Economic Development in Ghana and its Sustainability on Oil Sector

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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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ABSTRACT

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. The aim of this study is to analyze, how does Ghana address the issue of potential management of future oil revenue, and figure out the Ghana's oil policy and analyze where it is heading. This research is based on the secondary data. The research encompasses the publications, articles and similar studies accessible on the internet. Keeping in view the approach taken in earlier studies this research began with a broad analysis of the existing literature, and leads to discussion and conclusion, based on literature review. On the basis of this study, it can be concluded that, although Ghana has shown tremendous economic growth in past decades, due to the development of its oil and gas sector, still most pressing challenge lies in the power sector, where rapid demand growth and periodic hydrological shocks leave the country increasingly exposed to high cost oil based generation.

Table of contents

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

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 METHODOLOGY13

Data Collection Technique13

Research Design13

Search Technique14

Secondary Research15

CHAPTER 04: DISCUSSION AND ANALYSIS16

Sustainable Economic Expansion16

Aid and Reform in Macroeconomic Policy18

Impact of Macro Economic Policies20

Role of Fiscal and Monetary Policies22

Development of Agricultural Sector24

CHAPTER 05: CONCLUSION26

REFERENCES29CHAPTER 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 ...