This paper examines the impact of maize trade on the development of the maize industry in Ghana using a time series dataset for 1980-2019. The study adopted the multivariate vector error correction model (VECM). We assess whether maize trade spurs development in the maize industry and hence economic growth. The study further examined whether other production variables such as fertilizer, machinery, and FDI efficiently stimulates development in the maize industry. The empirical analysis results suggest that maize trade and other variables positively impact the maize industry in the long run. Firstly, the results show that the import and export of maize positively impact maize productivity in Ghana, hence growth in the maize industry development in the long run. Secondly, the inputs of production including, Land, Machinery, Labor, have a long-run positive significant relationship with the development of the maize industry in Ghana. Thirdly, other production inputs such as fertilizer have a positive non-statically long-run effect on the maize productivity in Ghana. Based on these findings, we recommend that governments look into policy initiatives on the development of the maize industry. The policy initiatives should provide financial and non-financial incentives such as fertilizer and certified seed subsidies, complimentary service provisions on inputs, good agronomic practices. Also, marketing of outputs over an E-Agriculture platform, and reduce trade restrictions to maximize maize production.
Most countries in the world were negatively impacted by the USA financial crisis of 2008. In 2010-2012 people have seen economic failures of Greece and Iceland impact the European Union and other countries. Interestingly, the factors which caused the financial industry failures in these developed nations were not identical; nonetheless, the results were similar: severe economic recession. It is important to better understand the financial predictors and best-practices for developed and emerging nations in other countries, particularly outside USA and the European Union - namely Africa. Businesses in Ghana (and the continent of Africa) make a significant economic contribution to the global Gross Domestic Product (GDP), which is important to study because their financial activities impact many countries, since our global economic systems have become interconnected. This study examined a large bank in Ghana (a country located on the north-west coast of Africa, to empirically identify problems and to propose solutions to improve financial policies associated with Small-to-Medium-Sized-Enterprise (SME) industry - who are the key contributors to national GDP. A statistically significant probit logistic model was developed using a mixed-method approach which also included a qualitative SWOT analysis. The results indicated that the critical socio-economic success factors of financial success versus failure for SME businesses were: age of owners, company size, total income, and quality of hired labour. The secondary factors were institutionally-related: organisational structure, credit policies, inadequate technology platform management, ineffective monitoring of SMEs, and weak economic recovery strategies. Recommendations were made to improve national economic policies for the banking industry in Ghana, based on this model.
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