Economic Development In Ghana Research Articles

Harnessing the potential of tiger nut (Cyperus esculentus L.) for food and nutritional security, good health, and economic development of Ghana or Africa. A review

Tiger nuts (Cyperus esculentus L.) offer significant benefits for food security, health, and economic growth, particularly in Ghana and Africa. As a nutritious food source, they are rich in dietary fiber, vitamins, and minerals such as iron, potassium, and magnesium. Additionally, they contain healthy unsaturated fats and phytochemicals like flavonoids, phenolic acids, and tannins, which combat inflammation, cancer, and act as antioxidants. Beyond their health benefits, tiger nuts have economic potential. They can be processed into value-added products like milk, flour, oil, and snacks. These products find markets both locally and internationally, aiding the economies of tiger nut-producing countries. They offer an alternative sweetener and dairy substitute, beneficial for those with lactose intolerance. Tiger nuts also contribute to agricultural sustainability. Their ability to fix atmospheric nitrogen improves soil fertility and crop productivity, benefiting small-scale farmers in developing countries. This can help reduce poverty and enhance food security. Despite these advantages, further research and investment are necessary to fully understand their health impacts and optimize cultivation and processing methods. Such efforts can promote tiger nut production and consumption, particularly in poorer nations, leading to sustainable development and improved livelihoods for farmers and communities. This review aims to highlight how tiger nuts (Cyperus esculentus L.) can enhance food security, health, and economic growth in Ghana and Africa. Tiger nuts are a valuable food source with untapped potential. This review examines the nutrition, health benefits, and economic impact of tiger nuts, especially for small-scale farmers and food availability. This paper underscores the importance of further research and investment in promoting tiger nuts as a valuable resource for Ghana, Africa, and the world.

The Role of Entrepreneurship in the Economic Development of Ghana: Evidence from the Mfantseman Municipality of Ghana

The study examines the characteristics, challenges and the role of entrepreneurship in the economic development of the Mfantseman Municipality of Ghana. Descriptive research design was utilsed for the study and qestionnaire was distributed to 100 participants. The data was analyzed into descriptive statistics such as percentages and frequencies into tables and charts using Microsoft excel. The results from the study demonstrated that, majority of the entrepreneurs in the Municipality engaged in service rendering activities and have been in operation for 6-10 years. Moreover, it was revealed that entrepreneurs are faced with the challenges of limited access to finance, limited access to market, inadequate support from government, low demand, high taxes, inadequate equipment and technology and electricity power outage in their operations. Finally, it was discovered that entrepreneurs in the Mfantseman Municipality have played a tremendous role in the economic development of the municipality by creating employment avenues, reducing poverty and contributing to the GDP in the economy. The study recommended that the National Board for Small Scale Industries (NBSSI) should collaborate with the government to provide these entrepreneurs with the needed technologies and funds. The study is aimed to fill a gap in literature in the area of entrepreneurship in the economic development in Ghana.

Inclusive and resilient local economies: Building capacity for local economic development in Ghana

ABSTRACT Whereas previous research has acknowledged the significance of capacity building for development, there is little research on the capacity building typologies for local economic development (LED) actors at the local level. Adopting the community capitals framework, this study attempts to fill this gap by examining the LED capacity-building typologies and challenges in Ghana. Data for the study was collected through in-depth interviews with local government officials and LED experts in Ghana. The findings revealed six capacity building typologies and three LED capacity building challenges. This study argued that LED capacity building is an indispensable element in the development of local economies. It is recommended that these LED capacity typologies be used to develop a comprehensive LED capacity building framework.

Rural banks' financial contributions to agriculture, health, and education (AHE), and their impact on the Ghanaian economy

The rural banks have become a growing and vibrant part of the whole banking industry and the Ghanaian economy as a whole. This study sought to assess the activities of rural banks and their contribution toward the economic development of Ghana in what the researcher described as a triangular model (AHE): Agriculture, Education, and Health. The sample consisted of 339 employees including senior members from 15 rural banks. The data for the study were collected with a questionnaire. The findings revealed that rural banks had performed well as far as the triangular model (AHE) is concerned in the localities in which they have been established and the country as a whole. The study recommends that rural banks have to be carefully monitored by policymakers to yield maximum benefits to consumers.

