Threshold Effect Of Budget Deficits On Economic Growth In Ghana
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| Author | : Nana Kwame Akosah |
| Publisher | : |
| Total Pages | : 24 |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
Fiscal policies in Ghana have consistently resulted in high deficits accompanied by low and uneven economic growth path for a long period of time. In this study, the author examines the threshold effect of budget deficit on economic growth in the Ghanaian case, using quarterly data from 2000-2012. The study found an inverse long run relationship between budget deficit and economic growth, especially as the deficits have often been used to finance recurrent expenditures, suggesting that high budget deficit, driven by recurrent expenditures, slows down economic growth. In the short run, however, the author found the budget deficit to promote economic growth, but a deficit beyond the threshold level of 4% of GDP was found to be detrimental to economic growth. This result was robust and supports the West African Monetary Zone's (WAMZ) primary fiscal convergence criterion. The study therefore noted that fiscal restraint to the level below the threshold would both stimulate a sustainable economic growth and overall stability in Ghana.
| Author | : Samuel Antwi |
| Publisher | : |
| Total Pages | : 12 |
| Release | : 2015 |
| Genre | : |
| ISBN | : |
The study evaluates budget deficit sustainability of Ghana between 1960 and 2010 using the present value budget constraint approach. By applying annual time series data, the ADF and PP tests for unit root rejected the null hypothesis at 1 percent significance level after first difference. Hence, both government expenditure and revenue of Ghana are stationary and integrated of order one. The Granger causality test supported a bi-directional causation such that both expenditure and revenue of Ghana have temporal precedence over each other. This means past and present values of government revenue provide important information to forecast future values of expenditure. The test for cointegration favored the sustainability of budget deficit of Ghana at 10 percent significance level in the strong sense. In this case, government can continue to service its past accumulated deficits without large future correction to the balance of income and expenditure. Again, the study achieved the conventional negative sign of the speed of adjustment to long run equilibrium following shocks to the system at 5 percent significance level.
| Author | : Naseem Ahmad |
| Publisher | : |
| Total Pages | : 172 |
| Release | : 1970 |
| Genre | : Debts, Public |
| ISBN | : |
Monograph on deficit financing, inflation and capital formation in Ghana from 1960 to 1965 - covers the balance of payments, monetary policy, etc., and analyses the fact that economic development showed a loss of momentum in this period despite a high rate of public investment. Bibliography pp. 152 to 156 references and statistical tables.
| Author | : Vito Tanzi |
| Publisher | : CEPS |
| Total Pages | : 18 |
| Release | : 2006 |
| Genre | : Fiscal policy |
| ISBN | : 9290796510 |
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 257 |
| Release | : 2015-04-20 |
| Genre | : Business & Economics |
| ISBN | : 1498344658 |
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
| Author | : M. Ayhan Kose |
| Publisher | : World Bank Publications |
| Total Pages | : 403 |
| Release | : 2021-03-03 |
| Genre | : Business & Economics |
| ISBN | : 1464815453 |
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
| Author | : World Bank |
| Publisher | : World Bank Publications |
| Total Pages | : 403 |
| Release | : 2005 |
| Genre | : Business & Economics |
| ISBN | : 9780821360712 |
World Development Indicators was launched in 1978 to give a statistical snapshot of the progress being made on a range of economic and social development issues and the challenges remaining, both at national level and aggregated globally. The 2005 edition of this annual publication includes over 80 tables and 800 indicators for 152 economies and 14 country groups, together with basic indicators for a further 55 economies, organised under six thematic headings, including the progress made towards achieving the Millennium Development Goals. Indicators cover a wide range of topics including poverty and inequality, population and migration, gender issues, health and education, housing and urbanisation, environment and sustainable development, pollution, the economy and trade, business and investment conditions. Most of the statistics are compiled from data provided by national statistical agencies. The publication is also available in CD-ROM formats for single-users (ISBN 0821360728) and multi-users (ISBN 0821360736).
| Author | : Alfred Greiner |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 148 |
| Release | : 2009-07-24 |
| Genre | : Business & Economics |
| ISBN | : 3642017452 |
Starting point of this book is the observation that an increase in public debt must be accompanied by a rise in the primary surplus of the government to guarantee sustainability of public debt. The book first elaborates on that principle from a theoretical point of view and then tests whether empirical evidence for that rule can be found. Additional tests are implemented to gain further evidence on sustainability of public debt. In order to allow for time varying coefficients penalized spline estimations are performed. The theoretical chapters present endogenous growth models and assume that the primary surplus rises as public debt increases so that sustainability of public debt is given. Implications of public deficits and debt are studied assuming full employment and for unemployment. The conclusion summarizes the findings and compares the results of the different models. Finally, policy implications are given showing how governments should deal with high public debt to GDP ratios.
| Author | : Robert J. Barro |
| Publisher | : MIT Press |
| Total Pages | : 164 |
| Release | : 1997 |
| Genre | : Business & Economics |
| ISBN | : 9780262522540 |
Summarizes recent research from hundreds of empirical studies on economic growth across countries that have highlighted the correlation between growth and a variety of variables.
| Author | : Charles Ackah |
| Publisher | : IDRC |
| Total Pages | : 258 |
| Release | : 2012 |
| Genre | : Business & Economics |
| ISBN | : 9988647360 |
Citing a paucity of empirical evidence on the poverty and distributional impacts of trade policy reform in Ghana as the main motivation for this volume, the editors (both of the Institute of Statistical, Social and Economic Research at the U. of Ghana) present eleven papers that combine theory and econometric analysis in an effort to assess linkages between globalization, trade, and poverty (including gendered aspects). Specific topics examined include manufacturing employment and wage effects of trade liberalization; the influence of education on trade liberalization impacts on household welfare; trade liberalization and manufacturing firm productivity; the impact of elimination of trade taxes on poverty and income distribution; food prices, tax reforms, and consumer welfare under trade liberalization; impacts on tariff revenues; and impacts on cash cropping, gender, and household welfare; Distributed in the US by Stylus. Annotation ©2012 Book News, Inc., Portland, OR (booknews.com).
