Inflation dynamics and poverty rates: regional and sectoral evidence for Ghana
AbstractIn this paper, we investigate the co-incidence of inflation persistence and poverty in a small open economy, using disaggregated data for Ghana. We initially employ various fractional integration (FI) tests for (a) the existence of long-memory and (b) an estimate of the degree of persistence, where present, in regional and sectoral inflation. Further, based on an analysis of poverty rates across districts and regions in Ghana, we determine where the adverse impacts of inflation persistence would, most likely, hit hardest. Using monthly inflation series for the periods 2005:08-2010:06 (for regions) and 1997:10-2010:06 (for sectors), we suggest that the poor in three out of the nine regional groupings and patrons of five out of the twelve sectors considered, will bear the brunt of any welfare-reducing impacts of inflationary shocks, particularly since three of the five sectors are basic necessities. Some policy implications are then discussed.
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Bibliographic InfoPaper provided by Nottingham Trent University, Nottingham Business School, Economics Division in its series Working Papers with number 2011/04.
Date of creation: Sep 2011
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Web page: http://www.ntu.ac.uk/nbs
Inflation persistence; asymmetry; welfare policy objectives; poverty rates;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
- I38 - Health, Education, and Welfare - - Welfare and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
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