Understanding Economic Growth in Ghana in Comparative Perspective

Ghana has experienced a decade of solid and exceptionally high growth. Between 2005 and 2015, income nearly doubled. This paper analyzes the factors driving this impressive growth performance, using tools such as structural change decompositions an...

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Main Authors:	Geiger, Michael, Trenczek, Jan, Wacker, Konstantin M.
Format:	Working Paper
Language:	English
Published:	World Bank, Washington, DC 2019
Subjects:	ECONOMIC GROWTH GROWTH DRIVERS STRUCTURAL TRANSFORMATION PRODUCTIVITY GROWTH STABILIZATION POLICY INFRASTRUCTURE INVESTMENT
Online Access:	http://documents.worldbank.org/curated/en/144891547137796751/Understanding-Economic-Growth-in-Ghana-in-Comparative-Perspective http://hdl.handle.net/10986/31166

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recordtype	oai_dc
spelling	okr-10986-311662022-09-17T12:16:54Z Understanding Economic Growth in Ghana in Comparative Perspective Geiger, Michael Trenczek, Jan Wacker, Konstantin M. ECONOMIC GROWTH GROWTH DRIVERS STRUCTURAL TRANSFORMATION PRODUCTIVITY GROWTH STABILIZATION POLICY INFRASTRUCTURE INVESTMENT Ghana has experienced a decade of solid and exceptionally high growth. Between 2005 and 2015, income nearly doubled. This paper analyzes the factors driving this impressive growth performance, using tools such as structural change decompositions and growth regressions. For the comparative perspective, the paper compares Ghana with its structural and aspirational peers. The paper finds that the contribution of structural change to growth has been limited and attributes this to labor that was freed up in agriculture not being absorbed by high-productivity sectors. Looking at factors that drove growth since 2000, financial development and infrastructure had the most important impacts. A benchmark analysis suggests that those areas should remain the policy focus over the longer term, but that near-term priority should be given to stabilization policies. 2019-01-31T18:15:30Z 2019-01-31T18:15:30Z 2019-01 Working Paper http://documents.worldbank.org/curated/en/144891547137796751/Understanding-Economic-Growth-in-Ghana-in-Comparative-Perspective http://hdl.handle.net/10986/31166 English Policy Research Working Paper;No. 8699 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Africa Ghana
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ECONOMIC GROWTH GROWTH DRIVERS STRUCTURAL TRANSFORMATION PRODUCTIVITY GROWTH STABILIZATION POLICY INFRASTRUCTURE INVESTMENT
spellingShingle	ECONOMIC GROWTH GROWTH DRIVERS STRUCTURAL TRANSFORMATION PRODUCTIVITY GROWTH STABILIZATION POLICY INFRASTRUCTURE INVESTMENT Geiger, Michael Trenczek, Jan Wacker, Konstantin M. Understanding Economic Growth in Ghana in Comparative Perspective
geographic_facet	Africa Ghana
relation	Policy Research Working Paper;No. 8699
description	Ghana has experienced a decade of solid and exceptionally high growth. Between 2005 and 2015, income nearly doubled. This paper analyzes the factors driving this impressive growth performance, using tools such as structural change decompositions and growth regressions. For the comparative perspective, the paper compares Ghana with its structural and aspirational peers. The paper finds that the contribution of structural change to growth has been limited and attributes this to labor that was freed up in agriculture not being absorbed by high-productivity sectors. Looking at factors that drove growth since 2000, financial development and infrastructure had the most important impacts. A benchmark analysis suggests that those areas should remain the policy focus over the longer term, but that near-term priority should be given to stabilization policies.
format	Working Paper
author	Geiger, Michael Trenczek, Jan Wacker, Konstantin M.
author_facet	Geiger, Michael Trenczek, Jan Wacker, Konstantin M.
author_sort	Geiger, Michael
title	Understanding Economic Growth in Ghana in Comparative Perspective
title_short	Understanding Economic Growth in Ghana in Comparative Perspective
title_full	Understanding Economic Growth in Ghana in Comparative Perspective
title_fullStr	Understanding Economic Growth in Ghana in Comparative Perspective
title_full_unstemmed	Understanding Economic Growth in Ghana in Comparative Perspective
title_sort	understanding economic growth in ghana in comparative perspective
publisher	World Bank, Washington, DC
publishDate	2019
url	http://documents.worldbank.org/curated/en/144891547137796751/Understanding-Economic-Growth-in-Ghana-in-Comparative-Perspective http://hdl.handle.net/10986/31166
_version_	1764473694017552384

Understanding Economic Growth in Ghana in Comparative Perspective

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