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Investigating the Impact of Social Security on Economic Growth: Ghana as a Case Study

Author

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  • Eric Osei Addo

    (School of International Trade and Economics University of International Business and Economics, Beijing, China)

Abstract

In recent years, retired workers eligible for social security receive their emoluments from the appropriate regulatory agency and this provides more realistic evidence on the better living standard of the aged (retirees) under the scheme. Empirically, this paper examines the impact of social security on economic growth in Ghana using time series secondary (monthly) data ranging from 2000 – 2018. The author answers in two questions: 1) how significant are pensioners benefit payments dependent on economic growth and also, 2) how business environmental policy is contributing to economic performance as far as pensioners well-being are concerned. Using STATA analytical software, the findings show a positive significant relationship between social security and economic growth. The study concludes by outlining appropriate policy measures to help strengthen the current social security scheme in Ghana.

Suggested Citation

  • Eric Osei Addo, 2020. "Investigating the Impact of Social Security on Economic Growth: Ghana as a Case Study," Business, Management and Economics Research, Academic Research Publishing Group, vol. 6(5), pages 48-57, 05-2020.
    • Handle: RePEc:arp:bmerar:2020:p:48-57
    as

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