself call for extreme care in policy formulation and implementation.

After conducting a thorough analysis of the government’s policy programmes, and based on clear analytical evidence, this paper provides recommendations to help the government fine-tune its policies so as to ensure policy effectiveness and the avoidance of complications.

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October 28, 2018

Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget [Occasional Paper 17]

 [Occasional Paper 17] Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget

Unemployment has become the most serious challenge currently confronting Ghana. Indeed, the unemployment problem has reached a crisis point, given that the rate consistently increased over the most part of the last three decades, and stood at 11.9% at the end of 2015. The overwhelming majority of the unemployed are young people, aged between 15 and 34 years. Only 10% of graduates find jobs after their national service, and available statistics show that sometimes it takes up to 10 years for a large number of graduates to secure employment. Majority of the employed are in the private sector, of which about 90% are in the informal sector. The informal sector is known for its low productivity and very low incomes. The failure of Ghana’s economy to grow at appreciable rates in order to create jobs and improve incomes and livelihoods of Ghanaians has become a major concern.  
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