Date of Award

2019

Document Type

Open Access Master's Thesis

Degree Name

Master of Science in Applied Natural Resource Economics (MS)

Administrative Home Department

School of Business and Economics

Advisor 1

Gary Campbell

Advisor 2

Emanuel Xavier-Oliveira

Committee Member 1

Susan Amato-Henderson

Abstract

Based on the statistical analysis of 920 observations covering forty-six countries during the 1997 to 2016 period, this study investigates the impact of goldmining on the economic performance of African nations while paying particular attention to the case of Ghana. It employs the GDP’s output approach to evaluate the role that gold production may have played on GDP growth at the aggregate and per capita levels, as well as potential spillover effects across the services, industry and agriculture sectors. The empirical results for the African economies as a whole as well as for the country of Ghana in particular, suggest that gold production had a positive impact on GDP growth, both at the aggregate and per capita levels, however a more granular analysis indicates that gold mining may have buffered industrial production while concurrently augmenting output in the services sector. These potential trade-offs have important implications for policy making in African economies and the related challenge of easing an optimal allocation of resources that may foster economic growth and development

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