Browsing by Author "Ofori-Abebrese, Grace"
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- ItemEmpirical Analysis of the Relationship between Industrial Performance and Macroeconomic Factors in Ghana(British Journal of Economics, Management & Trade, 2016-05-09) Mensah, Frederick; Ofori-Abebrese, Grace; Pickson, Robert BeckerThe conscious attempt to ascertain the wide range of macroeconomic factors that drive industrial production in Ghana necessitated this study. The main purpose of this study is to ascertain the impact that macroeconomic factors have on industrial performance in Ghana over the period 1980 to 2013. The Autoregressive Distributed Lag Model was employed to examine the long run and the short run dynamics of macroeconomic factors and industrial output. The study found cointegration relationship between industrial output and the macroeconomic factors. The results indicated that the major macroeconomic factors that affect industrial performance in Ghana are lending rate (+), inflation (+), employment (+) and government expenditure (+). Based on the findings, the study recommends that the government of Ghana should stabilize the macroeconomic environment of Ghana in order to achieve industrial growth and development.
- ItemPUBLIC SECTOR WAGE AND INFLATION IN GHANA(Asian Economic and Financial Review, 2017-04-10) Ofori-Abebrese, Grace; Walanyo Azumah, George Kwesi; Pickson, Robert BeckerAchieving price stability has been in the orbit of concern of state authorities for time immemorial. This paper is therefore focused on determining empirically the impact of public wage bill on inflation in Ghana for the period of 1986-2014. Using an Autoregressive Distributed Lag (ARDL) to cointegration model, it was discovered from the study that public wage bill, currency depreciation rate, money supply, and fiscal deficit all have significant impact on inflation in Ghana. The outcome of this study postulates that the rate of inflation determination in Ghana is also a fiscal phenomenon in spite of the significant and domineering role played by monetary expansion. Consequently, equal attention must be accorded both fiscal and monetary policy in the fight against the rate of inflation in Ghana for appreciable and sustained result.