TITLE:
Analysis on the Contribution of Agricultural Sector on the Economic Development of Ghana
AUTHORS:
Priscilla Nyamekye Abban, Ze Tian, Fangfang Cheng
KEYWORDS:
Agricultural Output, Economic GDP Growth, Industrial Sector, Service Sector
JOURNAL NAME:
Open Journal of Business and Management,
Vol.9 No.3,
May
28,
2021
ABSTRACT: The study
empirically examines the impact of agricultural sector on the economic GDP growth of Ghana, using time series data from 1984 to
2018. The cointegration test results showed the non-existence of long-run
relationships existing between the overall GDP and agricultural output. In its
set-up, the
error correction method estimates the long-run relationship between economic
growth and agricultural output as well as fluctuation in the short-run. Based on the basic regression model,
agricultural output exhibits a significantly positive impact on the overall GDP growth of the
country. Similarly, the industrial and service sector also contributed
positively to overall GDP growth. The results indicate the need to promote value added agricultural export expansion
policies to achieve high economic GDP growth.