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Foreign aid, domestic revenue and economic growth in Ghana
Get PDFVarious funding sources are available to any government in a developing country. In spite of their availability, each source has its unique way of contributing to economic growth. The objective of this study is to determine the relationship between foreign aid and domestic revenue on one hand and their effect on economic growth in Ghana. Using macroeconomic time series data (for 1970 - 2011) and error correction methodology, together with Granger causality tests, the results show that domestic revenue and foreign aid complement each other for development financing in Ghana. Moreover, foreign aid cannot be a substitute for domestic revenue generation as domestic revenue is the most important of the two factors. Domestic revenue is the most effective irrespective of the existence of other forms of capital. In addition, the threshold effect of aid becomes non-existent when there is no capital accumulation. There is a positive causal link from both domestic revenue and foreign aid to economic growth. It is recommended that more attention should be given to the generation of domestic revenue
The influence of ownership structure on performance of Ghanaian insurance and banking firms
No full textAs at 2005, Ghana diversified 351 state-owned enterprises (either fully or partially owned), which attracted a substantial foreign direct investment into the country. This was to introduce efficiency into the management of these public enterprises, hence, the belief that ownership and, in particular, specific type of composition of corporate ownership structure has an impact on a firm\u27s performance. This paper examines the influence of ownership structure on firm performance in Ghana as one of the buoyant and emerging economies in Sub-Saharan Africa. Using data from a period of2000-2010, panel regression was employed to analyze the impact of three major types of ownership structure and the determinants of performance. The ownership structures that are employed in this study are: (1) foreign ownership, (2) Government ownership, and (3) Close corporations. Using two accounting-based measures of financial performance (i.e. return on equity (ROE) and return on asset (ROA), and based on the sample of banks and insurance firms the result showed that both closed corporations and government-owned firms did not perform better than the foreign owned firms. The study also found that inflation and exchange rate are the two main macroeconomic variables that influence firm performance
Farmer training and household labour use
Get PDFThe question has always been asked as to whether training leads to a change in farmer behaviour in terms of labour for farm production. This question forms the main thesis of this paper. The paper investigates this question, among others, using panel data obtained from about 3,000 farmers and collected over the period February 2010 to January 2011. The paper employs a difference-in-difference estimator to test whether training provided to beneficiary farmers under the Millennium Challenge Account (MCA) Ghana programme did change labour use on the farms of these farmers. The main findings of the study are that the training seems to have impacted positively on households\u27decision to allocate labour hours to harvesting related activities for both the major and minor seasons. The study concludes by noting that there are significant differential impacts with respect to the type of labour, and/orzonefor which the estimates were generated. In general, the impact is positive for all the cases where evidence of impact is found. It is therefore suggested that farmers increased their labour use because of their expectations of positive returns due to the Millennium Development Authority (MiDA) intervention
An investigation of the determinants of inward foreign direct investment flow into Ghana’s agricultural sector
Get PDFThe paper investigated the factors that attracted foreign direct investment (FDI) into the Agricultural sector in Ghana over the period 1970- 2009 by estimation of a vector autoregressive model (VAR). Positive and statistically significant elasticities showed that nominal exchange rate, agricultural trade openness, GDP per capita, school enrolment and availability of uncultivated agricultural land were positively related to the dependent variable, FDI into agriculture. Available agricultural land and school enrolment showed the highest elasticities of 41.9 and 2.8 respectively, ahead of economic variables namely; nominal exchange rate, agricultural trade openness and GDP per capita. Policies with the objectives of strengthening school enrolment and access to available uncultivated agricultural land should be pursued. Improvement in international trade in agricultural products, economic growth and the strengthening of the current foreign exchange regime are required if Ghana hopes to attract more FDI into her agricultural sector
Cashflow forecasting in the construction industry: The case of Ghana
Get PDFResearch has shown that only one out of eight projects in the USA is successful (David and Trevor, 2011). Park, Seung and Rusells (2005) quoted Russell (1991) who found that more than 60% of construction contractor\u27s failure is due to economic factors. Thus, when planning funding requirements of a business, it is more important to manage the likely cash requirements than to merely project profitability. Whilst profit is a vital indicator of the performance of a project, the generation of profit does not necessarily guarantee its realization development, or even survival. It is imperative to note that more businesses fail for lack of cashflow than for want of profit. This paper discusses and highlights the results of a study conducted to determine, rate, and rank the significant factors that affect the cash flow of contractors in Ghana. The District Assembly Common Funded (DACF) project was used as a cose study. The paper adopted the qualitative and quantitative research methods. In terms of quantitative methods, primary data was gathered through structured questionnaires