Determinants of Ghana Trade Balance: A Cointegration and VDC Analyses. Implications for Policy Makers

      Аннотация: The trade balance in the economy helps to determine the macroeconomic performance of the economy like the balance of payment, investments and savings in both the developed and the developing economies, also it is a major constituent in the current accounts and so to the balance of payment in macroeconomic management. The progress of trade in a country enhances the international mutual benefits among regions and countries in promoting global development process. The adoption of the exchange rate mechanisms among countries helps in enhancing financial transactions hence inter-country(s) trading process in enhancing economic growth and improving the welfare of the people. This book findings highlight the effect of exchange rate on trade balance in Ghana among other factors that may affect the trade balance in the economy using the Johansen co-integration and variance decomposition analyses. This book provides a guide for economists and researchers who wish to find the lung-run and short-run relationships between this selected macroeconomics on trade balance. Also this book can bring awareness, even to the common public as well as to highly learned economists.

Ключевые слова: cointegration, trade balance, Unit Root Test, variance decomposition analysis