Abstract
The importance of export promotion contribution to the growth of a country’s economy cannot be underrated. It is well-established that, encouraging volumes of exports and/or value of exports results in the increase in the export of a country leading to an increase in earnings of foreign exchange and further results in economic boost of a country. A comparative analysis of effective Free Trade Zone Policies in Ghana using China (Shanghai) Pilot Free Trade Zone (“SHFTZ”) as a model has been done. Desktop research was used to analyze the data. It was found that there has been year on year increase in the number of companies registering with the Ghana free zones. On the average, there have been about 15% contribution to the gross export of Ghana. The China (Shanghai) Pilot Free Trade Zone (“SHFTZ”) contributed 5.68%, 13.2%, 15.2% and 22.9% from the first quarter after the inception of the FTZ, at the end of 2014, 2015 and 2016 respectively to the GDP of Shanghai.
Highlights
One strategy to achieve a good economic performance is to increase export
It was found that there has been year on year increase in the number of companies registering with the Ghana free zones
This paper will do a comparative analysis of effective Free Trade Zone Policies in Ghana using China (Shanghai) Pilot Free Trade Zone (“SHFTZ”) as a model
Summary
One strategy to achieve a good economic performance is to increase export. Free Zones has been identified and been used vigorously as an export support strategy [1]. Economic experiments are carried out in these zones with infrastructure, regulatory, and fiscal policies, which differ from policies implemented in the remaining domestic economy, with the sole objective of employment creation boost in export and attraction of foreign direct investment [8]. Zones with these characteristics are given diverse names by different countries. This paper will do a comparative analysis of effective Free Trade Zone Policies in Ghana using China (Shanghai) Pilot Free Trade Zone (“SHFTZ”) as a model
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