Strukturwandel Und Nachhaltigkeit Des Wirtschaftswachstums

This book deals with the economic growth of Ghana and examines how structural change affects its sustainability. Analyzing annual data from 1975 to 2016, the results show a deviation from conventional structural change models: agriculture is declining, while mining, construction, and the service sector are growing, and the contribution of manufacturing to GDP is stagnating. Using ARDL regression, positive impacts on the sustainability of growth are identified from the production shares of agriculture and manufacturing, but negative impacts arise from the production shares of the service sector and mining/construction. The book advocates for a policy shift to counteract deindustrialization in Ghana by fostering an environment that encourages private investments in manufacturing and makes it a driver of the service sector. Due to the lower positive coefficient for the sustainability of growth and the challenges posed by debt overhang, cautious borrowing from abroad is crucial.