Investment Attraction and Trade Promotion In Economic Development: A Study of Ghana Within the Economic Community of West African States - ECOWAS

作者: Lawrence Mensah Akwetey

DOI:

关键词: Investment (macroeconomics)Trade barrierEconomic growthDeveloping countryDebtPromotion (rank)Foreign direct investmentEconomicsTrade promotionPoverty

摘要: At the first ever talks between leaders from developing countries and G7 group of leading industrial nations in year 2000, James Wolfensohn, President World Bank, said "it is important that when address the issue debt they a range inter-related questions including investment technology transfers." To this end call for partnership developed was made. This thesis evaluates importance foreign trade promotion economic development Ghana as country within Economic Community West African States (ECOWAS). The specifically investigates usefulness preconditions attracting investments into to boost production manufacture semi-processed manufactured goods enhance exports, trade, economic growth with view reducing poverty margins. Little research has been carried out on how activities can be effectively used Africa forge the investment such ECOWAS countries. In light recent alarming rates - mainly due poor development- there need for systematic evaluation other could employ Infrastructure, low Inflation rates, good literacy levels (Education), stable Political Social environment to engender an enabling climate would attract investors invest their use consistent also positively impact export growth development. Lessons learn success East Asian have discussed study. A Investment Trade Framework developed. This incorporates possibility vigorous influence increased Foreign Direct (FDI) the production export. These potential expanding like Ghana. The methodological framework testing two hypotheses study based types statistical techniques. evaluating proposition direct attraction Ghana, we rely econometric regression analysis using MICROFIT software. (i.e. Inflation, Education Stability period 1966-1998 (30 years) Ghana. second hypothesis, which links overseas FDI was, however, tested discriminant Statistical Programme Sciences (SPSS) technique test robustness findings case hypothesis. The empirically assesses selected (Ghana's participation fairs) level attracted during specifie time periods 1966 1997. criteria include 30 years (a) existing preconditions, (b) fairs). latter 15 (1985-1999) lack data earlier and existing new were shown positive Regression Model. results show presence these There no conclusive evidence Ghana's had any clear significant country. The outline need create countries, order sufficient into their help exports economie development. conclusion is, therefore, can achieve through efficient policies strategies; existence vital intensive (consistent participation prove highly catalytic achievement.

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