Economics, Econometrics and Finance
4 years ago

Oil price fluctuations in Ghana lead to economic growth paradox.

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International Journal of Academic Research in Business and Social Sciences
Oil Price Fluctuations and it Impact on Economic Growth: A Dsge Approach.
Eric Amoo Bondzie, Giovanni Di Bartolomeo, Gabriel Obed Fosu

Paper Summary

The article explores how changes in oil prices and monetary policy affect economic growth in Ghana. Using a DSGE model tailored to Ghana's economy, the researchers found that lower interest rates lead to lower prices due to reduced costs. Surprisingly, negative interest rates do not increase the total money supply. Additionally, positive output shocks have similar effects on consumption, investment, prices, and wages as interest rate shocks.

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