Navigating prosperity: the impact of seaport efficiency on economic growth in Ghana’s maritime landscape

Abstract

PurposeThis study aims to investigate the impact of seaport efficiency on economic growth in Ghana over the period 2006–2020.Design/methodology/approachComprehensive methodology, diverse data analysis techniques, including Augmented Dickey–Fuller tests, autoregressive distributed lag (ARDL) modeling and Granger Causality, were applied to explore the intricate relationship between Seaport Efficiency and Economic Growth.FindingsThe findings reveal a statistically significant and positive association between seaport efficiency and GDP, underscoring the crucial role of efficient seaport operations in actively stimulating economic growth. Beyond seaport efficiency, influential factors such as capital, human capital, knowledge spillover and productive capacities were identified, contributing to the dynamics of economic growth.Research limitations/implicationsThe Granger Causality Test solidifies seaport efficiency as a robust predictor of GDP fluctuations, emphasizing its significance in economic forecasting. Notably, this study contributes to the existing body of knowledge with its nuanced exploration of the intricate relationship between seaport efficiency and economic growth in the specific context of Ghana.Practical implicationsThis study’s implications extend beyond academia, offering invaluable guidance for policymakers and planners. It serves as a comprehensive roadmap for informed decision-making, emphasizing the pivotal role of efficient seaports in charting a trajectory for enduring and resilient economic progress in the nation.Originality/valueWhile the broader theme has been explored in existing literature, the uniqueness of this study lies in its specific application to the Ghanaian context. The choice of Ghana, a nation where maritime transport handles over 90% of trade, underscores the significance of understanding seaport efficiency in this regional and economic setting. The study’s originality is reinforced by incorporating diverse economic variables, aligning with recommendations for a comprehensive analysis of factors influencing port performance.