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Home  >  Volume 32 (Nov. 2015)

Some Prognostic Factors of Economic Growth in Ghana by Abukari Alhassan and Abdallah Abass (pages 275-280)
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Abstract

The study seeks to ascertain the effect of some prognostic macroeconomic indicators on Ghana’s Real Gross Domestic Product (GDP) per capita and its impact on economic policies. The study appliedthe ordinary least square technique to assess the degree of influence. Historical secondary data was obtained from the development indicators of the World Bank for the period spanning 1975-2013. Significant model coefficients were assessed and found to be stable for prediction (VIFs < 10). The study revealed that economic growth under the period of the study is largely explained by foreign direct investment (p < 0.05) and government expenditure (p < 0.05). It is also evident that exports, inflation and broad money supply under the period of study failed to influence economic growth. The policy recommendation among others is that policies should be put in place to increase both foreign direct investment and government expenditure in Ghana.

 Keywords: Variance Inflation Factor, Economic Growth, Macroeconomic, Foreign Direct Investment

 

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