Adu, George
- Department of Economics, Swedish University of Agricultural Sciences
Research article2011Peer reviewedOpen access
Determinants of inflation in Ghana: an empirial investigation
Adu, George; Marbuah, George
Abstract
This paper provides an empirical analysis of the factors accounting for inflation dynamics in Ghana using the bounds test and other econometric approaches.We find that real output, nominal exchange rate, broad money supply, nominal interest rate and fiscal deficit play a dominant role in the inflationary process in Ghana. To the extent that output growth by far has the strongest impact on inflation, targeting supply-side constraints will help moderate price inflation. The paper concludes that inflation in Ghana is explained by a combination of structural and monetary factors consistent with prior studies
Keywords
Inflation; unit root; fiscal deficit; ARDL; Ghana
Published in
South African Journal of Economics
2011, volume: 79, number: 3, pages: 251-269
Publisher: WILEY-BLACKWELL
Marbuah, George
- Department of Economics, Swedish University of Agricultural Sciences
- Department of Economics, Swedish University of Agricultural Sciences
SLU Authors
UKÄ Subject classification
Social Sciences
Economics and Business
Publication identifier
DOI: https://doi.org/10.1111/j.1813-6982.2011.01273.x
Permanent link to this page (URI)
https://res.slu.se/id/publ/46410