Determining the Relationship between Interest Rates and Inflation in Ghana and Their Impact on Economic Growth for the Period 2006- 2019 | Chapter 12 | Modern Perspectives in Economics, Business and Management Vol. 8

 Many emerging countries, particularly in Sub-Saharan Africa, have been plagued by excessive interest rates and inflation rates. The researcher wanted to know how these two variables interacted and what effect they had on Ghana's economic growth over the last 10 years. The price a borrower pays for the usage of money borrowed from a lender is called interest. The term interest rate comes from the fact that it is expressed as a percentage of the amount borrowed. Changes in interest rates were compared to changes in inflation rates over time. The coefficient of correlation between these variables was calculated using these figures. To see if there was a link between these two variables and the pace of economic growth over time, the changes in these two variables were compared to the rate of economic growth over time. The study found that interest rates and inflation rates in Ghana were positively associated and had a significant impact on the country's economic growth over the study period.

Author (S) Details

Dickson Akoto
Business School, Radford University College, Accra, P.O. Box AF 419 Adenta, Accra, Ghana.

View Book :- https://stm.bookpi.org/MPEBM-V8/article/view/3656

Study on Deficit Financing in Ghana and Its Impact on the Economy | Chapter 11 | Modern Perspectives in Economics, Business and Management Vol. 8

 Ghana's deficit financing has become an annual occurrence, owing to the country's failure to produce sufficient money to fund its budget. The researcher has been prompted to assess the situation's economic impact. In Ghana, deficit financing occurs when a country's spending exceeds its revenue for a set period of time, usually a year. According to the findings, the financing of Ghana's budget deficit and economic growth are negatively correlated. This suggests that deficit financing has harmed Ghana's economic growth during the study period. The research also revealed that budget deficit financing increased during Ghana's political election years, implying that politicians' overly ambitious agendas are one of the contributing factors to the country's budget deficits.

Author (S) Details

Dickson Akoto
Business School, Radford University College, P.O. Box AF 419 Adenta, Accra, Ghana.

View Book :- https://stm.bookpi.org/MPEBM-V8/article/view/3655