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Macroeconomic Determinants Of Inflation In Ghana From 1990 €“ 2009

Author

Listed:
  • Francis Gyebi

    (Msc Development finance,University of Ghana Business School, legon, Accra)

  • Godfried K. Boafo

    (Deputy Finance officer,Part-time lecturer Koforidua Polytechnic, Koforidua, Ghana)

Abstract

The study attempts to identify the macroeconomic factors responsible for inflation in Ghana for the period 1990 to 2009. For this purpose, the time series model is selected based on various diagnostic, evaluation and selection criteria. It can be concluded that the model has sufficient predictive powers and the findings are well in line with those of other studies. The research findings would show that real output and money supply are the strongest forces exerting pressure on the price level to move up the exchange rate depreciation and implementation of ERP helped reduce the level of inflation in Ghana giving evidence that the ERP achieved its basic objective of reducing inflationary trend in Ghana.

Suggested Citation

  • Francis Gyebi & Godfried K. Boafo, 2013. "Macroeconomic Determinants Of Inflation In Ghana From 1990 €“ 2009," International Journal of Business and Social Research, LAR Center Press, vol. 3(6), pages 81-93, June.
    • Handle: RePEc:lrc:larijb:v:3:y:2013:i:6:p:81-93
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    References listed on IDEAS

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    1. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
    2. International Monetary Fund, 2003. "Ghana: Poverty Reduction Strategy Paper," IMF Staff Country Reports 2003/056, International Monetary Fund.
    3. Chhibber, Ajay & Shafik, Nemat, 1990. "Exchange reform, parallel markets, and inflation in Africa : the case of Ghana," Policy Research Working Paper Series 427, The World Bank.
    4. repec:aer:wpaper:22 is not listed on IDEAS
    5. Byron D. Eastman, 1984. "Interpreting Mathematical Economics and Econometrics," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-17702-8, December.
    6. Argy, Victor, 1970. "Structural Inflation in Developing Countries," Oxford Economic Papers, Oxford University Press, vol. 22(1), pages 73-85, March.
    7. Nicoletta Batini, 2006. "Euro area inflation persistence," Empirical Economics, Springer, vol. 31(4), pages 977-1002, November.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Williams Ohemeng & Elvis Kwame Agyapong & Kenneth Ofori-Boateng, 2021. "Exchange rate and inflation dynamics: does the month or quarter of the year matter?," SN Business & Economics, Springer, vol. 1(6), pages 1-24, June.
    2. Samuel Tolasa & Sisay Tolla Whakeshum & Negese Tamirat Mulatu, 2022. "Macroeconomic Determinants of Inflation in Ethiopia: ARDL Approach to Cointegration," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 8(1), pages 96-120.

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