Impact of International Trade on the Economic Growth in Ghana
Abstract
The aim of this research is to undertake a critical evaluation of the impact of international trade on the economic growth in Ghana. For this purpose, a secondary data based research is conducted in this paper wherein a comprehensive range of empirical research papers of country and trade reports are examined to gather the data. The findings thus obtained
have been analysed with the help of thematic analysis, wherein two key macro-economic indicators associated to international trade, namely Foreign Direct Investment (FDI) and exports are analysed in the context of their impact on the economy of Ghana. The findings gathered from the analysis revealed that two important macro-economic indicators for international trade directly influence the GDP of an economy and the overall growth of the country.
Downloads
References
[2] Aryeetey, E. and Kanbur, S.M.R. 2017. The Economy of Ghana Sixty Years after Independence. Oxford University Press.
[3] Boakye, R.N. and Gyamfi, E. 2017. The impact of foreign trade on the economic growth of Ghana. International Journal of Business Marketing and Management 2(3), pp. 20-26.
[4] Cypher, J.M. and Dietz, J.L. 2008. The Process of Economic Development. Routledge.
[5] Enu, P., Havi, E.D.K. and Hagan, E. 2013. The Impact of Foreign Trade on Economic Growth in Ghana (1980 – 2012). International Journal of Academic Research in Economics and Management Sciences 2(5), pp. 174-191.
[6] Evans, T., Frank, L. and Rebecca, J. 2017. The Effect of Foreign Direct Investment (FDI) on the Ghanaian Economic Growth. Journal of Business and Economic Development 2(4), pp. 240-246.
[7] Gipouloux, F. 2011. Gateways to Globalisation: Asia's International Trading and
Finance Centres. New York: Edward Elgar Publishing.
[8] Gladys, A. and Evans, Y. 2018. FDI inflows and outflows in Ghana and its exports and imports. Journal of Economics and Sustainable Development 9(1), pp. 38-44.
[9] Heckscher, E.F. 2006. International Trade, and Economic History. MIT Press.
[10] Huq, M. and Tribe, M. 2018. The Economy of Ghana: 50 Years of Economic Development. Palgrave Macmillan.
[11] Maswood, S.J. 2017. Revisiting Globalization and the Rise of Global Production Networks. Berlin: Springer.
[12] Melchior, A. 2018. Free Trade Agreements and Globalisation: In the Shadow of Brexit and Trump. Berlin: Springer.
[13] Piatkowski, M. 2018. Europe's Growth Champion: Insights from the Economic Rise of Poland. Oxford University Press.
[14] Schumacher, R. 2012. Free Trade and Absolute and Comparative Advantage: A Critical Comparison of Two Major Theories of International Trade. Universitätsverlag Potsdam.
[15] Spear, S. E. and Young, W. 2016. Endogenous growth theory and models: The "First Wave", 1952-1973. [Online]. Available at: https://www.econstor.eu/bitstrea
m/10419/173739/1/859330389.pdf. [Accessed on: 26 September 2019].
[16] Suranovic, S.M. 2010. International Trade: Theory and Policy. Flat World Knowledge.
[17] Taylor, S.T., Bogdan, R. and DeVault, M. 2015. Introduction to Qualitative Research Methods: A Guidebook and Resource. New Jersey: John Wiley & Sons.
[18] The World Bank Group. 2019. Foreign Direct Investment, net inflows (% of GDP). [Online]. Available at: https://data.worldbank.org/indicator/BX.KLT.DINV.WD.GD.ZS
?end=2018&locations=GH&start=2000&view=chart. [Accessed on: 26 September 2019].
[19] The World Bank Group. 2019. Export of goods, services and primary income (BoP, current US$). [Online]. Available at: https://data.worldbank.org/indic ator/BX.KLT.DINV.WD.GD.ZS?end=2018&locations=GH&star t=2000&view=chart. [Accessed on: 26 September 2019].
[20] United Nations Conference on Trade and Development. 2007. Globalisation and development. [Online]. Available at: https://unctad.org/en/Docs/ditc20071_en.pdf. [Accessed on: 26 September 2019].
[21] Yennu, A.T. 2018. International Trade and Economic Growth in Ghana - Benefits, Constraints and Impacts. International Journal of Economics Management Sciences 7(4), 1-4.
TRANSFER OF COPYRIGHT
JRBEM is pleased to undertake the publication of your contribution to Journal of Research in Business Economics and Management.
The copyright to this article is transferred to JRBEM(including without limitation, the right to publish the work in whole or in part in any and all forms of media, now or hereafter known) effective if and when the article is accepted for publication thus granting JRBEM all rights for the work so that both parties may be protected from the consequences of unauthorized use.