Effects of Climate Change on Local Economic Development in Ghana, and Resilience Measures to Promote Sustainable Rural Development

Effects of Climate Change on Local Economic Development in Ghana, and Resilience Measures to Promote Sustainable Rural Development

Settlement as a determinant for community’s resilience to local economic development in Ghana

Local Economic Development (LED) is the main anchor through which economic development is achieved by building entrepreneurial capacities and improving opportunities for economic growth and citizens’ quality of life, especially in rural settlements. In Ghana, the implementation of LED is under the Ministry of Local Government, Decentralization and Rural Development (MLDGRD) through the Metropolitan, Municipal, and District Assemblies (MMDAs) at the local level. The implementation of LED contributes significantly to Ghana’s economic growth, business creation, and employment generation. LED is therefore identified as essential to sustainable development and poverty reduction in rural settlements in Ghana. However, the challenges of poor implementation of the LED policy are financial constraints to implement LED activities at the local level, performance action of Public-Private Partnership (PPP) towards LED, and limited exploration of the sanitation value chain LED efforts at the local level. The poor capacity of small-medium micro enterprises (SMMEs) and smallholder farmers have often affected the successful implementation of LED activities at the local level. Hence, this paper seeks to identify the determinants for resilience in Local Economic Development in Ghana. The paper further provides an overview of the LED challenges in Ghana. Finally, this paper recommends appropriate theoretical frameworks that integrate the determinants for the resilience of Local Economic Development to address the identified challenges of LED, leading to poverty reduction in Ghana.

Towards Circular Economy and Local Economic Development in Ghana: Insights from the Coconut Waste Value Chain

Towards Circular Economy and Local Economic Development in Ghana: Insights from the Coconut Waste Value Chain

Economic Development in Ghana and Malaysia: A Comparative Analysis, written by Samuel K. Andoh, Bernice J. deGannes Scott, and Grace Ofori-Abebrese

Economic Development in Ghana and Malaysia: A Comparative Analysis, written by Samuel K. Andoh, Bernice J. deGannes Scott, and Grace Ofori-Abebrese

The Role of Rural Banks in Micro Financing in Ghana

The role played by rural banks in micro financing is very critical for the social and economic development of Ghana. The study therefore evaluates the roles of Rural Banks in micro-financing. Adopting a descriptive research design, a sample size of 700 customers and 200 staffs from Rural Banks are conveniently selected for this study. The Ordinary least square estimator is employed to establish the effect of micro financing activities on the standard of living, savings culture and business culture. The study reveals that manufacturing business, agricultural business and service business are the major activities financed by Rural Banks. In addition, the bank provides major funding such as funds for farming, startup capital, acquisition of raw materials and business expansion. The results show positive and significant effects of micro-financing activities (manufacturing activities, agriculture activities, personal activities, trading activities and service activities) on the standard of living, savings culture, and business expansion. It also emerged that misapplication of loans, insufficient funds and high default rate affects administration of loan at Rural Banks. The study therefore recommends that rural banks actualize the fleeting activity of micro-financing in a joint effort with accomplice establishments of the SMEs. Rural Bank ought to lessen the quantity of collateral security and other qualification for access to microloans to guarantee appropriate considerations for customers applying for bank credits. Keywords : rural banks, microfinancing, financing activities, business, micro-credit, poverty DOI: 10.7176/RJFA/13-8-05 Publication date: April 30 th 2022

