Economic Multipliers and Sectoral Linkages: Ghana and the New Oil Sector

Abstract

The study seeks to assess the structure of the economy of Ghana in terms of changes in the economic structure before and after the production of oil in commercial quantities. This is viewed with regards to economic multipliers, sectoral interdependence and trade concentration. The results show that changes occurred with regards to multipliers and sectoral interdependence. The output multipliers of most sectors have declined. The results also show that the agricultural sector experienced an initial decline in its growth while industry experienced an increase. The performance of the services sector was relatively stable for the period covered by the study. There is a decline in the level of trade concentration though on a whole the concentration index is still high. The study employed input-output modeling techniques and the data was obtained from the Ghana statistical service and the World Development Indicators.

Nowcasting the Agricultural Revenue and the Agricultural Land in Türkiye: An Autoregressive Multilayer Perceptron Network Approach

“…Similarly, the agricultural sector is investigated for the period of 1952-2010 for Pakistan and it is concluded that modern technologies has the potential to increase the contribution of the agriculture sector on the economic growth (Zaheer, 2013). In another study, the economic data of Ghana is analysed for the 2009-2013 period and it is shown that the share of the agricultural sector in the gross domestic product has increased from 20% to 30% from 2009 to 2013, increasing the importance of the agricultural revenue for the gross domestic product (Nchor and Konderla, 2016). The employment shares of the agricultural sector in the gross domestic products of several countries are studied in another paper where it is exposed that the share of the employment in the agriculture sector are 42% in South Asia, 31% in sub-Saharan Africa, 40% in China, 27% in North Africa and 4% in high income countries in the period of 2000-2015 (FAO of UN, 2018).…”

The role of the agricultural sector in Ghanaian development: a multiregional SAM-based analysis

“…Input–output tables have been used to calculate multipliers for the Ghanaian economy (Nchor 2014 ; Bentum-Ennin 2018 ) and to analyse the sectoral linkages for the specific case of the oil sector (Nchor and Konderla 2016 ). However, due to the characteristics of the Ghanaian economy, the SAM multiplier models are more appropriated tools, as they allow closing the circular flow of income and expenditure, taking into account household-related socio-economic data from household budget and labour force surveys.…”