ARCOM

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Adesi, M, Owusu-Manu, D and Boateng, F (2019) Segmentation of quantity surveying professional services for focus strategy and diversification. Journal of Financial Management of Property and Construction , 24(03), 294–308.

Bayat, F, Noorzai, E and Golabchi, M (2019) Identifying the most important public–private partnership risks in Afghanistan’s infrastructure projects. Journal of Financial Management of Property and Construction , 24(03), 309–37.

Dithebe, K, Aigbavboa, C O, Thwala, W D and Oke, A E (2019) Factor analysis of critical success factors for water infrastructure projects delivered under public–private partnerships. Journal of Financial Management of Property and Construction , 24(03), 338–57.

Enshassi, A, Saleh, N and Mohamed, S (2019) Application level of lean construction techniques in reducing accidents in construction projects. Journal of Financial Management of Property and Construction , 24(03), 274–93.

Mollo, L G, Emuze, F and Smallwood, J (2019) Improving occupational health and safety (OHS) in construction using Training-Within-Industry method. Journal of Financial Management of Property and Construction , 24(03), 655–71.

Owusu-Manu, D, Jehuri, A B, Edwards, D J, Boateng, F and Asumadu, G (2019) The impact of infrastructure development on economic growth in sub-Saharan Africa with special focus on Ghana. Journal of Financial Management of Property and Construction , 24(03), 253–73.

• Type: Journal Article
• Keywords: Infrastructure development; Economic growth; Autoregressive distributed lag (ARDL); Electricity-distribution losses; Electricity-generating capacity;
• ISBN/ISSN: 1366-4387
• URL: https://doi.org/10.1108/JFMPC-09-2018-0050
• Abstract:
  This paper aims to assess the impact of infrastructure development on Ghana’s economic growth.

  Using data obtained from the World Bank’s World Development Indicators, the United States’ (US) International Energy Statistics and the Central Intelligence Agency’s (CIA) Factbooks from 1980 to 2016, an autoregressive distributed lag (ARDL) framework is used to determine the long- and short-run impact of the selected infrastructure stock and quality indices on Ghana’s economic growth.

  Findings indicate a statistically significant relationship between infrastructure development and economic growth. Additionally, electricity-generating capacity is identified as the infrastructure stock index that has the greatest positive impact on Ghana’s economic growth. The study reveals that electricity-distribution loss has a significant negative effect over both long- and short-run periods.

  Commercial petroleum export from Ghana since 2010 has been a key contributor to economic growth. Although its aggregate effect is included in the annual GDP figures adopted for the study, the authors would have wished to assess its impact on GDP as an independent standard growth determinant. However, because of a lack of available data over this study period, petroleum exports could not be adopted as an independent standard growth determinant. Additionally, an aggregated index of infrastructure stock and quality could not be derived because of the small size of data available. Hence, this study did not assess its impact on Ghana’s economic growth.

  The research provides pragmatic guidance to policymakers to focus their efforts on expanding electricity-generating capacity while simultaneously taking steps to curb electricity transmission and distribution losses. These two related actions offer the greatest positive impact on infrastructure development and, as a consequence, Ghana’s economic growth.

  This paper represents the first attempt to empirically study the relationship between infrastructure development and Ghana’s economic growth. A key contribution to the existing body of knowledge includes strong evidence of a positive effect of infrastructure development upon Ghana’s economic growth. Results also reveal that the greatest positive impact on economic growth is derived from electricity-generation capacity. However, the study also uncovers a negative, but statistically significant, relationship between road and economic growth.

Parchami Jalal, M and Shoar, S (2019) A hybrid framework to model factors affecting construction labour productivity. Journal of Financial Management of Property and Construction, 24(03), 630–54.

Sharma, R K and Bakshi, A (2019) An evident prescience of determinants of dividend policy of Indian real estate companies. Journal of Financial Management of Property and Construction , 24(03), 358–84.