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Export Performance and Investment Behaviour of Firms in Ghana

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  • Sarpong, Daniel Bruce
  • Wolf, Susanna

Abstract

From the theoretical literature a strong relationship between export performance and investment behaviour at the firm level is expected. A 2003 survey of 100 Ghanaian enterprises is used to analyse the factors that influence the investment and exporting behaviour of firms using a simultaneous equation model to allow for the endogeneity of investment and exporting. In addition, the different factors that influence the investment and export decisions in different sectors are investigated. However, no significant positive relationship between exporting and investment could be found. There seems rather to be a negative association, which might be explained by constraints in the access to capital. On the other hand there are several factors that work in the same direction, for example, younger firms, larger firms and more efficient firms are more likely to invest and more likely to export.

Suggested Citation

  • Sarpong, Daniel Bruce & Wolf, Susanna, 2008. "Export Performance and Investment Behaviour of Firms in Ghana," Proceedings of the German Development Economics Conference, Zurich 2008 46, Verein für Socialpolitik, Research Committee Development Economics.
    • Handle: RePEc:zbw:gdec08:46
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    References listed on IDEAS

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    1. World Bank & International Finance Corporation, 2006. "Doing Business in 2006 : Creating Jobs," World Bank Publications - Books, The World Bank Group, number 7421.
    2. Sofronis K. Clerides & Saul Lach & James R. Tybout, 1998. "Is Learning by Exporting Important? Micro-Dynamic Evidence from Colombia, Mexico, and Morocco," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(3), pages 903-947.
    3. Richard Kneller & Mauro Pisu, 2004. "Export-oriented FDI in the UK," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 20(3), pages 424-439, Autumn.
    4. Wolf, Susanna, 2003. "Private Sector Development And Competitiveness In Ghana," Discussion Papers 18728, University of Bonn, Center for Development Research (ZEF).
    5. Andrew B. Bernard & J. Bradford Jensen, 2004. "Why Some Firms Export," The Review of Economics and Statistics, MIT Press, vol. 86(2), pages 561-569, May.
    6. David Greenaway & Richard Kneller, 2007. "Firm heterogeneity, exporting and foreign direct investment," Economic Journal, Royal Economic Society, vol. 117(517), pages 134-161, February.
    7. Måns S–derbom & Francis Teal, 2003. "Are Manufacturing Exports the Key to Economic Success in Africa?," Journal of African Economies, Centre for the Study of African Economies, vol. 12(1), pages 1-29, March.
    8. Roberts, Mark J & Tybout, James R, 1997. "The Decision to Export in Colombia: An Empirical Model of Entry with Sunk Costs," American Economic Review, American Economic Association, vol. 87(4), pages 545-564, September.
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