Tourism and Its Impact on Economic Development

The relevant nature of tourism has been clearly found in this study. Tourism is recognized as the developmental factor for an economy. The study therefore chose to conduct the effect of tourism on economic development in Ghana. The study sought to analyze the relationship between tourism and infrastructural development in Ghana. It also examined the relationship between crime rate and tourism in Ghana and analyze the trend of tourism and economic growth in Ghana. The study also focused on examining the effect of tourism on the economic growth of Ghana and finally, analyzed the effectiveness of policy on tourism in Ghana. The study adopted quantitative approach through the use of secondary data from 1990 to 2019. Research analysis used for this study was the instrumental variable and correlation. The outcome of the study suggested that infrastructure development of the economy shows a positive relationship with tourism. It was also estimated in the study that when crime is high tourism tends to be low and vice versa. On the part of the estimation, natural resource was the variable used as the instrumental variable. The outcome from controlled variables such as international trade and exchange rate was found to be positively related to economic growth and development in Ghana. Also, instrumental variable estimation showed that tourism had a positive effect on the economic growth of Ghana. The outcome of the study revealed how the sector had reduced the unemployment rate in Ghana through the provision of both direct and indirect job for its people. The sector however is now coupled with challenges such policy issues and COVID 19 as revealed by players in the sector indicates the overreliance on government. Per the outcome of the study, it was recommended that long term policy should be put in place to ensure that successive government follow to prevent the distortion of the progress of the sector. It is recommended that infrastructure development and tourism should be investigated extensively by focusing on the effect of tourism on economic growth in Ghana. Keywords : Tourism, Economic Development DOI: 10.7176/JTHS/60-03 Publication date: March 31 st 2022

FINANCIAL ASPECTS OF COVID-19 IMPACT ON THE ECONOMICS OF REPUBLIC OF GHANA

The purpose of this article is to study existing and emerging trends in financial aspects of the impact of COVID-19 on the economic development of Ghana, which have a significant impact on the national economy of the country. The article examines the costs associated with the coronavirus which have significantly contributed to the increase in government spending. The COVID-19 pandemic has significantly shifted the government's attention from standard regular infrastructure spending to a special fiscal policy that tends to revive the economy. The impact of COVID-19 on various spheres of social and economic development of the Republic of Ghana is gradually being considered. It is noted that the decline in economic activity threatens the economic well-being of citizens and business activity of institutions, organizations, enterprises of various sectors of the economy. The degree of response of state authorities to the solution of the problem related to the pandemic situation was also studied in the article.

Post-Coloniality: Projection of Ghana In Video-Films

The rise of the mainstream video industry has been significant towards socio-cultural and economic development in Ghana; however, this study will not focus on the impacts of the video industry of Ghana. This article primarily examines the image construction of Ghana in video-films. Over the past few years, videofilms in Post-colonial Ghana have often been critiqued by film scholars and critics for reinforcing superstitious beliefs and instigating backward tendencies that derail national development. Normative scholarships have critically explored the visuality of Ghanaian video-films and their themes. Nonetheless, these normative scholarships have often overlooked the nexus between the Ghanaian society and video texts. It is against this scholarly gap that this study engages the meta-question of how video-films project Ghana in their texts. This article will engage a critical textual reading of a few popular films from the Pentecostal and Occult genres to contextualize the ideological sub-texts and the image construction of Ghana in these selected video-films. I argue that major ‘postmodern’ thematic concerns in Ghanaian video-films considerably denigrate and malign Ghana’s image, as well as neglect issues of national interests.

Economic Development in Ghana and Malaysia: A Comparative Analysis by Samuel K. Andoh, Bernice J. deGannes Scott and Grace Ofori-Abebrese

Economic Development in Ghana and Malaysia: A Comparative Analysis by Samuel K. Andoh, Bernice J. deGannes Scott and Grace Ofori-Abebrese

Incomplete Fiscal Decentralisation: An Impediment for Local Economic Development in Ghana

For the past three decades Ghana’s democratic decentralisation policy has sought in vein to establish a local government system capable of pursuing Local Economic Development (LED). One of the major impediments has been the insincere implementation of fiscal decentralisation for the local government to provide the enabling environment for LED. This paper employed primary and secondary data from the Wassa East District Assembly (WEDA) to assess the progress so far in Ghana’s fiscal decentralisation and its effect on LED. The paper highlights the potential benefits of LED and the incapacitation of the District Assembly by the Central government for LED financing. The paper again reveals the effects of the constraints of fiscal decentralisation on LED at the local government level and makes policy recommendations towards effective fiscal decentralisation for improvement in LED.

