APA Style
Osman, A. , Osman, A. Sebu, J. , Sebu, J. Iledare, O. O. , Iledare, O. O. Bondzie, E. A. , & Bondzie, E. A. (2023). Structural Vector Autoregressive Analysis of Crude Oil Price Shocks on Ghana’s Economy.
Current Research in Public Health, 3(1), 1-18.
https://doi.org/10.31586/ujfe.2023.442
ACS Style
Osman, A. ; Osman, A. Sebu, J. ; Sebu, J. Iledare, O. O. ; Iledare, O. O. Bondzie, E. A. ; Bondzie, E. A. Structural Vector Autoregressive Analysis of Crude Oil Price Shocks on Ghana’s Economy.
Current Research in Public Health 2023 3(1), 1-18.
https://doi.org/10.31586/ujfe.2023.442
Chicago/Turabian Style
Osman, Aminu, Aminu Osman. Joshua Sebu, Joshua Sebu. Omowumi O. Iledare, Omowumi O. Iledare. Eric Amoo Bondzie, and Eric Amoo Bondzie. 2023. "Structural Vector Autoregressive Analysis of Crude Oil Price Shocks on Ghana’s Economy".
Current Research in Public Health 3, no. 1: 1-18.
https://doi.org/10.31586/ujfe.2023.442
AMA Style
Osman A, Osman ASebu J, Sebu JIledare OO, Iledare OOBondzie EA, Bondzie EA. Structural Vector Autoregressive Analysis of Crude Oil Price Shocks on Ghana’s Economy.
Current Research in Public Health. 2023; 3(1):1-18.
https://doi.org/10.31586/ujfe.2023.442
@Article{crph442,
AUTHOR = {Osman, Aminu and Sebu, Joshua and Iledare, Omowumi O. and Bondzie, Eric Amoo and Salifu, Mubarik},
TITLE = {Structural Vector Autoregressive Analysis of Crude Oil Price Shocks on Ghana’s Economy},
JOURNAL = {Current Research in Public Health},
VOLUME = {3},
YEAR = {2023},
NUMBER = {1},
PAGES = {1-18},
URL = {https://www.scipublications.com/journal/index.php/UJFE/article/view/442},
ISSN = {2831-5162},
DOI = {10.31586/ujfe.2023.442},
ABSTRACT = {The paper analyses the extent to which crude oil price shocks impact GDP growth, exchange rate, interest rate and inflation of an emerging oil exporting economy, Ghana. The Structural Vector Autoregressive model is used to analyse the quarterly data from 2009q1 – 2020q4. The results showed that exchange rate and GDP growth respond positively but temporal to the impulse of crude oil price. In contrast, inflation and interest rate respond negatively to crude oil price shock. Specifically, the exchange rate appreciates in the initial quarter and begins to depreciate, whereas GDP growth experiences an increase in the first two quarters and also reduces afterwards. Crude oil price shocks to the Ghanaian economy follow the conventional behaviour of the impact of crude oil on macroeconomic indicators. The positive impact of the price shock on GDP growth and exchange rate is not much reflecting the fact that Ghana is an emerging oil-producing country with low production and export level. Ghana’s prospects in the oil and gas sector should not just be a mere hoax. Policies should be directed toward petroleum exploration and production efforts since the energy transition endanger benefits for future exploitation. Policies should be implemented to attract competitive players locally and internationally in the oil industry. The shock of crude oil prices is beginning to show evidence based on this study. Therefore government must consider recognising the importance of other economic sectors in order not be become heavily dependent on oil.},
}
%0 Journal Article
%A Osman, Aminu
%A Sebu, Joshua
%A Iledare, Omowumi O.
%A Bondzie, Eric Amoo
%A Salifu, Mubarik
%D 2023
%J Current Research in Public Health
%@ 2831-5162
%V 3
%N 1
%P 1-18
%T Structural Vector Autoregressive Analysis of Crude Oil Price Shocks on Ghana’s Economy
%M doi:10.31586/ujfe.2023.442
%U https://www.scipublications.com/journal/index.php/UJFE/article/view/442
TY - JOUR
AU - Osman, Aminu
AU - Sebu, Joshua
AU - Iledare, Omowumi O.
AU - Bondzie, Eric Amoo
AU - Salifu, Mubarik
TI - Structural Vector Autoregressive Analysis of Crude Oil Price Shocks on Ghana’s Economy
T2 - Current Research in Public Health
PY - 2023
VL - 3
IS - 1
SN - 2831-5162
SP - 1
EP - 18
UR - https://www.scipublications.com/journal/index.php/UJFE/article/view/442
AB - The paper analyses the extent to which crude oil price shocks impact GDP growth, exchange rate, interest rate and inflation of an emerging oil exporting economy, Ghana. The Structural Vector Autoregressive model is used to analyse the quarterly data from 2009q1 – 2020q4. The results showed that exchange rate and GDP growth respond positively but temporal to the impulse of crude oil price. In contrast, inflation and interest rate respond negatively to crude oil price shock. Specifically, the exchange rate appreciates in the initial quarter and begins to depreciate, whereas GDP growth experiences an increase in the first two quarters and also reduces afterwards. Crude oil price shocks to the Ghanaian economy follow the conventional behaviour of the impact of crude oil on macroeconomic indicators. The positive impact of the price shock on GDP growth and exchange rate is not much reflecting the fact that Ghana is an emerging oil-producing country with low production and export level. Ghana’s prospects in the oil and gas sector should not just be a mere hoax. Policies should be directed toward petroleum exploration and production efforts since the energy transition endanger benefits for future exploitation. Policies should be implemented to attract competitive players locally and internationally in the oil industry. The shock of crude oil prices is beginning to show evidence based on this study. Therefore government must consider recognising the importance of other economic sectors in order not be become heavily dependent on oil.
DO - Structural Vector Autoregressive Analysis of Crude Oil Price Shocks on Ghana’s Economy
TI - 10.31586/ujfe.2023.442
ER -
