000			01822nam a2200241 4500
999			_c49629 _d49629
003			OSt
005			20180419161259.0
008			180419b ||||| |||| 00| 0 eng d
100			_aObeng, Samuel Kwabena _931223
245			_aDemocracy, Globalization and Private Investment in Ghana
300			_a1–20 P.
520			_aThe article examines the effects of democracy and globalization on private investment in Ghana for the period 1980–2012, using the autoregressive distributed lag (ARDL) bounds test for cointegration and the error correction model (ECM). Two models are used. In Model 1, democracy is proxy by an index for institutional quality (Polity 2), while Model 2 uses an index for civil liberties as proxy for democracy. The results for Model 1 show globalization and public investment increase private investment, while exchange rate volatility and trade openness decrease private investment in both the long and short run. In addition, national income and interest rate reduce private investment in the short run. In the case of Model 2, credit to the private sector and public investment increase private investment, while exchange rate volatility and trade openness decrease private investment in both the long and short run. Finally, national income and interest rate reduce private investment in the short run. The findings and policy recommendations of the article provide vital information for policy implementation in Ghana.
653			_aDemocracy
653			_aglobalization
653			_aprivate
653			_ainvestment
653			_aARDL
653			_aECM
700			_aAkoto, Linda _931224
700			_aAcquah, Felicia _931225
773	0		_029349 _970278 _aBANIK, ARINDAM _dNEW DELHI SAGE PUBLISHING PVT. LTD. _o5558623 _tGLOBAL BUSINESS REVIEW _x0972-1509
942			_2ddc _cJA-ARTICLE