An analysis of stock market performance and gross domestic product growth in Ghana.
| dc.contributor.author | Agyei, Wilfred | |
| dc.date.accessioned | 2025-06-16T16:41:12Z | |
| dc.date.available | 2025-06-16T16:41:12Z | |
| dc.date.issued | 2019-04 | |
| dc.description | A Thesis Submitted In Partial Fulfilment For The Award Of A Master Of Science Degree In Economics. | |
| dc.description.abstract | There is a general assertion that a vibrant and representative stock market will reflect the economicgrowth of a country. This importance attached to the performance of stock markets has triggered curiosity and interest among investors, business owners, governments and policy makers regarding capital markets. This has generated a debate as to whether or not an exact relationship exists between the performance of stock markets and GDP growth. Therefore, an important question that must be answered is, does stock markets really contribute to growth in the GDP? A few researches have been conducted about the contributions of stock markets to the growth in the GDP but has produced varying results. This study employed the ARDL estimation techniques using the GSE Composite Index and the GDP to examine the relationship between the two variables. Results from the ARDL estimation techniques showed that, the stock market Composite Index used as a proxy for stock market performance has a positive relationship with GDP growth statistically only in the long run. Again, inflation has a positive relationship with GDP growth positively in the long run but negatively in the short run. Finally, labour impacts GDP growth positively in the long run but negatively in the short run. The study recommends that, regulators of the securities industry should meticulously ensure that, funds raised by companies on the market are managed and utilized efficiently, and also channelled to appropriate and productive ventures in order to contribute to Ghana’s GDP growth. Secondly, policies that are geared towards improving human capital should be advanced to tap the positive impacts of labour on GDP growth. Finally, since there is a positive relationship between inflation and GDP growth, policy measures should be put in place such that, inflation rate will not exceed its desired level and hamper growth. | |
| dc.description.sponsorship | KNUST | |
| dc.identifier.uri | https://ir.knust.edu.gh/handle/123456789/17298 | |
| dc.language.iso | en | |
| dc.publisher | KNUST | |
| dc.title | An analysis of stock market performance and gross domestic product growth in Ghana. | |
| dc.type | Thesis |