Effect of exchange rate on inflation in the inflation targeting framework: Is the threshold level relevant?

The continuous depreciation of the exchange rate in Ghana has raised concern about its effect on inflation and the economy at large. This paper examines the threshold effect of exchange rate pass-through (ERPT) on inflation using a monthly data from January 2002 to December 2018. The relevance of the exchange rate threshold in the Taylor rule has also been examined. Using the threshold autoregressive (TAR) method, the results of the ERPT model revealed that exchange rate depreciation beyond a monthly threshold of 0.70% has a significant positive pass-through effect on inflation, which gives credence to the relevance of threshold level. The results of the monetary policy rule model also showed that regardless of the threshold level of 0.51%, the exchange rate significantly influences the monetary policy rate positively. Therefore, paying proper attention to the exchange rate in the policy rule despite the threshold (0.51%) will prevent the exchange rate depreciation from exceeding the optimal level (0.70%) and hence no ERPT on inflation. Based on these findings, it is suggested that monetary regulators should view the exchange rate at any level essential to adjust the policy rate

The effect of smallholder livestock production on income of farm households in Northern Ghana

This paper investigates the effect of smallholder livestock production on income among farm households in northern Ghana. Questionnaires were administered to 300 household heads and ordinary least squares estimation technique was applied to the dataset. The dependent variable was income and measured by total annual income received from farm and non-farm activities by household heads. The independent variable of interest was tropical livestock unit measured by flock size. We also included farm size, household size, gender, age, educational level, distance to market, dependency ratio and access to formal credit as control variables. We found that smallholder livestock production and farm size increase income whilst distance to market and dependency ratio reduce income. Based on evidence of the positive relationship between livestock pro-duction and household income in this paper, it is recommended that policies to promote smallholder livestock production should be embarked upon to increase income. This is likely to improve livelihood and reduce poverty among the poor rural folks in the northern regions of Ghana

Money supply, budget deficit and inflation dynamics in Ghana: An empirical investigation

The paper investigates the long run dynamics of money supply, budget deficit and inflation in Ghana. It also tests the validity of the classical, monetary and fiscal theories of price level within the vector error correction framework. Using quarterly data from 1999Q1 to 2019Q4, the paper employs Granger causality test and the vector error correction model (VECM) for the analysis. The results from the VECM show that budget deficit has a significant positive effect on inflation while money supply negatively affect it. By contrast, inflation exerts a positive and negative effect on budget deficit and money supply, respectively. The results from the impulse response function also indicate that inflation responds more positively to budget deficit shocks. However, it tends to respond negatively to money supply (M2) shocks. Also, budget deficit responds positively (negatively) to inflation (money supply [M2]) shocks. Furthermore, money supply responds positively (negatively) to budget deficit (inflation) shocks. Based on the weak exogeneity test, the result favours the fiscal theory of the price level in explaining the nexus between money supply, budget deficit and inflation in Ghana. A corollary of our results is that a reduction in government expenditure coupled with restrictive bureaucratic nature of government officials have the tendency of ensuring favourable and stable inflation in Ghana

The effect of smallholder livestock production on income of farm households in Northern Ghana

This paper investigates the effect of smallholder livestock production on income among farm households in northern Ghana. Questionnaires were administered to 300 household heads and ordinary least squares estimation technique was applied to the dataset. The dependent variable was income and measured by total annual income received from farm and non-farm activities by household heads. The independent variable of interest was tropical livestock unit measured by flock size. We also included farm size, household size, gender, age, educational level, distance to market, dependency ratio and access to formal credit as control variables. We found that smallholder livestock production and farm size increase income whilst distance to market and dependency ratio reduce income. Based on evidence of the positive relationship between livestock pro-duction and household income in this paper, it is recommended that policies to promote smallholder livestock production should be embarked upon to increase income. This is likely to improve livelihood and reduce poverty among the poor rural folks in the northern regions of Ghana

Households’ Fuel Wood Dependence, REDD+ and Gender Coping Strategies: An Empirical Review and Policy Implication in the Northern Region of Ghana

This paper reviewed existing literature on fuel wood dependence, REDD+ and gender coping strategies. Out of 180 sets of empirical studies in this domain, twenty five (25) were considered to have a bearing on our topic. The review showed that REDD+ policy in the Northern Region has not provided for REDD+ finance to curb the possible negative effects of the implementation of the programme. It is recommended that there should be a clear cut policy on REDD+ finance for those who depend on the forest. It is also recommended that there should enough public education for communities’ acceptance and integration.INTERNATIONAL JOURNAL OF ENVIRONMENTVolume-5, Issue-4, Sep-Nov 2016, page: 12-31</p

Factors influencing households’ participation in forest management in the northern region of Ghana

This study assessed the factors influencing households’ participation in forest management. The specific objective was to identify the determinants of households’ participation in forest management in the Northern Region of Ghana. The study used the purposive sampling to sample respondents from six (6) communities within the Tamale forest districts and the sample size was three hundred and seventy (370). The logistic regression result showed that, sex, age, household size, education, marital status, benefit and location of the forest influenced households’ participation in forest management. The results showed that, all the sociodemographic characteristics of the respondents were significant in determining participation in forest management. The study recommended that, the government of Ghana should intensify awareness creation and public education on the need for collaborative forest management between local communities and forest management staff

Factors influencing households’ participation in forest management in the northern region of Ghana

This study assessed the factors influencing households’ participation in forest management. The specific objective was to identify the determinants of households’ participation in forest management in the Northern Region of Ghana. The study used the purposive sampling to sample respondents from six (6) communities within the Tamale forest districts and the sample size was three hundred and seventy (370). The logistic regression result showed that, sex, age, household size, education, marital status, benefit and location of the forest influenced households’ participation in forest management. The results showed that, all the sociodemographic characteristics of the respondents were significant in determining participation in forest management. The study recommended that, the government of Ghana should intensify awareness creation and public education on the need for collaborative forest management between local communities and forest management staff

Foreign Direct Investment and child health outcomes in Africa

AbstractWhile several studies have examined the effect of Foreign Direct Investment (FDI) on economic development indicators, most of these studies focused on economic growth with very little attention paid to health outcomes. Moreover, among the studies that took account of health outcomes, none of them investigated the effect of FDI on child health outcomes across a sample of African countries. However, focusing on African countries is very important because sub-Saharan Africa (SSA) has the highest rate of child mortality in the world. This study, therefore, investigates the effect of FDI on child health outcomes in 39 African countries from 1980 to 2018. Neonatal and infant mortality rates are used to proxy child health outcomes. The baseline estimation technique employed is the Fixed Effects (FE) regression. However, to deal with potential endogeneity, we employ the system Generalised Method of Moments (GMM) regression as the robustness estimation technique. Our findings show that, FDI improves child health outcomes, especially through economic growth after controlling for endogeneity. Thus, in African governments’ quest to reduce child mortality, a major useful strategy could be attracting more FDI inflows