Ghana : An Analysis of Firm Productivity
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World, Washington, DC
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The focus of this study is an analysis
of firm productivity in Ghana, based on panel of firms
surveyed between 1996 and 2002, as well as other
information. The analysis focuses on identifying the drivers
of productivity and the factors behind the increasing in
formalization and the lack of expansion of firms in the
Ghanaian private sector. Based on this analysis, the
objective is to identify key hypotheses about the investment
climate, to be tested in the forthcoming investment climate
assessment for Ghana. This hypothesis testing will lead to
the identification of priority areas of the investment
climate that need to be reformed in order to achieve a
higher rate of growth in the private sector and the economy
as a whole. It will be argued in this study that more rapid
increases in income require an increase both in the rate of
investment and, of equal importance, in the returns on that
investment. A key element in meeting both those objectives
is a shift to private sector investment in export-oriented
activities. As recent data for Ghanaian growth shows the
growth rate of aggregate investment has been far higher than
that for consumption or exports.
Palabras clave
ACCESS TO CREDIT, AGRICULTURAL SELF-EMPLOYMENT, AGRICULTURE, AVERAGE PRODUCTIVITY, AVERAGE WAGES, BANK LOAN, BANK LOANS, BANKS, BARGAINING, BARGAINING POWER, BENCHMARK, BENCHMARKING, BORROWER, BORROWING, BUSINESS SUPPORT, CAPITAL COSTS, CAPITAL LABOR RATIO, CAPITAL MARKET, CAPITAL MARKETS, CAPITAL STOCK, COLLATERAL, COLLATERAL REQUIREMENTS, COMPETITIVENESS, CONSTANT RETURNS TO SCALE, CORRUPTION, COST OF CREDIT, CREDIT BUREAU, CREDIT BUREAUS, CREDIT CONSTRAINTS, CREDIT INFORMATION, CREDIT MARKET, CREDIT MARKETS, CREDIT REGISTRY, CREDIT WORTHINESS, CREDIT-WORTHINESS, DEBT, DEMAND CURVE, DEVALUATION, DRIVERS, EARNINGS, EMPLOYEE, EMPLOYERS, EMPLOYMENT GROWTH, EMPLOYMENT OPPORTUNITIES, ENTERPRISE DEVELOPMENT, EXCESS SUPPLY, EXCHANGE RATE, EXCHANGE RATES, EXPANSION, EXPENDITURE, EXPENDITURES, EXPORT MARKET, EXPORT-ORIENTED ACTIVITIES, EXPORTS, EXTERNAL FINANCING, FACTOR MARKETS, FARMER, FARMERS, FINANCIAL INFRASTRUCTURE, FINANCIAL MARKET, FINANCIAL SECTOR, FINANCING NEEDS, FINDING EMPLOYMENT, FIRING COSTS, FIRM GROWTH, FIRM LEVEL, FIRM PERFORMANCE, FIRM PRODUCTIVITY, FIRM SIZE, FIRM SIZE DISTRIBUTION, FIRM SURVEY, FIRM SURVEYS, FIRM-LEVEL ANALYSIS, FIRMS, FIXED COSTS, FOREIGN OWNERSHIP, FORMAL CREDIT, FORMAL LENDING, FULL EMPLOYMENT, GDP, GDP DEFLATOR, GDP PER CAPITA, GROWTH RATE, HOUSEHOLD SURVEY, HOUSEHOLD SURVEYS, HOUSEHOLDS, HUMAN CAPITAL, INCOME, INCREASING RETURNS, INCREASING RETURNS TO SCALE, INEFFICIENCY, INFLATION RATE, INFORMAL BORROWING, INFORMAL CREDIT, INFORMAL LOANS, INFORMAL SECTOR, INFORMATION ABOUT CREDIT, INFORMATION TECHNOLOGY, INTEREST RATE, INVESTMENT DECISION, JOBS, LABOR FORCE, LABOR MARKET, LABOR MARKET FLEXIBILITY, LABOR MARKET RIGIDITY, LABOR MARKETS, LABOR PRODUCTIVITY, LABOR REGULATIONS, LABOR SUPPLY, LABOUR, LARGE ENTERPRISES, LENDER, MACROECONOMIC SHOCKS, MICRO ENTERPRISE, MINIMUM WAGE, MOTIVATION, NOMINAL WAGES, OCCUPATION, OCCUPATIONAL CLASSIFICATION, OPERATING COSTS, OVERDRAFT, PAID WORKERS, PER CAPITA INCOME, PERSONAL SAVINGS, PRELIMINARY RESULTS, PRESENT EVIDENCE, PRICE CONTROLS, PRIMARY EDUCATION, PRIMARY REASON, PRIVATE CREDIT, PRIVATE ENTERPRISE, PRIVATE INVESTMENT, PRIVATE SECTOR, PRIVATIZATION, PROBIT EQUATION, PRODUCTION FUNCTION, PRODUCTION PROCESS, PRODUCTION WORKER, PRODUCTION WORKERS, PRODUCTIVITY, PROPERTY RIGHTS, PURCHASING POWER, PURCHASING POWER PARITY, RATES OF RETURN, REAL WAGE, REAL WAGES, REGULATORY FRAMEWORK, REGULATORY OVERSIGHT, RENTS, SAVINGS, SAVINGS ACCOUNT, SELF EMPLOYED, SELF-EMPLOYMENT, SIZE OF FIRMS, SKILLED LABOR, SKILLED WORKERS, SMALL FIRM, SMALL FIRMS, SMALL SCALE ENTERPRISES, SOURCES OF FINANCE, STATE ENTERPRISES, SUPPLIERS, TAXATION, TOTAL FACTOR PRODUCTIVITY, TOTAL LABOR FORCE, TRADE CREDIT, TRADE UNIONS, TRAINING INTENSITIES, UNEMPLOYED, UNEMPLOYMENT, UNION, UNSKILLED WORKERS, URBAN AREAS, WAGE DATA, WAGE EMPLOYMENT, WAGE GAIN, WAGES, WORKER, YOUNG WORKERS