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May 15, 2015
Occasional Paper 2. Ghana’s 2015-17 IMF Program Ghana’s medium-term development prospects have been put at risk after two decades of strong and broadly inclusive growth, due to large fiscal and external imbalances in recent years which have led to a slowdown of economic growth. To address these imbalances and safeguard the bright medium term prospects of the economy, the government embarked on its homegrown economic and financial program, but policy slippages, exogenous shocks, rising interest costs, and acute power shortages undermined the effort. Click here to read full report
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May 9, 2018
[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
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October 23, 2018
Policy Brief 6. Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget The Ghanaian economy has maintained virtually its “colonial structure” 60 years after independence as it still depends largely on cocoa, gold, timber and recently oil as the country’s main export commodities. Exported in raw and unprocessed form, these commodities fetch low prices on international markets where Ghana is a price taker, rendering the economy vulnerable to terms-of-trade shocks. The agriculture sector’s contribution to total output has been falling due to declining productivity. The manufacturing base of the economy has also […]
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October 28, 2018
[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 […]
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January 16, 2019
[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 […]
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May 24, 2019
[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 to the failure of the country’s industrialization attempts despite strong policy attention paid to the sector. Economic fundamentals such as high fiscal deficits, macroeconomic instability, shortage of foreign currency, inadequate raw materials to feed the manufacturing industries, etc. have commonly […]
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