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Foreign Direct Investment and Gross Domestic Product in Ghana

  • Francis Gyebi

    ()

    (University of Ghana)

  • Mary Owusu

    ()

    (University of Ghana)

  • Jonatha Kenneth Etroo

    ()

    (University of Ghana)

Registered author(s):

    This paper addresses how Governments of Ghana has made tremendous effort over the past decade at attracting sustainable Foreign Direct Investment (FDI) inflows to boost its Gross Domestic Product (GDP) and other economic indicators. It is noteworthy that Ghana is well endowed with rich natural resources comprising Gold, Oil, Timber, Cocoa, Bauxite, manganese etc. which form the backbone of its economy and dominates the main sources of foreign exchange(Budget statement, 2004).The low foreign exchange earnings on its export product as a result of its primary state compels it to expostulate to international financial and technical assistance at well as making giant strides to attract Foreign Direct Investment inflows to Ghana to supplement its locally generated revenue. This study explores whether FDI inflows have had any significant impact on GDP growth rate, the results indicate that FDI inflows have had an influence on GDP growth, it is however important to note that there are other important macroeconomic variables which need to be considered.

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    Article provided by Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences in its journal International Journal of Academic Research in Accounting, Finance and Management Sciences.

    Volume (Year): 3 (2013)
    Issue (Month): 3 (July)
    Pages: 256-265

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    Handle: RePEc:hur:ijaraf:v:3:y:2013:i:3:p:256-265
    Contact details of provider: Web page: http://hrmars.com/index.php/pages/detail/Accounting-Finance-Journal

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    1. Barry P. Bosworth & Susan M. Collins, 1999. "Capital Flows to Developing Economies: Implications for Saving and Investment," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 30(1), pages 143-180.
    2. Manuel Agosin & Roberto Machado, 2005. "Foreign Investment in Developing Countries: Does it Crowd in Domestic Investment?," Oxford Development Studies, Taylor & Francis Journals, vol. 33(2), pages 149-162.
    3. Balcao Reis, Ana, 2001. "On the welfare effects of foreign investment," Journal of International Economics, Elsevier, vol. 54(2), pages 411-427, August.
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