{"title":"加纳的财政赤字与通货膨胀","authors":"Solomon Hanson Obeng, A. Abotsi","doi":"10.32479/ijefi.15116","DOIUrl":null,"url":null,"abstract":"The Ghanaian economy has been faced with persistent fiscal deficits over the years and this affects other macroeconomic variables like inflation. This study therefore empirically examines the effect of fiscal deficit on inflation in Ghana. The study deployed a quantitative research design technique, the Autoregressive Distributed Lag (ARDL) cointegration test, and vector error correction models using annual data spanning 1976 to 2019 with 44 observations. Findings revealed that there is a significant and negative short and long-run relationship between fiscal deficits and inflation in Ghana, with unidirectional causality running from inflation to fiscal deficit. The study recommends that the Government of Ghana should endeavour to finance fiscal deficits mostly through external sources and non-banking methods like the issuance of bonds at the foreign financial market since non-banking borrowing has low inflationary effects.","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2024-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Fiscal Deficits and Inflation in Ghana\",\"authors\":\"Solomon Hanson Obeng, A. Abotsi\",\"doi\":\"10.32479/ijefi.15116\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The Ghanaian economy has been faced with persistent fiscal deficits over the years and this affects other macroeconomic variables like inflation. This study therefore empirically examines the effect of fiscal deficit on inflation in Ghana. The study deployed a quantitative research design technique, the Autoregressive Distributed Lag (ARDL) cointegration test, and vector error correction models using annual data spanning 1976 to 2019 with 44 observations. Findings revealed that there is a significant and negative short and long-run relationship between fiscal deficits and inflation in Ghana, with unidirectional causality running from inflation to fiscal deficit. The study recommends that the Government of Ghana should endeavour to finance fiscal deficits mostly through external sources and non-banking methods like the issuance of bonds at the foreign financial market since non-banking borrowing has low inflationary effects.\",\"PeriodicalId\":30329,\"journal\":{\"name\":\"International Journal of Economics and Financial Issues\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2024-01-20\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Journal of Economics and Financial Issues\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.32479/ijefi.15116\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Economics and Financial Issues","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.32479/ijefi.15116","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The Ghanaian economy has been faced with persistent fiscal deficits over the years and this affects other macroeconomic variables like inflation. This study therefore empirically examines the effect of fiscal deficit on inflation in Ghana. The study deployed a quantitative research design technique, the Autoregressive Distributed Lag (ARDL) cointegration test, and vector error correction models using annual data spanning 1976 to 2019 with 44 observations. Findings revealed that there is a significant and negative short and long-run relationship between fiscal deficits and inflation in Ghana, with unidirectional causality running from inflation to fiscal deficit. The study recommends that the Government of Ghana should endeavour to finance fiscal deficits mostly through external sources and non-banking methods like the issuance of bonds at the foreign financial market since non-banking borrowing has low inflationary effects.
期刊介绍:
International Journal of Economics and Financial Issues (IJEFI) is the international academic journal, and is a double-blind, peer-reviewed academic journal publishing high quality conceptual and measure development articles in the areas of economics, finance and related disciplines. The journal has a worldwide audience. The journal''s goal is to stimulate the development of economics, finance and related disciplines theory worldwide by publishing interesting articles in a highly readable format. The journal is published Bimonthly (6 issues per year) and covers a wide variety of topics including (but not limited to): Macroeconomcis International Economics Econometrics Business Economics Growth and Development Regional Economics Tourism Economics International Trade Finance International Finance Macroeconomic Aspects of Finance General Financial Markets Financial Institutions Behavioral Finance Public Finance Asset Pricing Financial Management Options and Futures Taxation, Subsidies and Revenue Corporate Finance and Governance Money and Banking Markets and Institutions of Emerging Markets Public Economics and Public Policy Financial Economics Applied Financial Econometrics Financial Risk Analysis Risk Management Portfolio Management Financial Econometrics.