Sector Reports

Sector Reports

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Sector Reports
The importance of the fisheries sector in the socio-economic development of the country cannot be overemphasised. With a marine coastline of 550 kilometres stretching from Aflao in the East to Half Assini in the West, the fishing industry plays a major role in sustainable livelihoods and poverty reduction in several households and communities.
One of the key developments in the world economy during the last few decades has been the growing international mobility of capital.An element in this process has been the growth of offshore finance.
Standard economic theory suggests that markets are often the most efficient institutions for the allocation of scarce resources, because they clear to adjust demand and supply, and hence any rent opportunities would be arbitraged away. However in reality, there are frictions, unobservable characteristics, adjustment costs, different expectations, and probably discrimination in markets that tend to drive market equilibrium away from efficient allocation.
The tourism industry has contributed significantly to the country’s economy, particularly in recent times, as the sector continues to demonstrate its potential as a key driver of growth.
Contrary to the apparent neglect in mainstream macroeconomic analyses in the past, the housing market has become important and strategic to policy makers in recent times due to its impact on output fluctuations and inflation. Generally, activities in the housing industry may affect the well being of a people in terms of size and composition of household wealth, accessibility to credit, labour productivity, employment and other macroeconomic variables
The paper argues that microfinance, when properly harnessed can make significant contributions through several channels. Microfinance can promote higher investment leading to economic empowerment, which in turn promotes confidence and self-esteem, particularly for the vulnerable. In other words, micro- finance creates access to productive capital for the poor, which together with human (addressed through education and training) and social capital (achieved through local organization building), enables people to move out of poverty. The study recommends that, efforts must be geared towards the improvement of the institutional capacity as well as the regulatory framework of the microfinance sector in Ghana.
This paper investigates the effect of HIPC debt relief on external debt repayments and its impact on Ghana’s poverty reduction strategy. The study has revealed that debt relief has really impacted positively on Ghana’s external debt repayments and has therefore reduced the debt-servicing burden that plagued the country over the years. The study further divulged that there has been a marked increase in spending on social services in Ghana after the launch of HIPC Initiative and these pattern of spending turned to be pro-poor.
This paper presents Balance of Payments (BOP) estimates of private unrequited transfers (remittance figures) for Ghana and addresses part of the information gaps on the size of remittance flows.
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