Browsing by Author "Takyi, Paul Owusu"

Now showing 1 - 3 of 3
  • No Thumbnail Available
    Item
    Economic activities’ response to the COVID-19 pandemic in developing countries
    (Scientific African, 2023) Takyi, Paul Owusu; Dramani, John Bosco; Akosah, Nana Kwame; Aawaar, Godfred; 0000-0001-9033-0764; 0000-0002-3640-2664; 0000-0001-9527-5258
    Since the occurrence of the COVID-19 pandemic, many governments around the world have instituted several economic policy responses to swathe the real sectors of their economies from the ramifications of the pandemic. However, most economies still remain vulnerable to the pandemic. In this paper, we evaluate and quantify the potential short-run impact of the COVID-19 pandemic on economic activities in eighteen (18) developing countries using monthly time series data on Industrial Production Index and Composite Index of Economic Activity from January 2010 to December 2020. In addition, we employ a state space model (a Bayesian structural time series model) to estimate the absolute and relative effects of the COVID-19 pandemic on economic activities in those countries. The results of our Bayesian posterior estimate show that, in relative terms, economic activities of six countries have significantly reduced during the occurrence of the COVID-19 pandemic, usually between -4.4% and -16%. Our Bayesian posterior distribution graphs show that the significant negative impacts of the COVID-19 pandemic on economic activities of most of the countries are rather short-lived. This finding suggests that the real sectors of those countries have seen a recovery after being adversely affected by the COVID-19 pandemic. We recommend a continuation of the policy tools introduced by the central banks and the international organizations with a key focus on sectors of that economy that involves significant human interactions such as the hospitality and tourism as well as the aviation industry which was hugely hit by the pandemic
  • No Thumbnail Available
    Item
    Natural resource dependence and economic growth in SSA: are there threshold effects?
    (Natural resource dependence and economic growth in SSA: are there threshold effects?, Development Studies Research,, 2022) Dramani, John Bosco; Rahman, Yahuza Abdul; Sulemana, Mahawiya; Takyi, Paul Owusu; 0000-0002-3640-2664; 0000-0002-8261-3075; 0000-0003-2281-3590; 0000-0001-9033-0764
    The debate on the natural resource curse hypothesis has attracted the attention of policy makers and policy analysts for the past few decades. However, the empirical findings on such a hypothesis have proven inconclusive. Our study investigates the threshold effects of natural resource dependence on economic growth in sub-Sahara Africa (SSA) using both aggregate and disaggregate data from 1990 to 2019 by employing a threshold effect model. The results indicate a double threshold effect of natural resource rent on economic growth. In particular, below 6% of GDP, aggregate natural resource rent exerts a significant negative effect on economic growth. However, as the rents increase above 6% to about 15% of GDP its negative effect on economic growth significantly reduces. In addition, beyond 15% of GDP natural resource rent exhibit a substantial significant positive impact on economic growth. Further, the disaggregated data reveal that forest rents exhibit a strong weighty adverse effect on economic growth at all levels of thresholds. The study recommends that governments within the sub region need to put in policies to ensure that natural resources generate at least 15% of GDP annually to promote growth.
  • No Thumbnail Available
    Item
    The threshold effect of electricity consumption and urbanization on carbon dioxide emissions in Ghana
    (Management of Environmental Quality: An International Journal, 2022) Nayaga, Paul; Adusah-Poku, Frank; Dramani, John Bosco; Takyi, Paul Owusu; 0000-0002-4766-7027; 0000-0001-5513-4530; 0000-0002-3640-2664; 0000-0001-9033-0764
    Purpose – The quest for economic development has brought adverse effects on the environment through the release of greenhouse gases, such as carbon dioxide (CO2). This will counter the efforts to achieve the Sustainable Development Goals (SDGs) by 2030. This study, therefore, investigates the effect of electricity consumption and urbanization on CO2 emissions in Ghana. Electricity consumption and urbanization are among the factors that can be used to reduce CO2 emissions. Design/methodology/approach – Following the STIRPAT framework with the Hansen (2000) least squares threshold estimation strategy, the study employed annual time series data from 1971 to 2019. Findings – The study revealed a single threshold effect of both electricity consumption and urbanization on CO2 emissions. Electricity consumption intensity reduces CO2 emission when electricity consumption is below the threshold (6287GWh) but increases when consumption passes the threshold. However, urbanization exerts a positive influence on CO2 emissions regardless the level of urbanization (either before or after the threshold point). Again, the empirical results revealed that the urbanization threshold moderates the effect of electricity consumption on CO2 emissions. Research limitations/implications – Policymakers have to consider redesigning the current urbanization mode to include some new-type urbanization elements. Originality/value – The threshold effect of electricity consumption and urbanization on CO2 emissions in Ghana is examined using the Hansen (2000) least square method.