THE IEA P-TRAC INDEX REPORT – 2014 (FULL REPORT)
IEA
Feb 2016
The IEA initiated the P-TRAC Index project in 2011 to monitor transparency and accountability in the management of Ghana's oil and gas resources. This is the IEA's on-going contribution to the policy debate in Ghana. The Index focuses on four key aspects of the management of oil and gas revenues 􀀀 Revenue Transparency, Expenditure Transparency, Contract Transparency and the Ghana Petroleum Funds (GPFs). Transparency in each of these areas is assessed on the basis of a series of questions. The P-TRAC Index is constructed as a simple average of the questions for each of these four components. Benchmarked against the previous two P-TRAC reports, this year's report allows us to assess how much progress has been made in enhancing transparency and accountability in Ghana's oil and gas industry. The findings from this year's assessment are summarized below. ...
THE IEA PETROLEUM TRANSPARENCY AND ACCOUNTABILITY (P-TRAC) INDEX 2012 REPORT
IEA
Feb 2014
Natural resources such as petroleum can be a blessing or a curse for developing countries depending on how they are managed. On the positive side, the discovery of substantial reserves of petroleum in Ghana presents a unique opportunity for the government to use the revenues to fast track plans to lift the country out of poverty and cement itself among the ranks of middle income countries. But on the negative side, failure to adequately manage the revenues could lead to the 'resource curse', which among other things could even result in the worsening of the living conditions of the people. Ghana is fortunate in the sense that, in anticipation of being an oil producer, it has learned lessons from countries that have managed their oil resources well and from those that have not fared so well. ...
Tracking Transparency and Accountability in Ghana’s Oil and gas Industry
IEA
Jul 2012
Natural resources such as petroleum can be a blessing or a curse for developing countries depending on how they are managed. On the positive side, the discovery of substantial reserves of petroleum in Ghana presents a unique opportunity for the government to use the revenues to fast-track plans to lift the country out of poverty and cement itself amongst the ranks of middle income countries. But on the negative side, failure to adequately manage the revenues could lead to the 'resource curse', which among other things could even result in the worsening of the living conditions of the people. ...
High Interest Rates In Ghana
DR. J. K. KWAKYE
Jul 2010
The high level of Ghana's interest rates has continued to be a source of concern in the country. Even as some measure of macroeconomic stability has been achieved in the past and recently, interest rates have generally remained stubbornly high. The importance of the subject and the need to fill an obvious public information gap motivated this paper. The first to be explained is the existence of different interest rates and point out how they may be related. This will be followed by a discussion of the principal actors in the markets and how they influence interest rates. The next section will enumerate the economic costs of high interest rates ...
THE GHANA POLICE SERVICE (GPS): A PRACTICAL AGENDA FOR REFORM
DR. RAYMOND ATUGUBA
Jul 2007
The historical and cultural context in which an institution develops defines that institution. Various survey reports and Commissions of Enquiry have noted the need for an institutional reform of the Ghana Police Service. To reform any institution, the institutional form produced by various constituencies as they played out within that institution in the context of politico-socio-economic changes, eventualities, and accidents over time,must be determined. The patterns that emerge, together with the patterns produced by countervailing forces, are key to the enduring character of institutional forms, the reason for their dysfunction can contain possibilities for their reform. Over the years, proposals for reform of the Ghana Police Service have been developed on an abstract level, such that institutional innovation is unduly circumscribed, as it is assumed away, constrained, constricted or subsumed under the various categories of abstraction. Rather than imprison the agenda for institutional innovation in the interstices of a conceptual framework, this paper provides a practical guide for the reform of the GPS with contextually rational explanations for each step proposed. Essentially, this Policy Analysis argues for alternatives to the various reform agenda already available. Contrary to conservative or traditional views that the 'system' has a certain organism which preserves a precariously balanced arrangement and will thus malfunction if it is tampered with, the author is convinced that it is possible to effectively reform the service into an institution that meets the law and order needs of the ordinary Ghanaian. ...
WHAT FACTORS HAVE INFLUENCED ECONOMIC GROWTH IN GHANA?