Leadership and Economic Development of Ghana

The relationship on leadership quality and its impact on skewed economic development in Ghana have been investigated. This investigation has been carried out in Ghana and its neighbouring countries that attained independence around the same time, under similar pattern of political governance. A comparative analysis is used to differentiate between these countries economic policies and their leadership styles used. It reveals that Ghana remains static and underdeveloped for many years despite changes in leadership and political governance. Evidently, while at the time of their independence, Ghana’s per capital income in 1960 was higher than Nigeria, India and Egypt. Ghana’s development has been sluggish whilst the rest of the countries have accelerated at a faster rate with fantastic economic policies combined with good leadership skills.

Specialization in Primary Products, Industrialization and Economic Development of Ghana

This paper examines whether Ghana's continuing reliance on primary products has contributed to its economic growth and such economic growth would be sustained in the long run. It shows that Ghana's economic growth since the 1990s can be attributed to a series of fortunes and heavy reliance on a few primary products will not lead to a sustainable development. The experience of Ghana provides important policy implications. Structural reforms, such as a well-designed industrial policy, would be needed for the long run economic development. For Ghana, industrialization did not progress since the 1980s. The infrastructure could not support the manufacturing development and the tertiary level education is not appropriate, particularly in science and engineering. Focusing on selected industrial estates would be meaningful in light of the limited resources. It is needed to prepare a stable supply of electricity and to reduce an exchange rate volatility. A modification of tariff structure depending on the stages of processing and an active utilization of export incentive schemes would be helpful. The government is to pay attention to a further development of the agro-processing industry, textiles and garments industry, aluminum production and the petrochemical industry.

The nexus between FDI inflows and economic development in Ghana: empirical analysis from ARDL model

The nexus between FDI inflows and economic development in Ghana: empirical analysis from ARDL model

Analysis on the Contribution of Agricultural Sector on the Economic Development of Ghana

The study empirically examines the impact of agricultural sector on the economic GDP growth of Ghana, using time series data from 1984 to 2018. The cointegration test results showed the non-existence of long-run relationships existing between the overall GDP and agricultural output. In its set-up, the error correction method estimates the long-run relationship between economic growth and agricultural output as well as fluctuation in the short-run. Based on the basic regression model, agricultural output exhibits a significantly positive impact on the overall GDP growth of the country. Similarly, the industrial and service sector also contributed positively to overall GDP growth. The results indicate the need to promote value added agricultural export expansion policies to achieve high economic GDP growth.

The nexus between FDI inflows and economic development in Ghana: empirical analysis from ARDL model

This study examined FDI and economic progress in Ghana. Using annualised time series data obtained from the World Bank over a period from 1984 to 2018, an ARDL approach was implemented. Our findings show that external factors affirm positive impact on FDI attraction and economic development. Specifically, inflation and population have a long and short run substantial impact on attraction of FDI into Ghana. Similarly, at the micro level, financial expansion in the financial sector exerts long- and short-term substantial positive effect on FDI attraction. A 1% rise in FDI inflow and population would result in 234% and 200% economic expansion in the long run. Financial development in the private sector, however, exerts a considerable effect in the short run. This implies a weak resilience against shock for FDI in the private sector. Overall, our model confirms FDI-led economic expansion in Ghana in the long-run. To sustain this, recommendation is policymakers should reduce total control and involvement in the markets by allowing and empowering private sector expansion.

Christian faith and economic development : a case study of some Christian workers in Ghana’s public sector in Kumasi

This study assessed Christian faith in relation to economic development of Ghana using some Christian Workers in Ghana's public sector in Kumasi as a sampled case study. Sectors studied were the judicial service, the public education sector, the health and the police services. Christian faith used in the study referred to normative values that would inform activities of individual Christian workers in the public sector economy. Consequently, the framework of the study is obtained from New Institutional Economics that is employed for the analysis of the relationship between values and economic performance. The data came via unstructured individual and group interviews, supplemented by observation and related literature. The study has shown that apart from a few who actually translated their faith into productive lives, majority of Christians in the unit of analysis have participated one way or other in corrupt practices that to a large extent, undermined the economic development of Ghana.