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 The contribution of oil to the economic development of Ghana: the role of foreign direct investments (FDI) and government policies
University West, Department of Economics and IT, Division of Business Administration.
University West, Department of Economics and IT, Division of Business Administration.
2010 (English)Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

Crude oil can attract a lot of investments and development into a country but when not managed well can as well cause a lot of destruction and conflict. Like fire, crude oil is a good servant but can be a bad master too depending on how it is handled. Using Dunning‟s eclectic paradigm, a positive relationship between foreign direct investment and locational attraction was established. Of the two components within the locational attraction, natural resource attracts more foreign direct investment than market size in the case of Africa. It was established through our case study of Angola that oil attracts foreign direct investment because oil is a location attraction which attracts foreign firms. These investments on the other hand contribute to the productive capacity of the receiving country thus stimulating economic development. However, the availability of natural resources (oil) and its ability to attract foreign investment does not guarantee economic development. The establishment of appropriate institutions, mechanisms and policies would ensure efficient use of oil revenue for sustained economic growth. We identified vital policy options (the Fund mechanism and spending rule) available to Ghana , with inference from Norway, which could help evade the „Dutch Disease‟. Oil production could thus attract more foreign direct investment and contribute to the economic development of Ghana only on condition that appropriate oil revenue management policies are implemented.

Place, publisher, year, edition, pages
2010. , 69 p.
Keyword [en]
Foreign Direct Investment, oil revenue, government policy
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hv:diva-2605OAI: oai:DiVA.org:hv-2605DiVA: diva2:331510
Presentation
(English)
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2010-08-11 Created: 2010-07-22 Last updated: 2010-08-11Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf