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Aid dependence and economic growth in Ghana

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  • Samuel Adams
  • Francis Atsu

Abstract

The study examined the impact of aid on economic growth in Ghana for the period 1970ó2011. Using the Autoregressive Distributed Lag (ARDL) methodology; the findings of the study suggest that foreign aid had a positive effect in the short run but has a negative effect in the long run. The investment and government consumption variables were significantly related to economic growth, while financial depth and trade did not have a significant impact on economic growth of Ghana. The findings of the study indicate that one size fits all strategy for the allocation of official development assistance might not be optimal.

Suggested Citation

  • Samuel Adams & Francis Atsu, 2014. "Aid dependence and economic growth in Ghana," Economic Analysis and Policy, Elsevier, vol. 44(2), pages 233-242.
    • Handle: RePEc:eee:ecanpo:v:44:y:2014:i:2:p:233-242
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    Cited by:

    1. Fisayo Fagbemi & Tolulope T. Osinubi, 2020. "Leveraging Foreign Direct Investment for Sustainability: An Approach to Sustainable Human Development in Nigeria," Working Papers 20/090, European Xtramile Centre of African Studies (EXCAS).
    2. Emmanuel Kumi & Muazu Ibrahim & Thomas Yeboah, 2017. "Aid, Aid Volatility and Sectoral Growth in Sub-Saharan Africa: Does Finance Matter?," Journal of African Business, Taylor & Francis Journals, vol. 18(4), pages 435-456, October.
    3. Claudia Nyarko Mensah & Lamini Dauda & Kofi Baah Boamah & Muhammad Salman, 2021. "One district one factory policy of Ghana, a transition to a low-carbon habitable economy?," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(1), pages 703-721, January.
    4. Adom, Philip Kofi, 2016. "The DDT Effect: The case of Economic Growth, Public Debt and Democracy Relationship," MPRA Paper 75022, University Library of Munich, Germany, revised 11 Nov 2016.
    5. Solomon Samanhyia & Danny Cassimon, 2019. "The Effect of Aid on Growth in the Presence of Economic Regime Change," The African Finance Journal, Africagrowth Institute, vol. 21(2), pages 1-23.
    6. Boateng, Elliot & Agbola, Frank W. & Mahmood, Amir, 2021. "Foreign aid volatility and economic growth in Sub-Saharan Africa: Does institutional quality matter?," Economic Modelling, Elsevier, vol. 96(C), pages 111-127.
    7. Jing Shao & Maojun Wang, 2022. "Revisiting economic effectiveness of foreign aid: The case of Japanese aid to China," The World Economy, Wiley Blackwell, vol. 45(7), pages 2284-2304, July.
    8. Mohammed Elhaj Mustafa Ali & Manal Mahagoub Elshakh & Ebaidalla Mahjoub Ebaidalla, 2018. "Does Foreign Aid Promote Economic Growth in Sudan? Evidence from ARDL Bounds Testing Analysis," Working Papers 1251, Economic Research Forum, revised 13 Nov 2018.

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