Comparative analysis of asymmetric impact of cashew nuts and cocoa beans exports on Ghana’s economic growth: a non-linear ARDL approach
AbstractThe study applied the newly developed Non-linear Autoregressive Distributed Lag (NARDL) model by Shin et al. on annual data for Ghana from 1970 to 2019. Evidence of a long-run asymmetric cointegration relationship exists between cashew nuts exports, cocoa beans exports, and economic growth....
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2024-12-01
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| Series: | Cogent Economics & Finance |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/23322039.2023.2295193 |
| _version_ | 1797354348811911168 |
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| author | Ibrahim Abdul-Karim Osman Tahidu Damba |
| author_facet | Ibrahim Abdul-Karim Osman Tahidu Damba |
| author_sort | Ibrahim Abdul-Karim |
| collection | DOAJ |
| description | AbstractThe study applied the newly developed Non-linear Autoregressive Distributed Lag (NARDL) model by Shin et al. on annual data for Ghana from 1970 to 2019. Evidence of a long-run asymmetric cointegration relationship exists between cashew nuts exports, cocoa beans exports, and economic growth. Findings further revealed both cashew nuts and cocoa beans exports have a positive impact on Ghana’s economic growth in the long-run in support of the export-led growth theory. However, the impact of cocoa bean exports is greater than that of cashew nuts exports on the economic growth of Ghana. The Granger causality test revealed the existence of a unidirectional (one-way) causality running from economic growth to both the cashew nuts and cocoa beans exports. Government and policy makers should therefore continue to encourage and promote agricultural export growth to spur the economic development of Ghana. Also, policies and measures geared towards exchange rate stability by the government and Bank of Ghana should be promulgated and implemented to propel economic growth and export expansion in Ghana. |
| first_indexed | 2024-03-08T13:49:09Z |
| format | Article |
| id | doaj.art-400eceeed3074d41bb2ba1a4facfcda0 |
| institution | Directory Open Access Journal |
| issn | 2332-2039 |
| language | English |
| last_indexed | 2024-03-08T13:49:09Z |
| publishDate | 2024-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Economics & Finance |
| spelling | doaj.art-400eceeed3074d41bb2ba1a4facfcda02024-01-16T06:48:23ZengTaylor & Francis GroupCogent Economics & Finance2332-20392024-12-0112110.1080/23322039.2023.2295193Comparative analysis of asymmetric impact of cashew nuts and cocoa beans exports on Ghana’s economic growth: a non-linear ARDL approachIbrahim Abdul-Karim0Osman Tahidu Damba1Department of Agricultural and Food Economics, Faculty of Agriculture, Food and Consumer Sciences (FoAFCS), University for Development Studies, Tamale, GhanaDepartment of Agricultural and Food Economics, Faculty of Agriculture, Food and Consumer Sciences (FoAFCS), University for Development Studies, Tamale, GhanaAbstractThe study applied the newly developed Non-linear Autoregressive Distributed Lag (NARDL) model by Shin et al. on annual data for Ghana from 1970 to 2019. Evidence of a long-run asymmetric cointegration relationship exists between cashew nuts exports, cocoa beans exports, and economic growth. Findings further revealed both cashew nuts and cocoa beans exports have a positive impact on Ghana’s economic growth in the long-run in support of the export-led growth theory. However, the impact of cocoa bean exports is greater than that of cashew nuts exports on the economic growth of Ghana. The Granger causality test revealed the existence of a unidirectional (one-way) causality running from economic growth to both the cashew nuts and cocoa beans exports. Government and policy makers should therefore continue to encourage and promote agricultural export growth to spur the economic development of Ghana. Also, policies and measures geared towards exchange rate stability by the government and Bank of Ghana should be promulgated and implemented to propel economic growth and export expansion in Ghana.https://www.tandfonline.com/doi/10.1080/23322039.2023.2295193Asymmetric impactcashew nuts exportscocoa beans exportseconomic growthnon-linear autoregressive distributed lagChristian Nsiah, Baldwin Wallace University, United States |
| spellingShingle | Ibrahim Abdul-Karim Osman Tahidu Damba Comparative analysis of asymmetric impact of cashew nuts and cocoa beans exports on Ghana’s economic growth: a non-linear ARDL approach Cogent Economics & Finance Asymmetric impact cashew nuts exports cocoa beans exports economic growth non-linear autoregressive distributed lag Christian Nsiah, Baldwin Wallace University, United States |
| title | Comparative analysis of asymmetric impact of cashew nuts and cocoa beans exports on Ghana’s economic growth: a non-linear ARDL approach |
| title_full | Comparative analysis of asymmetric impact of cashew nuts and cocoa beans exports on Ghana’s economic growth: a non-linear ARDL approach |
| title_fullStr | Comparative analysis of asymmetric impact of cashew nuts and cocoa beans exports on Ghana’s economic growth: a non-linear ARDL approach |
| title_full_unstemmed | Comparative analysis of asymmetric impact of cashew nuts and cocoa beans exports on Ghana’s economic growth: a non-linear ARDL approach |
| title_short | Comparative analysis of asymmetric impact of cashew nuts and cocoa beans exports on Ghana’s economic growth: a non-linear ARDL approach |
| title_sort | comparative analysis of asymmetric impact of cashew nuts and cocoa beans exports on ghana s economic growth a non linear ardl approach |
| topic | Asymmetric impact cashew nuts exports cocoa beans exports economic growth non-linear autoregressive distributed lag Christian Nsiah, Baldwin Wallace University, United States |
| url | https://www.tandfonline.com/doi/10.1080/23322039.2023.2295193 |
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