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The Impact of COVID-19 Pandemic on the Incidence of Poverty, Economic Growth and Development: Evidence from Ghana

In: COVID-19 Pandemic and Global Inequality

Author

Listed:
  • Napoleon Kurantin

    (Academic Division)

  • Bertha Z. Osei-Hwedie

    (Ghana Institute of Management and Public Administration, School of Public Service and Governance)

Abstract

The chapter aims to focus on the ramifications of the Coronavirus disease (COVID-19) pandemic on Ghana’s Gross Domestic Product (GDP) since its inception in 2019. Globally, since the outbreak of the COVID-19 pandemic, countries have continued to suffer adverse economic effects translating into trillions of dollars in terms of world trade, and the distribution of global supply chain. Ghana, like other African countries, has formulated and implemented economic and social policies (fiscal and monetary) to deal with the global economic recession. Henceforth, the chapter seeks to investigate the impact of the COVID-19 pandemic on the processes of economic growth, and development relative to the incidence of poverty. Specifically, the chapter investigates the impact of the COVID-19 pandemic on the top five key sectors (agriculture, tourism, building and construction, infrastructure, and manufacturing) of the Ghanaian economy: research into the proportion of their contributions to GDP at a steady state. The chapter intends to model the effect of the COVID-19 pandemic on the processes of economic growth and development using the Discrete-time Markov Chain method and analysis within a quantitative research approach. Such an inquiry and analysis are undertaken within the prism of the Neoclassical economy model of long-run equilibrium of income within the theory of convergence. Among others, the chapter’s main goal is to contribute to the formulation of post-COVID-19 economic recovery policy/ies and processes aimed at reducing the incidence of poverty and inequality within the sub-Saharan Africa region with Ghana, as a case study.

Suggested Citation

  • Napoleon Kurantin & Bertha Z. Osei-Hwedie, 2023. "The Impact of COVID-19 Pandemic on the Incidence of Poverty, Economic Growth and Development: Evidence from Ghana," Springer Books, in: Rajib Bhattacharyya & Ramesh Chandra Das & Achintya Ray (ed.), COVID-19 Pandemic and Global Inequality, chapter 0, pages 89-104, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-4405-7_6
    DOI: 10.1007/978-981-99-4405-7_6
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