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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Inflation-Growth Trade-Off in an Export-Oriented Rural Economy: The case of Ghana
Authors:Pourgerami, Abbas
Djeto, Assane
Year:1989
Periodical:Eastern Africa Economic Review
Volume:5
Issue:1
Pages:32-41
Language:English
Notes:biblio. refs., ills.
Geographic terms:Ghana
West Africa
Subjects:inflation
economic recession
household income
Economics and Trade
Economics, Commerce
Macroeconomics
economic development
Abstract:The economy of Ghana has been suffering from prolonged and severe stagflation. During 1960-1986, a negative rate of income growth was accompanied by a high rate of inflation. Estimation results of an inflation-growth model indicate the existence of a strong and significant trade-off between inflation and output growth. In this model, expectations are formed for the unobservable price and income variables. Results are improved when an information set containing politico-economic variables is added to the history of income and price variations. Bibliogr., notes.