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ToolsObeng, Samuel Kwabena, Akoto, Linda and Acquah, Felicia (2018) Democracy, globalization and private investment in Ghana. Global Business Review, 19 (1). pp. 1-20. ISSN 0972-1509
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Abstract
The article examines the effects of democracy and globalization on private investment in Ghana for the period 1980–2012, using the autoregressive distributed lag (ARDL) bounds test for cointegration and the error correction model (ECM). Two models are used. In Model 1, democracy is proxy by an index for institutional quality (Polity 2), while Model 2 uses an index for civil liberties as proxy for democracy. The results for Model 1 show globalization and public investment increase private investment, while exchange rate volatility and trade openness decrease private investment in both the long and short run. In addition, national income and interest rate reduce private investment in the short run. In the case of Model 2, credit to the private sector and public investment increase private investment, while exchange rate volatility and trade openness decrease private investment in both the long and short run. Finally, national income and interest rate reduce private investment in the short run. The findings and policy recommendations of the article provide vital information for policy implementation in Ghana.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | democracy,globalization,private investment,ardl,ecm |
| Faculty \ School: | Faculty of Social Sciences > School of Economics |
| UEA Research Groups: | Faculty of Social Sciences > Research Groups > Applied Econometrics And Finance |
| Related URLs: | |
| Depositing User: | Pure Connector |
| Date Deposited: | 23 Nov 2017 06:06 |
| Last Modified: | 28 Jan 2024 02:36 |
| URI: | https://ueaeprints.uea.ac.uk/id/eprint/65551 |
| DOI: | 10.1177/0972150917713288 |
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