Abstract
This paper investigates the effects of exchange rate distortion on economic growth in a Less Developed Country (LDC)—Ghana. Using time series data from Ghana and a five equation simultaneous model, we find that exchange rate distortion, as measured by the black market premium, has a deleterious effect on economic growth rate. The negative effect is imparted through reduced investment and a constriction of international trade. The results imply that liberalized exchange rate policies will enhance the growth prospects of LDCs, especially those in Sub-Saharan Africa. [F 31, O 55].
| Original language | English (US) |
|---|---|
| Pages (from-to) | 59-74 |
| Number of pages | 16 |
| Journal | International Economic Journal |
| Volume | 7 |
| Issue number | 4 |
| DOIs | |
| State | Published - Dec 1 1993 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth
All Science Journal Classification (ASJC) codes
- Economics, Econometrics and Finance(all)
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