Economic Development in Ghana and its Sustainability on Oil Sector

By

ACKNOWLEDGEMENT

I would like to take this chance for thanking my research facilitator, friends & family for support they provided & their belief in me as well as guidance they provided without which I would have never been able to do this research.



DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views & not essentially which are associated with university.

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Table of contents

ACKNOWLEDGEMENTii

DECLARATIONiii

CHAPTER 01: INTRODUCTION1

Background of the Study1

Aims and objectives of the study1

Research Questions1

Significance of the Study2

Outline of the Study2

CHAPTER 02: LITERATURE REVIEW4

Historical Perspective of Ghana Economy5

Economic Development in Ghana7

Sustainability of Ghana's Economy on Oil8

Significance of Ghana's Macroeconomic Stability in Africa9

Economic Reforms in Ghana10

CHAPTER 03: RESEARCH METHODOLOGY12

Data Collection Technique12

Research Design12

Search Technique13

Secondary Research14

Advantages of Secondary Research15

Disadvantages of Secondary Research15

Inclusion and exclusion criteria15

REFERENCES17

CHAPTER 01: INTRODUCTION

Background of the Study

The new oil boom in Africa comes with foreign oil companies pouring billions of dollars into the region, while African governments receive billions of dollars in revenues from oil in return. However, studies have proven that such economic benefits become insignificant when revenues are not channeled into human development and social services. In this study we analyze the process of economic development in Ghana and its sustainability on oil sector.



Aims and objectives of the study

Before starting on the course of the research, a researcher has to decide upon the aims and objectives of the research study, which would help the researcher in conducting the research. The aims and objectives act like a guide for the researcher through which the researcher can deduce research questions. The aims and objectives of this research study are as follows.

To find how does Ghana current and historical economic state speak to potential management of future oil revenue

To find out the Ghana's oil policy and where it is heading

To define implication of Ghana's oil exploration

Research Questions

The research questions act like a guiding tool for a researcher in the duration of a research. A researcher devises the research questions from the aims and objectives of the research and; therefore, in the end, it helps the researcher in meeting its aims and objectives of the research. The guiding research questions of this research study are defined below.

How can African countries like Ghana highlight the potential dangers of this current oil boom?

What are the social, political, and humanitarian development implications for Ghana?

What lessons can be drawn for Ghana and how can oil be used as a catalyst for sustainable development?

Significance of the Study

With the recent boom of oil, particularly in the Gulf region of Africa, West and Central Africa have been referred to as key players in global energy strategic terms. More importantly, this boom, as it relates to the energy security among the international community, has placed countries like Ghana, Angola, ...