Examining the correlation between agricultural exports and economic growth, a study was carried out in Ghana at the disaggregate level using the Autoregressive Distributed Lag (ARDL) model with yearly time series data spanning from 1990Q1-2011Q4 to advise policy makers on the dynamics of growth. Both the long-run and the short-run results reveal that, cocoa export has a positive and significant impact on economic growth whiles the export of pineapple and banana ha s negative effect on economic growth even though pineapple export is not significant in both long run and short run. In addition, the study found unidirectional causality running from banana to economic growth, a bi-directional causal relationship between cocoa export and economic growth and no causality between economic development and pineapple export in Ghana. As a result, the study recommends that the performance of Ghana Export Promotion Authority and Ghana Free Zones Board should be made public in other to grab the awareness of foreign investors, and by so doing, it would provide access to global markets to Ghanaian exporters. There is also the need for the government of Ghana to bring into force structural changes which will ensure that additional values are added to them hither to their exportation.
Kubey, R. and Csikszentmihalyi, M. (2013) Television and the Quality of Life: How Viewing Shapes Everyday Experience. Routledge, Abingdon-on-Thames.
Afonso, ó. (2001) The Impact of International Trade on Economic Growth. CEMPRE Working Paper, University of Porto, Portugal.
Gilbert, N.A., Linyong, S.G. and Divine, G.M. (2013) Impact of Agricultural Export on Economic Growth in Cameroon: Case of Banana, Coffee and Cocoa. International Journal of Business and Management Review, 1, 44-71.
Njimanted, G.F. and Aquilas, N.A. (2015) The Impact of Timber Exports on Economic Growth in Cameroon: An Econometric Investigation. Asian Journal of Economic Modelling, 3, 46-60. https://doi.org/10.18488/journal.8/2015.3.3/8.3.46.60
Ben-Amor, R., Aguayo, E. and de Miguel-Gómez, M.D. (2015) The Competitive Advantage of the Tunisian palm Date Sector in the Mediterranean Region. Spanish Journal of Agricultural Research, 13, 0101. https://doi.org/10.5424/sjar/2015132-6390
Hyunsoo, K. (2015) Agricultural Exports and Economic Growth: Empirical Evidence from the Major Rice Exporting Countries. Agricultural Economics (ZemědělskáEkonomika), 61, 81-87.
Verter, N. and Becvárová, V. (2016) The Impact of Agricultural Exports on Economic Growth in Nigeria. Acta Universitatis Agriculturaeet Silviculturae Mendelianae Brunensis, 64, 691-700. https://doi.org/10.11118/actaun201664020691
Wang, M. (2009) Manufacturing FDI and Economic Growth: Evidence from Asian Economies. Applied Economics, 41, 991-1002. https://doi.org/10.1080/00036840601019059
Beugelsdijk, S., Smeets, R. and Zwinkels, R. (2008) The Impact of Horizontal and Vertical FDI on Host’s Country Economic Growth. International Business Review, 17, 452-472. https://doi.org/10.1016/j.ibusrev.2008.02.004
Lin, J.Y. (2013) Demystifying the Chinese Economy. Australian Economic Review, 46, 259-268. https://doi.org/10.1111/j.1467-8462.2013.12035.x
Lee, K. (2013) Schumpeterian Analysis of Economic Catch-Up: Knowledge, Path-Creation, and the Middle-Income Trap. Cambridge University Press, Cambridge.
Shen, X. (2015) Private Chinese Investment in Africa: Myths and Realities. Development Policy Review, 33, 83-106. https://doi.org/10.1111/dpr.12093
Alhajhoj, H. (2007) Exports and Economic Growth in Saudi Arabia: A VAR Model Analysis. Journal of Applied Sciences, 7, 3649-3658. https://doi.org/10.3923/jas.2007.3649.3658
Faridi, M.Z. (2012) Contribution of Agricultural Exports to Economic Growth in Pakistan. Pakistan Journal of Commerce & Social Sciences, 32, 133-146.
