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Oil Production and Performance of Ghana’s Manufacturing
Appiah, Jutta
Appiah, Jutta
Abstract
This paper investigates the effect of Ghana’s 2007 oil discovery and subsequent export in 2010 on the performance of the manufacturing sector. The analysis is conducted at the sector, industry and firm levels. This paper finds no clear evidence that oil exports undermined the performance of the manufacturing sector as predicted by the resource-curse hypothesis. Rather, it finds that certain industries responded positively to oil production better than others. Moreover, the production and export of oil seems to have minimized the foreign exchange constraints of the manufacturing sector at the industry level, allowing manufacturing firms to import intermediate goods for production. Finally, this paper provides some policy implications that will encourage industrialization in the presence of oil production.
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2021-05-01
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Economics