Understanding Economic Growth in Ghana in Comparative Perspective

Geiger, Michael ; Trenczek, Jan ; Wacker, Konstantin M.

World Bank, Washington, DC

关键词: ECONOMIC GROWTH;    GROWTH DRIVERS;    STRUCTURAL TRANSFORMATION;    PRODUCTIVITY GROWTH;    STABILIZATION POLICY;   

DOI  :  10.1596/1813-9450-8699
RP-ID  :  WPS8699

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Ghana has experienced a decade of solidand exceptionally high growth. Between 2005 and 2015, incomenearly doubled. This paper analyzes the factors driving thisimpressive growth performance, using tools such asstructural change decompositions and growth regressions. Forthe comparative perspective, the paper compares Ghana withits structural and aspirational peers. The paper finds thatthe contribution of structural change to growth has beenlimited and attributes this to labor that was freed up inagriculture not being absorbed by high-productivity sectors.Looking at factors that drove growth since 2000, financialdevelopment and infrastructure had the most importantimpacts. A benchmark analysis suggests that those areasshould remain the policy focus over the longer term, butthat near-term priority should be given to stabilization policies.