distributed to contractors, consultants, district assemblies (clients) in the Ashanti and Brong Ahafo regions of Ghana. The sample size was drawn using the Kish (1965) method. In total, 123 out of 152 questionnaires were retrieved indicating 81 % response rate. Statistical analysis, using relative importance indices, significance testing and concordance testing revealed that 15 factors significantly affect the cash flow status of a contractor during the currency of construction projects. These factors were further categorised into either endogenous or exogenous groupings, based on the source of the factor and its effect on the construction firm. It was further revealed that cash flow factors could be considered to have contractor inclination or contractual influence depending on the extent of skewness of these factors to the former. The paper recommends that, to enhance effective productivity through cash flow systems, there must be a balance between the exogenous and endogenous factors, with the diligently undertaking risk analysis for the prospects of the project and the client making conscious effort not to violate the contractual factors
A behavioural approach to university branding: An exploratory study
No full textBranding of universities is attracting increasing attention, as educational organisations strive to succeed in a more competitive environment. Though many universities are now adopting branding, which is operationalised as conscious development and management of the university\u27s identity, there is little literature and research on university brands, and how they can be created and managed. This contribution explores the subject of university branding as a means of generating sustainable competitive advantage. This article concludes that success in a competitive environment will depend on effective brand differentiation based on the identification, internalisation, delivery and communication of unique brand identity that appeals to both internal and external stakeholders. Based on in-depth interviews conducted among industry experts and university administrators in Ghana, a conceptual framework is proposed for university branding, through behavioural management
The application of information and communications technology in hospitals and clinics in the Accra Metropolis
Get PDFGhana has witnessed a proliferation of Information and Communication Technologies (ICT) since 1990. There is now mounting evidence that ICT can be used to facilitate various aspects of socio-economic development process in the world. Ghana adopted an ICT policy in 2003 that acknowledges the social and economic issues affecting the various sectors of the country. / The study covered both public and quasigovernment facilities in the 13 submetropolitan areas of the Accra Metropolitan area in the Greater Accra Region of Ghana. Data was collected mainly through the use of questionnaires (Questionnaire of Dakubu, and Adomako-Owusu (2002) were modified) which elicited from the Hospital Managers, Administrators and Medical Officers-in-Charge of the selected hospitals and clinics the state, use and application of ICT in their various facilities. The questionnaires were pre-tested before administration. The data was analyzed using SPSS Ver. 11. The study revealed that the Health facilities are not yet completely committed to the deployment of ICT. There are no strategic plans in place in most of the facilities for the deployment of ICT; even those facilities that have deployed ICT have not aligned it with theirbusiness strategies. The study also revealed that budgetary allocation for ICT in most facilities is below 10% of their total expenditure. ICT has made some impact in the facilities in which it has been deployed. Some recommendations were given
Internet and online shopping in an emerging economy: The Ghanaian perspective
No full textThe purpose of this study was to investigate the uses of the internet and find out whether online shopping has been adopted by Ghanaian consumers. The study also examined the relationship between internet usage and online shopping. Since its discovery, the internet technology has benefited both consumers and business; a number of researches conducted indicate its high patronage by consumers or users. Using a sample of 200 respondents, structured survey questionnaire on the internet usage and online shopping was used to collect empirical data from the Accra Metropolis. The findings suggest that the level of internet knowledge is very high and the internet is used for so many activities including e-mailing, information searching, and chatting. The study also found three types of internet users in Ghana i. e, occasional users, frequent and regular users. Adoption of online shopping on the other hand was found to be very low although respondents indicated the willingness and desire to shop online. This low patronage is attributed to a number of factors. With these findings Businesses migrating to the internet should consider other services that can be offered, and consider actual selling more strategically
The financial mechanism for the poor: Evidence from Ghana
No full textTraditionally, it is assumed without empirical evidence, that poor people are too poor to save hence hove been ignored by formal financial institutions. However, there exists a body of evidence showing the saving powers of the poor when given the chance. This paper presents some of the financial instruments used by poor people and gives brief discussions on the types of savings tools poor people use. These tools, the Rotating Saving Credit Associations (ROSCAs) and the Susu system, are traced to their historical roots. We then use data to show that clients of a microfinance institution actively use these savings instruments to raise lump sum. The data show that clients use several saving instruments in addition to the institutions compulsory dues. These savings tools, ignored by the financial sector could be used to mobilize deposits from the poor people by the sector. It is envisaged that both the formol and informal financial sectors would learn from such ancient savings institutions to mobilize deposits from poor households