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Interrogating the drivers of budget credibility dynamics in Ghana’s education sector through the lens of unmitigated spending credibility crisis discourses

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  • Nunoo, Jacob
  • Abango, Mohammed A
  • Abreh, Might Kojo

Abstract

In recent times, attention has been paid to the spending credibility given its role in the determination of functioning capacity of budgets and their implementation. This global interest in spending credibility has been engaged using Ghana’s low education spending credibility, occasioned by observations of large deviations in planned and executed education budgets. Informed by Heisenberg's uncertainty principle within the context of operating a balanced budget, we provide novel insights into the extent and drivers of education spending credibility dynamics in Ghana during 2005-2022. Leveraging the potential of autoregressive distributed lag (ARDL) model augmented by descriptive trend analysis and paired sample T-Test, we detect overspending of overall education, salary, and non-salary budgets by 23.06%, 26.26%, and 517.60% on average, respectively. The large spending variances depict low overall and compositional education spending credibility. The results further show that overall education spending credibility dynamics are predominantly driven by deviations in domestic funding composition in both long and short run. The paper, therefore, underscores increased pressure on domestic education funding sources, suggesting the need to adopt policies to diversify current revenue streams.

Suggested Citation

  • Nunoo, Jacob & Abango, Mohammed A & Abreh, Might Kojo, 2023. "Interrogating the drivers of budget credibility dynamics in Ghana’s education sector through the lens of unmitigated spending credibility crisis discourses," SocArXiv ne3cr, Center for Open Science.
    • Handle: RePEc:osf:socarx:ne3cr
    DOI: 10.31219/osf.io/ne3cr
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    References listed on IDEAS

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    1. Mohammed A. Abango & Hadrat Yusif & Adam Issifu, 2019. "Monetary Aggregates Targeting, Inflation Targeting and Inflation Stabilization in Ghana," African Development Review, African Development Bank, vol. 31(4), pages 448-461, December.
    2. Reda Abonazel, Mohamed & Elnabawy, Nourhan, 2020. "Using the ARDL bound testing approach to study the inflation rate in Egypt," Economic Consultant, Roman I. Ostapenko, vol. 31(3), pages 24-41.
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