## Ghana: Will it Be Gifted or Will it Be Cursed?

_IMF Working Papers, May 1, 2011_

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## Bibliographic details
- Authors: Burcu Aydin
- Published: May 1, 2011
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781455260393.001

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### Summary and central question
- Will Ghana’s oil production from 2011 accelerate progress toward middle-income status, or will it retard gains in living standards through a possible "resource curse"?
- The paper examines the likelihood of "resource curse" effects for countries in Ghana’s income range.

### Data, methods, and scope
- Dataset: 150 low and middle income countries.
- Time coverage: 1973 to 2008.
- Methods: static and dynamic panel estimation techniques.

### Main findings
- Results confirm that resource rich countries in Ghana’s income range do experience slower growth than their more diversified peers.
- The observed slower growth effect appears to be related to weaker governance.
- Provided that Ghana can preserve and improve its economic governance and also strengthen fiscal management, prospects look good for converting its oil wealth into sustained strong economic growth.

### Policy implications and recommendations
- Preserve and improve economic governance.
- Strengthen fiscal management.
- These measures are presented as conditions under which oil wealth could be converted into sustained strong economic growth for Ghana.

### Publication and metadata
- Author: Burcu Aydin
- Publication date: May 1, 2011
- Series: Working Paper No. 2011/104
- Issue: 104
- Volume: 2011
- Pages: 41
- DOI: https://doi.org/10.5089/9781455260393.001
- Stock No: WPIEA2011104
- ISBN: 9781455260393
- ISSN: 1018-5941

### Subjects and keywords
- Subject: Environment, Fiscal policy, Fiscal stance, International trade, National accounts, Natural resources, Personal income, Poverty, Terms of trade
- Keywords: Africa, coefficient estimate, Fiscal stance, Ghana, Global, growth, Middle East, Natural resources, oil wealth, panel data, panel estimation method, per capita income, Personal income, poverty trap, resource curse, resource-rich, Terms of trade, WP

*Source: IMF Working Papers — Burcu Aydin. "Ghana: Will it Be Gifted or Will it Be Cursed?", May 1, 2011.*

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/31/ghana-will-it-be-gifted-or-will-it-be-cursed-24830_