Gold Production and the Ghanaian Economic Performance

Salifu1, O. and Oladejo, N. K. and Adetunde, I. A. (2013) Gold Production and the Ghanaian Economic Performance. International Journal of Modern Management Sciences, 2 (1). pp. 26-47. ISSN 2168-5479

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Abstract

The paper investigates the contribution of gold production and export to the Ghanaian economy. In contract, our research findings demonstrate that, the availability of natural resources (gold) and its ability to attract foreign investment does not guarantee economic development. The establishment of appropriate institutions, mechanisms and policies would ensure efficient use of gold revenue for sustained economic growth. We identified vital policy options available to Ghana. Gold production could thus attract more foreign direct investment and contribute to the economic development of Ghana only on condition that appropriate gold revenue management policies are implemented.

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