OCCASIONAL PAPERS

May 9, 2018

Economic Shocks And Growth 
In Post-Independence Ghana, 1957 To 2017 [Occasional Paper 14]

[Occasional Paper 14] Economic Shocks And Growth 
In Post-Independence Ghana, 1957 To 2017

The study analyses economic growth based on annual changes in real gross domestic product (GDP) in Ghana during the post-independence period from 1957 to 2017 using an econometric approach involving an autoregressive modelling scheme that incorporates several economic shocks as separate independent variables. The economic shocks included in the model are world cocoa price shock, world oil price shock, weather shock due to an El Nino weather phenomenon, and political instability shock for military coups or attempted military coups. Read more full paper here
January 20, 2018

Does the 2018 Budget and Economic Policy Address the Critical Challenges Facing Ghana? [Occasional Paper 13]

[Occasional Paper 13] Does the 2018 Budget and Economic Policy Address the Critical Challenges Facing Ghana?

Ghana is currently facing three critical economic challenges, namely a slowdown of economic growth, rising unemployment, and surging public debt. The broad agenda of the government in 2018 is to guide the economy to grow and create more job opportunities to deal with the surging unemployment by reversing the abysmal performance of the agriculture sector and reviving the ailing manufacturing sub-sector. This is to be achieved by a number of flagship programs and projects. The government also plans to reduce the country’s fiscal deficit in 2018 and over the medium term to bring the public debt on a declining path to eliminate the risk of debt distress and strengthen the country’s debt sustainability. The budget appears well conceptualized, seeking to achieve a prudent compromise between fiscal consolidation and the acceleration of the country’s economic growth, rising unemployment, and unsustainable public debt. Details of some of the policies and programs, however, are yet to be revealed, making their ability to fully address the challenges difficult to establish.  
Read full paper here: Occasional No 13new
October 23, 2017

Government Expenditure Arrears in Ghana: Trends, Causes and Management [Occasional Paper 12]

[Occasional Paper 12] Government Expenditure Arrears in Ghana: Trends, Causes, and Management

Government expenditure arrears have reached a significant proportion in recent years, and their clearance has contributed to the growth in public expenditure, deficits, and debt. This paper tracks the arrears problem and examines its causes and management. Read full paper here Occasional Paper 12
August 12, 2017

Economic Analysis of Advertising in the Legal market in Ghana and Proposals for Reform [Occasional Paper 11]

Occasional Paper 11. Economic Analysis of Advertising in the Legal market in Ghana and Proposals for Reform

The law and economics framework is used to study the implication of lifting the ban on social media use in advertising in the legal market in Ghana, and how transaction costs, the information, bargaining, policing cost associated with transaction or an agency rule defines the integrity of the interactions between the two parties. Read full paper here Occasional Paper 11
June 6, 2017

Fiscal Decentralization in Ghana: Progress and Challenges [Occasional Paper 10]

Occasional paper 10. Fiscal Decentralization in Ghana: Progress and Challenges

Policy makers in Ghana have lauded the fiscal decentralization as a positive driver of substantial government growth and development. Since 1992, Ghana has made strives at implementing fiscal decentralization in Ghana. However, the implementation of the program and management of revenue at the local level has been challenging. This paper provides a general overview of decentralization in Ghana and examines local government fiscal management Read full paper here Occasional Paper 10
March 24, 2017

Fiscal Rigidities and their Effects in Ghana: What Should the Government do? [Occasional Paper 09]

Occasional Paper 9. Fiscal Rigidities and their Effects in Ghana: What Should the Government Do?

In spite of the fact that many reasons are usually used to justify the presence of fiscal rigidities, they have been found to pose serious fiscal and macroeconomic difficulties to some countries, particularly those in Latin America, since they make governments lose the discretion and flexibility to use fiscal policy to address emerging fiscal and macroeconomic challenges. Yet, fiscal rigidities have not received the needed attention in Africa in terms of research. This paper sheds light on fiscal rigidities and their fiscal and macroeconomic effects in Ghana.
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