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UNPACKING THE RELATIONSHIP: FDI, ECONOMIC GROWTH, AND SERVICE SECTOR VALUE ADDITION IN GHANA
4
Institute of Entrepreneurship and Finance, Kumasi Polytechnic, Kumasi-Ghana
Abstract
This study delves into the intricate relationship between Foreign Direct Investment (FDI), economic growth, and service sector value addition in Ghana, aiming to provide insights into the dynamics shaping the country's economic landscape. Ghana has witnessed a surge in FDI inflows in recent years, particularly in the service sector, which has become a key driver of economic development. Through a comprehensive analysis of macroeconomic data and sector-specific trends, this research explores the impact of FDI on economic growth and the value addition within the service sector. Employing quantitative methods and econometric modeling, the study examines the causal relationships and dynamics among FDI, GDP growth, and service sector value addition. The findings shed light on the role of FDI in stimulating economic activity, fostering innovation, and enhancing productivity within the service sector, thereby contributing to overall economic growth and development in Ghana.
Keywords
Foreign Direct Investment (FDI),
Economic Growth,
Service Sector
References
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Alfaro, L., (2003). Foreign Direct Investment and Growth: Does the Sector Matter? Harvard University, Harvard Business School, Working Paper.
Antwi, S., Mills, E.F.E.A., Mills, G.A., and Zhao, X. (2013). Impact of foreign direct investment on economic growth: Empirical evidence from Ghana. International Journal of Academic Research in Accounting, Finance and Management Sciences Vol. 3, No.1, January 2013, pp. 18–25.
Balasubramanyam, V. N., Salisu, M., & Sapsford, D. (1999). Foreign Direct Investment as an Engine of Growth. Journal of International Trade and Economic Development, 8,27-40.
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Bende–Nabende, A., Ford, J.L, Santoso, B., & Sen, S. (2003). The interaction between FDI, output and the spillover variables: co-integration and VAR analyses for APEC, 1965-99. Applied Economic Letters, 10(3), 165-172.
Bengoa, M., & Sanchez-Robles, B. (2003). Foreign direct investment, economic freedom and Economic Growth: New Evidence from Latin America. European Journal of Political Economy Vol. 19 (2003) 529–545, Elsevier.
How to Cite
UNPACKING THE RELATIONSHIP: FDI, ECONOMIC GROWTH, AND SERVICE SECTOR VALUE ADDITION IN GHANA. (2023). Global Journal of Humanities and Social Sciences, 2(12), 01-07. https://doi.org/10.55640/gjhss-social-323
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