Primary-Export-Led Growth: The Evidence of Ghana

Abstract

This paper investigates empirically the causal relation between GNP growth and export growth for Ghana from 1960 to 1992. The theoretical framework has been the staple theory of growth which emphasises the crucial role of primary export(s) in the economic growth process. In particular, the staple theory stresses the linkages (backward, forward and final demand) of the staple export(s) with the rest of the economy. The paper performs the Granger (1969) causality test for Ghana. The results support the primary-export-led growth strategy for Ghana. In other words, the evidence in favour of export promotion is stronger than previous statistical studies have indicated. I.

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