Does human capital constrain the impact of foreign direct investment and remittances on economic growth in Ghana?

Title: Does human capital constrain the impact of foreign direct investment and remittances on economic growth in Ghana?
Creator: Agbola, Frank Wogbe
Relation: Applied Economics Vol. 45, Issue 19, p. 2853-2862
Publisher Link: http://dx.doi.org/10.1080/00036846.2012.676735
Publisher: Routledge
Resource Type: journal article
Date: 2013
Description: This article empirically investigates whether human capital constrains the impact of Foreign Direct Investment (FDI) and remittances on economic growth in Ghana. An economic growth model for Ghana is specified and estimated using Fully Modified Ordinary Least Squares (FMOLS) estimator and employing annual data spanning the period 1965 to 2008. Empirical results indicate that FDI and remittances are key determinants of economic growth in Ghana. Results indicate that human capital enhances the impact of FDI and remittances on economic growth. Although both government expenditure and trade openness are growth-enhancing, government expenditure appears to crowd-out private investment. Empirical results also indicate that domestic inflationary pressures, unstable political environment and volatile global economy exert a negative impact on economic growth in Ghana.
Subject: foreign investment; human capital; remittances; economic growth; Ghana; C22; F43
Identifier: http://hdl.handle.net/1959.13/1057166
Identifier: uon:16143
Identifier: ISSN:1466-4283
Language: eng
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