| Description |
1 online resource (42 pages) : illustrations |
| Series |
IMF working paper ; WP/11/104 |
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IMF working paper ; WP/11/104.
|
| Contents |
Cover Page; Title Page; Copyright Page; Contents; I. Introduction:; II. Data:; Table 1. Summary Statistics for the Common Estimation Sample; III. Are Resource-Rich Countries Cursed?; A. Introduction; Figure 1. Real Per Capita GDP Growth of Resource-Rich and Diversified economies; Table 2. Growth of Resource-Rich and Diversified LMICs 1/; B. Methodology; Figure 2. Economic Convergence versus Divergence; C. Results; Table 3. Growth Regression Results; Table 4: Estimated Growth at Different Initial Income Levels 1/; D. Robustness; IV. Impact of Macroeconomic and Structural Policies |
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A. Introduction and MethodologyB. Results; Table 5. The Impact of Macroeconomic and Structural Variables on Economic Growth; Table 6. Estimated Growth Impact of the More Richly Specified Model; V. And It is the Institutions That Matter; A. Introduction and Methodology; B. Results; Table 7. The Impact of Institutional Quality on Economic Growth; VI. What Does It Imply for Ghana?; A. Where Does Ghana Stand Within the LMIC?; Table 8. Macroeconomic Indicators for Ghana; Table 9. Governance and Fiscal Indicators for Ghana; Table 10. Structural Indicators for Ghana |
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Figure 3. Governance Indicators for GhanaB. Where Will Ghana Be in 2014; Figure 4. Decomposition of Growth for Ghana; VII. Conclusion; Appendix; A. Unit Root Test Results; Table 11. Panel Unit Root Test Result for Relative Economic Growth; Table 12. Panel Unit Root Test Result for Relative Income per Capita; Table 13. Panel Unit Root Test Result for Openness; Table 14. Panel Unit Root Test Result for REER; Table 15. Panel Unit Root Test Result for Terms of Trade; Table 16. Panel Unit Root Test Result for Fiscal Balance-to-GDP; Table 17. Panel Unit Root Test Result for Old Age Dependency |
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Table 18. Panel Unit Root Test Result for Population GrowthTable 19. Panel Unit Root Test Result for Voice and Accountability; Table 20. Panel Unit Root Test Result for Rule of Law; Table 21. Panel Unit Root Test Result for Regulatory Quality; Table 22. Panel Unit Root Test Result for Political Stability; Table 23. Panel Unit Root Test Result for Government Effectiveness; Table 24. Panel Unit Root Test Result for Control of Corruption; Table 25. Panel Unit Root Test Result for Armed Conflict; B. Correlation across Variables of Interest |
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Table 26. Pairwise Correlation across Variables of InterestVIII. Bibliography; Footnotes |
| Summary |
Will Ghanas oil production from 2011 accelerate progress toward middle-income status, or will it retard gains in living standards through a possible "resource curse"? This paper examines the likelihood of "resource curse" effects, drawing on a dataset of 150 low and middle income countries from 1973 to 2008 using static and dynamic panel estimation techniques. Results confirm that resource rich countries in Ghanas income range do experience slower growth than their more diversified peers, an effect that 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 |
| Bibliography |
Includes bibliographical references |
| Subject |
Petroleum industry and trade -- Ghana -- Econometric models
|
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Natural resources -- Econometric models
|
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Economic development -- Ghana -- Econometric models
|
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Economic development -- Econometric models
|
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Natural resources -- Econometric models
|
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Petroleum industry and trade -- Econometric models
|
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Ghana
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| Form |
Electronic book
|
| Author |
International Monetary Fund. African Department, issuing body.
|
| ISBN |
128355769X |
|
9781283557696 |
|
1462389945 |
|
9781462389940 |
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