Kwabena A. Anaman
Dec 2006
Ghana was the first country in Sub-Saharan Africa to gain political independence from European colonial powers in the 20th century. Since independence, the country has undergone major economic transformation and development. This has witnessed the setting up of educational facilities, rapid improvement of transportation infrastructure,the establishment of the port city of Tema and the development of the Akosombo hydroelectric dam, which was to be the cornerstone of Ghana's industrialization. Modest industrialization based on import substitution was the core government strategy. The economy of Ghana has traditionally been dependent on the export of cocoa and minerals, especially gold. A major characteristic of the Ghanaian economy, was the declining per capita GDP. This Policy Analysis examines some of the factors responsible for this, including the high rate of population growth and the period of political instability between 1966-1983, during which the economy grew at an average rate of 0.33%. In this publication, the author uses a neo-classical economic growth model to identify the major factors that have significantly influenced long-run economic growth. This is useful as it indicates to policy makers the choice of strategies to accelerate growth given the unique historical and economic conditions of Ghana. ...
Economic Growth, Expanding Role of Government, and Fiscal Policy in Ghana: 1965-2004
Edward E. Ghartey
Jun 2006
There are competing theories about the relationship between government expenditures and economic growth. One of these, its leading proponent being Adolf Wagner, contends that as economies develop and grow, their expenditures on public services and regulation also increase at an even higher rate. Among the reasons for this observation is that as economies grow, the role of government and its expenditures increase even faster because population in urban areas increases which in turn places a greater demand on social amenities such as road networks, electricity, pipe borne water and sanitation services. Wagner therefore sees economic development and growth as a factor that causes a more than proportionate growth in government expenditure. Keynes, on the other hand,suggests that growth in government expenditure causes economic growth and development. it is in the light of these two views that this paper assesses whether Ghanaian economy between 1965-2004 exhibits the characteristics of either theorists. The study examines the causal relationship between government expenditures and tax receipts and analyses the empirical data to determine whether increases in government expenditures cause increases in tax receipts or increases in tax receipts rather cause increases in government spending. ...
NEPAD AND AFRICA’S LEAKING BEGGING BOWL
George B.N. Ayittey
Feb 2006
On February 5, 2002, the British Prime Minister, Tony Blair, warned that un- less poverty in Africa is tackled vigor- ously, the continent could become the new source of international terrorism. "More states would collapse into anarchy and mayhem," he added (BBC World Service, February 6,2002). Sweeping aside criticisms of his globetrotting, the Prime Minister issued a warning that "the West could face new terrorist ...
What has been the Impact of Foreign Direct Investment in Ghana?
Dr. John Asafu-Adjaye
Sep 2005
Beginning from a general mistrust of foreign direct investment (FDI) in the 1960s and early 1970s, developing country governments have now come to embrace it warmly within the last two decades or so. The growing interest in FDI is not only a result of globalization but also a consequence of the steady decline in official development assistance. Developing country share of FDI has increased from a paltry 5% in 1980 to 36% in 2004 (UNCTAD, 2005). Foreign direct investment is now viewed as a source of capital and a major tool in the fight against poverty. It is also viewed as a catalyst for technology transfer from the developed to developing countries. According to economic theory, international capital inflows, inter alia, promote efficient allocation of resources, which in turn enhances economic growth. ...
Ghana Developing Through Law
Raymond A. Atuguba
Aug 2005
In this paper, the author takes cognisance of all the broader issues that are Africa's developmental problematique, but consciously descends from "the global and continental" to "the national" and from "meta-issues of Africa Development" to "making social progress in Ghana". In this way the author hopes to isolate for discussion at a very practical level, a number of issues that hinder Ghana’s social progress. It may be argued that it is practically impossible to make "social progress in Ghana" without addressing issues of global power-play and the diminutive role of Africa in the scheme of affairs. Yet, it may be counter-argued that an examination and appreciation of the micro-issues of development that is temporarily divorced from the meta-issues is valuable in and of itself. This way, the exact contours of the micro-issues and the precise points of interconnectivity with the macro-issues of development may be isolated for analysis and redress. From a fairly long list of core-issues, the author isolates for discussion the following: 1. Limited appreciation of the process of development. 2. The central role of law in development. 3. Limited 0ptions and technologies for dealing with discrimination on gender, ethnic and other grounds. 4. Sub-optimal appreciation and enforcement of constitutional (and other legal) principles. 5. Human Rights and the developments ...