Text Tables II.1 State-Owned Enterprises Covered by the PSAC II.2 Number of State-Owned Enterprises Divested II.3 Sectoral Classification of Divested Enterprises II.4 Ownership of Financial Institutions II.5 Status of PSAC Implementation III. The Transmission Mechanism Between Money and Inflation in Ghana A. Introduction 1. Inflation and monetary growth - recent developments 2. Review of empirical models of inflation in Ghana B. The General Inflation Model and Data Description C. A Dynamic Econometric Model of Inflation in Ghana
foreign investment and technology transfer, helped enterprises operate more competitively. Most of the divested enterprises streamlined staff as new management took over. 1/ Divested enterprises were also subjected to market forces, so that, as government protection was withdrawn, the enterprises bore the full brunt of competition, including that from imported products. Thus, while increased production efficiency improved products or services and boosted selection, prices were raised to market levels. The direct impact of divestiture on wages and employment has been
for the preparation of information memoranda required to offer public enterprises for sale. A new divestiture procedures manual was introduced, and both the DIC and the private sector consultants were required to use the same standard procedures to divest enterprises. 163. Finally, the DIC set for the first time explicit targets for divestiture. Under the IDA PSAC approved in 1995, a list of 114 public enterprises were specified, of which 46 medium-sized and 64 small-sized enterprises were to be divested and 4 large and strategic ones were to be prepared for
, downsize the public sector, and refocus the role of the state in the economy. During 1989–92 only 59 state enterprises were divested, generating proceeds amounting to (¢21.7 billion (Table 7.1) . As a substantial number of the divested enterprises did not have a viable business, and many had negative net worth, 26 of them were liquidated (21 in 1990 alone) and yielded no proceeds. Aside from these liquidations, the overall pace of divestiture during this period was very slow. Factors that contributed to the lack of sales included weaknesses in the DIC, including the
context, several public enterprises have been divested--particularly in 1992-94--including the cement and steel plants. The participation of foreign ownership in the divested enterprises has brought increased market access, new technology and improved management. The removal of duty exemptions from products for the local market, the reduction in the level of tariffs, the elimination of import restrictions and the realignment of relative prices through devaluation have all encouraged manufacturers to move towards export-oriented activities. Export of cement as a percent
This Selected Issues paper and Statistical Annex examines the impact of cocoa taxation on cocoa supply in Ghana. The paper describes historical developments in cocoa production. The effects of the taxation of cocoa in Ghana are evaluated and a dynamic model of cocoa supply is estimated and used for simulations. The paper concludes that the most important factors adversely affecting the cocoa sector were government policies. Specifically, in the late 1960s and the 1970s, the effective cocoa duty rates were punitive and the cocoa sector was further hit by policies of overvalued exchange rate.
This Selected Issues paper and Statistical Annex examines the impact of cocoa taxation on cocoa supply in Ghana. The paper describes historical developments in cocoa production. The effects of the taxation of cocoa in Ghana are evaluated and a dynamic model of cocoa supply is estimated and used for simulations. The paper concludes that the most important factors adversely affecting the cocoa sector were government policies. Specifically, in the late 1960s and the 1970s, the effective cocoa duty rates were punitive and the cocoa sector was further hit by policies of overvalued exchange rate.