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External aid inflows and the real exchange rate in Ghana

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  • Sackey Harry A.

    (University of Manitoba)

Abstract

This paper develops an empirical model for Ghana’s real exchange rate with special focus on foreign aid. The novelty of this study is the interfacing of exports with a policy environment, using aid as proxy, to see how it affects export performance. The paper finds that although aid dependence is quite high, aid inflows lead to depreciations in the real exchange rate. Aid inflows have also had a positive impact on export performance. The paper concludes that for external aid to be an effective investment, policy management needs to focus on ensuring the prevalence of sound macroeconomic fundamentals, among others.

Suggested Citation

  • Sackey Harry A., 2001. "External aid inflows and the real exchange rate in Ghana," Working Papers 110, African Economic Research Consortium, Research Department.
    • Handle: RePEc:aer:wpaper:110
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    File URL: ftp://41.215.20.26/RePEc/aer/wpaper/RP110.pdf
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    Cited by:

    1. Mouhamadou Sy & Hamidreza Tabarraei, 2010. "Capital inflows and exchange rate in LDCs: The Dutch disease problem revisited," PSE Working Papers halshs-00574955, HAL.
    2. Mr. Joannes Mongardini & Brett Rayner, 2009. "Grants, Remittances, and the Equilibrium Real Exchange Rate in Sub-Saharan African Countries," IMF Working Papers 2009/075, International Monetary Fund.

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