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Vliv přímých zahraničních investic (FDI) na strukturu a zahraniční obchod ghanské ekonomiky
Yeboah, Evans
This thesis explores the impact of foreign direct investment (FDI) on Ghana's economy and foreign trade using a multivariate time series approach. The study analyzes data from 1984-2020, employing techniques such as the Johansen coin-tegration test, Vector Error Correction Model (VECM), and Granger causality test. The results suggest that FDI has a positive relationship with the agriculture and service sectors, but a negative effect on manufacturing. In contrast, imports have a positive relationship with agriculture and service sectors, but a negative effect on manufacturing. Export has a negative effect on agriculture and service sectors, but a positive impact on manufacturing. The Johansen test shows a positive relationship between FDI and exports and a negative relationship between FDI and imports. The study also suggests that FDI and exports positively impact economic growth, while imports harm it. The VECM analysis shows a long-run interdependency among agriculture, manufacturing, services, FDI, exports, and imports. The Granger causality test reveals a unidirectional short-term relationship between agriculture and service sectors and explanatory variables (FDI, exports, and imports), but no short-term causality between manufacturing and FDI, exports, and imports. The study recommends that Ghana's government should focus on FDI and exports to boost economic growth.
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