Sammanfattning

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

Nyckelord

Inflation; unit root; fiscal deficit; ARDL; Ghana

Publicerad i

South African Journal of Economics
2011, Volym: 79, nummer: 3, sidor: 251-269
Utgivare: WILEY-BLACKWELL

SLU författare

• Adu, George

  • Institutionen för ekonomi, Sveriges lantbruksuniversitet
    

• Marbuah, George

  • Institutionen för ekonomi, Sveriges lantbruksuniversitet
    

UKÄ forskningsämne

Social Sciences
Economics and Business


Publikationens identifierare

DOI: https://doi.org/10.1111/j.1813-6982.2011.01273.x

Permanent länk till denna sida (URI)

https://res.slu.se/id/publ/46410