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Title:Can oil-led growth and structural change go hand in hand in Ghana? A multi-sector intertemporal general equilibrium assessment PDF Logo
Authors:Breisinger, Clemens
Diao, Xinshen
Wiebelt, Manfred
Issue Date:2012
Series/Report no.:Kiel Working Paper 1784
Abstract:Unlike in Asia, the manufacturing sector has not (yet) become a driver of structural change in Africa. One common explanation is that the natural resource-focus of many African economies leads to Dutch disease effects. To test this argument for the case of newly found oil in Ghana we develop a multi-sector intertemporal general equilibrium model with endogenous savings and investment behavior. Results show that in addition to the well-known short-term Dutch disease effects, long-term structural effects can indeed impede Asian-style economic transformation in Ghana (and other resource rich countries). We also demonstrate how oil wealth may go hand in hand with structural change in the future.
Subjects:transformation
growth
structural change
oil revenue
Dutch disease
Ghana
intertemporal general equilibrium
JEL:C68
D58
D90
F43
O11
O41
O55
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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