Foreign Direct Investment in Ghana: The Role of Infrastructural Development and Natural Resources

被引:16
作者
Anarfo, Ebenezer Bugri [1 ]
Agoba, Abel Mawuko [2 ]
Abebreseh, Robert [1 ]
机构
[1] Ghana Inst Management & Publ Adm, GIMPA Business Sch, POB AH 50, Achimota, Accra, Ghana
[2] Cent Univ, Dept Banking & Finance, POB 2305, Tema, Ghana
来源
AFRICAN DEVELOPMENT REVIEW-REVUE AFRICAINE DE DEVELOPPEMENT | 2017年 / 29卷 / 04期
关键词
ECONOMIC-GROWTH EVIDENCE; REAL EXCHANGE-RATE; DEVELOPING-COUNTRIES; CAUSAL INTERACTIONS; FDI INFLOWS; DETERMINANTS; FLOWS; AFRICA; IMPACT; TRADE;
D O I
10.1111/1467-8268.12297
中图分类号
F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];
学科分类号
0201 ; 020105 ; 03 ; 0303 ;
摘要
This paper examines the role of infrastructural development and natural resources on FDI inflows in Ghana. We examine the empirical relations using the Prais-Winsten regression estimation procedure which is meant to overcome autocorrelation and heteroscedasticity in the error terms in the model, often for regressions applied to series. The data was obtained from World Development Indicators (WDI) spanning from 1975 to 2014. Our findings suggest that infrastructural development and natural resources are drivers of FDI inflows in Ghana. The other variables that significantly influence FDI inflows in Ghana include the lending interest rate, market size and GDP growth rate. The policy implications of this study is that, while Ghana seeks to expand its infrastructure and natural resources to enhance FDI inflows and economic growth, this must be done in tandem with creating an enabling environment to ensure macroeconomic stability.
引用
收藏
页码:575 / 588
页数:14
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