Mathematical controllability theory of the growth of wealth of nations

Chukwu, Ethelbert Nwakuche

doi:10.1515/9783110883237.2459

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“…As pointed out by Chukwu (1993), the equation which describes the dynamics of the growth of wealth of nations is given by The fact that there are no oscillations or fluctuations in the economy does not mean that everything is well with our economy. To the African Peer Review Mechanism (2005), the economy of Ghana remains relatively weak however; it is highly vulnerable to external shocks from the world economy and from sub-regional political instability due to factors originating in neighboring countries.…”

Section: Discussionmentioning

confidence: 99%

Analytic Study Of The Trend Of Ghanas GDP Before And After Re-basing

Sarpong

Boakye

Amponsah

et al. 2013

IBER

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The fourth republican constitution came into force in 1993. Ghana statistical Service also re-based Ghanas GDP in the same year. From 1993 to 2005, the average GDP growth rate was about 4.3%. Within the period of 1993 and 2005, Ghana was still below the lower middle income level. Another re-basing took place in 2006. It is now believed that we are in the lower middle income level. The study was conducted to develop mathematical models to predict the trend of Ghanas GDP before re-basing and after re-basing in 2006, use the models before and after re-basing to predict the future trend in Ghanas GDP growth, compare our GDP growth before re-basing and after re-basing, to determine whether or not, there are fluctuations in our GDP growth and predict Ghanas per capita income status in 2015. Data on Ghanas GDP were collected from the Statistical Service Department. The GDP figures from 1993-1995 and from 1996-2010 were plotted separately on graphs. A function whose graph best fits each trend was found using regression analysis. It was observed that Ghanas GDP trends before and after re-basing was exponential. There were also no fluctuations in the growth of the economy. Ghana may still be in the lower middle income status by 2015.

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Section: Discussionmentioning

confidence: 99%