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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.
structural change
oil revenue
Dutch disease
intertemporal general equilibrium
Document Type:Working Paper
Appears in Collections:Kieler Arbeitspapiere, IfW
Publikationen von Forscherinnen und Forschern des IfW

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