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Is inflation in Ghana a monetary phenomenon?
Addo, Grace Naa Kalei
ABSTRACT Inflation is a problematic macroeconomic factor that affects most economies, in-cluding Ghana. Inconsistent policies have made it difficult for policymakers to achieve target inflation rates, leading to negative impacts on living standards. Infla-tion is a key indicator of a country's economic performance, and Ghana has been severely impacted by excessive inflation. The aim of the research was to develop more accurate models for predicting inflation in Ghana by assessing various econ-ometric techniques and identifying key macroeconomic signs. Multiple Regression Analysis and Walk-through analysis were applied to secondary data obtained from Ghana to make inflation predictions. The findings revealed an inverse relationship between GDP growth and inflation over the long term, but a direct relationship in the short term. Government expenditure had a negative influence on inflation in the short term but a positive impact over the long term. Neither broad money growth nor real effective exchange rate had a significant impact on inflation. The study also revealed a substantial upward trend in broad money and significant influencing fac-tors in the BOG policy rate, inflation rate, and GDP growth rate. The real effective exchange rate and government expenditure had no significant influencing factors.
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The impact of foreign direct investments on economic growth: the case of Ghana
Tetteh, Mavis
This thesis seeks to investigates the effects of FDI on the Ghana’s gross domestic product advancement. The study applied the Autoregressive Distributed Lag (ARDL) model using data from the World Bank from 1990 to 2021. The Johansen cointegration test indicated a prolong persistent association between the variables. The Collinearity test using the BKW indicates no existence of perfect combination of the explanatory variables. However, the empirical findings displayed that in the long run FDI had no significant effect on the GDP expansion in Ghana whereas there was a positive short-term influence. The study entreats the government and GIPC to continue to strengthen the measures that help to attract FDIs to Ghana and focus on creating a enabling environment for these investments to strive and yield positive economic growth impact in the long run as well.
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The influence of crude oil price fluctuations on macroeconomic stability in Nigeria
Onome, Nelson
The primary aim of this study is to evaluate the influence of crude oil price fluctuations on macroeconomic stability in Nigeria. The paramount importance of oil in the economic landscape of Nigeria cannot be overstated. Although numerous researchers have conducted studies on the correlation between oil prices and various macroeconomic variables, their outcomes have proven to be debatable and limited to specific countries. The current study's literature review and methodology serve to elucidate these perspectives. Secondary time series data was employed in an Autoregressive distributed Lag Model analysis. Our study revealed that variations in oil prices exert a considerable impact on Nigeria's actual Gross Domestic Product (GDP), unemployment rates, and rates of inflation. Adverse perturbations in the global petroleum market bear noteworthy ramifications on price undulations. The Nigerian economy is characterized by a marked increase in imports, which has unavoidably led to the amplification of inflationary pressures. A noteworthy reduction has been observed in government revenues and expenditures. It is advised that to attain sustainable development in Nigeria, a diversification of the economy and energy sources be pursued. The findings of this study also indicate that unstable oil prices have diverse degrees of detrimental impact on exchange rate fluctuation, inflation, unemployment, and real GDP. Based on the empirical evidence obtained from the conducted study, it is our scholarly recommendation that the nation ought to diversify its income streams. This would serve to mitigate the impact of perturbations in oil prices on the vulnerability of economic conditions. The reduction in undulating oil prices has highlighted the need for Nigeria's economy to explore alternative sources of revenue to minimize the over-reliance on crude oil exports. Avenues of focus for serious policy implementation include the reformation of the agricultural sector, industrial policy strategies, as well as critical investments in mining and mineral development. Such diversification endeavors can potentially drive the nation's economic growth trajectory in the long term. The implementation of this approach is anticipated to facilitate the attainment of sustainable growth and development in Nigeria.
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Comparison of inflation rates between Czech Republic and Slovakia
Kratochvíl, Jaromír
The bachelor thesis deals with the main inflationary factors of Czech Republic and Slovakia and their influence on inflation. It is focused on analysis of the time series macroeconomic quarterly data from the first quarter 2000 to the third quarter 2014 using GRETL software. Inflationary factors were selected using other papers and Autoregressive Distributed Lag Models were created. The results prove that, the most significant long-term factors are exchange rate and nominal wage in both models. The results form the basis for discussion.
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