Ghana: Will it Be Gifted or Will it Be Cursed?
IMF Working Papers, May 1, 2011
Source details
- Canonical URL
- Ghana: Will it Be Gifted or Will it Be Cursed?
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Bibliographic details
- Authors: Burcu Aydin
- Published: May 1, 2011
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781455260393.001
Summary and central question
- Will Ghana’s oil production from 2011 accelerate progress toward middle-income status, or will it retard gains in living standards through a possible "resource curse"?
- The paper examines the likelihood of "resource curse" effects for countries in Ghana’s income range.
Data, methods, and scope
- Dataset: 150 low and middle income countries.
- Time coverage: 1973 to 2008.
- Methods: static and dynamic panel estimation techniques.
Main findings
- Results confirm that resource rich countries in Ghana’s income range do experience slower growth than their more diversified peers.
- The observed slower growth effect appears to be related to weaker governance.
- Provided that Ghana can preserve and improve its economic governance and also strengthen fiscal management, prospects look good for converting its oil wealth into sustained strong economic growth.
Policy implications and recommendations
- Preserve and improve economic governance.
- Strengthen fiscal management.
- These measures are presented as conditions under which oil wealth could be converted into sustained strong economic growth for Ghana.
Publication and metadata
- Author: Burcu Aydin
- Publication date: May 1, 2011
- Series: Working Paper No. 2011/104
- Issue: 104
- Volume: 2011
- Pages: 41
- DOI: https://doi.org/10.5089/9781455260393.001
- Stock No: WPIEA2011104
- ISBN: 9781455260393
- ISSN: 1018-5941
Subjects and keywords
- Subject: Environment, Fiscal policy, Fiscal stance, International trade, National accounts, Natural resources, Personal income, Poverty, Terms of trade
- Keywords: Africa, coefficient estimate, Fiscal stance, Ghana, Global, growth, Middle East, Natural resources, oil wealth, panel data, panel estimation method, per capita income, Personal income, poverty trap, resource curse, resource-rich, Terms of trade, WP
Source: IMF Working Papers — Burcu Aydin. "Ghana: Will it Be Gifted or Will it Be Cursed?", May 1, 2011.
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