Let’s Break the Law: Transaction Costs and Advance Rent Deposits in Ghana’s Housing Market

A feature of the Ghana private rental accommodation market is that landlords usually demand advance rent of, in some instances, up to 5 years before signing a tenancy agreement. This is in violation of the 1963 Rent Act and recent initiatives are in the direction of curing this problem in the interest of protecting prospective tenants. However while advance rent is a financial burden this is offset by transaction costs in the housing market. Hence, in this paper and influenced by New Institutional Economics, I argue that it is possible for tenants and landlords to continue to bargain outside the shadow of the law to secure mutually beneficial tenancy agreements

Institutional Quality and Economic Growth in Tanzania

In this paper, we use the ARDL method to find the Impact of institutional quality on economic growth in Tanzania from 1990 to 2021. The ARDL technique frees variables from residual correlation as all variables are assumed to be endogenous. They distinguish between dependent and explanatory variables in any long-run relationship, identify the co-integrating vectors with multiple co-integrating vectors, and derive the Error Correction Model (ECM) or Error Correction Model (ECM) Vector Error Correction Model (VECM) by integrating short-run adjustments with long-run equilibrium without losing extended-run information.Our results show all adjustment terms in the respective models that have a long-run relationship have correct (negative) signs and are more than one, implying there is convergence in the long run; that is, the models returned to their long-run equilibrium; the rate (or speed) at which this happened ranged between 15% to 106.6% annually. Institutional quality has a significant affirmative (0.047) causal long-run effect on economic grow

The Impact of Gold Mining on Local Farming Communities in Ghana

The increase in leases for surface gold mining in Ghana between 1983 and 1998 has had drastic consequences for sustainable land use and management in the country. Most of these leases were for surface mining displacing the original owners from large arable land needed for their livelihoods. This situation makes the local people vulnerable to econom-ic uncertainties. The real benefits accruing to the ordinary Ghanaian in these mining communities is simply taken, for granted as monetary compensation is paid to affected community members. Such palliative payments to people displaced by mining activities do not address the existing vulnerabilities of these mining communities. This study looks at the effects of mining on households, but from the perspective of the needs expressed by individuals living in the mining area. Using descriptive survey research design, a total of 90 respondents were sampled for structured interviews. Furthermore, 27 focus group discussions with different demographic and occupational groups were organized in se-lected communities in the Tarkwa, Obuasi, and Kenyasi mining areas of Ghana. The needs of households identified in this study varied and included access to productive lands, education, and basic necessities of life. However, household needs have not trans-lated into higher levels of development as a result of mining. It is recommended that a proper cost benefits analysis be conducted when the potential for mineral mining is dis-covered in any area before the decision to mine. These analyses should go beyond just the economic indicators to social and development indicators, which include more quality of life issues