Thompson, A. and Thompson, H. (2010) The Exchange Rate, Euro Switch, and Tourism Revenue in Greece. Tourism Economics, 16, 773-780. https://doi.org/10.5367/000000010792278338
Sanjuan-Lopez, A. and Dawson, P.J. (2010) Agricultural Exports and Economic Growth in Developing Countries: A Panel Cointegration Approach. Journal of Agricultural Economics, 61, 565-683. https://doi.org/10.1111/j.1477-9552.2010.00257.x
Irz, X., Lin, L., Thirtle, C. and Wiggins, S. (2001) Agricultural Productivity Growth and Poverty Alleviation. Development Policy Review, 19, 449-466. https://doi.org/10.1111/1467-7679.00144
Duc, N.M. and Tram, N.A. (2011) Relationship between Sectoral Exports and Economic Growth: A Time Series Econometric Analysis for Vietnam Fishery Sector 1999-2008. Journal of Science, 1-12.
Noula, G.A., Gustave, L.S. and Munchunga, D.G. (2013) Impact of Agricultural Export on Economic Growth in Cameroon: Case of Banana, Coffee and Cocoa. International Journal of Business and Management Review, 1, 44-71.
Anwar, A. (2014) Testing Export-Led Growth Paradigm for Pakistan’s Agriculture Sector. Journal of Business & Economics, 6, 113.
Kang, H. (2015) Agricultural Exports and Economic Growth: Empirical Evidence from the Major Rice Exporting Countries. Agricultural Economics (ZemědělskáEkonomika), 61, 81-87. https://doi.org/10.17221/99/2014-AGRICECON
Ouma, D., Kimani, T. and Manyasa, E. (2016) Agricultural Trade and Economic Growth in East African Community. African Journal of Economic Review, 4, 203-221.
Lall, S. (2000) The Technological Structure and Performance of Developing Country Manufactured Exports, 1985-98. Oxford Development Studies, 28, 337-369. https://doi.org/10.1080/713688318
Allaro, H.B. (2012) The Effect of Export-Led Growth Strategy on the Ethiopian Economy. American Journal of Economics, 2, 50-56. https://doi.org/10.5923/j.economics.20120203.05
Narayan, P.K., Narayan, S., Chand Prasad, B. and Prasad, A. (2007) Export-Led Growth Hypothesis: Evidence from Papua New Guinea and Fiji. Journal of Economic Studies, 34, 341-351. https://doi.org/10.1108/01443580710826380
Ljungwall, C. (2006) Export-Led Growth: Application to China’s Provinces, 1978-2001. Journal of Chinese Economic and Business Studies, 4, 109-126. https://doi.org/10.1080/14765280600736866
Narayan, S., Sriananthakumar, S. and Islam, S.Z. (2014) Stock Market Integration of Emerging Asian Economies: Patterns and Causes. Economic Modelling, 39, 19-31. https://doi.org/10.1016/j.econmod.2014.02.012
Yurtkur, A.K. and Bayramoglu, A.T. (2012) Export Dynamics in Emerging Market Economies. YonetimveEkonomi, 19, 19-33.
Balcilar, M. and Ozdemir, Z.A. (2013) The Export-Output Growth Nexus in Japan: A Bootstrap Rolling Window Approach. Empirical Economics, 44, 639-660. https://doi.org/10.1007/s00181-012-0562-8
Herrerias, M.J. and Orts, V. (2010) Is the Export-Led Growth Hypothesis Enough to Account for China’s Growth? China & World Economy, 18, 34-51. https://doi.org/10.1111/j.1749-124X.2010.01203.x
Siliverstovs, B. and Herzer, D. (2006) Export-Led Growth Hypothesis: Evidence for Chile. Applied Economics Letters, 13, 319-324. https://doi.org/10.1080/13504850500407293
Keho, Y. (2017) The Exports and Economic Growth Nexus in Cote Divoire: Evidence from a Multivariate Time Series Analysis. Asian Journal of Economic Modelling, 5, 135-146. https://doi.org/10.18488/journal.8/2017.5.2/8.2.135.146
Saleem, A. and Sial, M.H. (2015) Exports-Growth Nexus in Pakistan: Cointegration and Causality Analysis. Pakistan Economic and Social Review, 53, 17.
Safdari, M., Mahmoodi, M. and Mahmoodi, E. (2011) The Causality Relationship between Export and Economic Growth in Asian Developing Countries. American Journal of Scientific Research, 25, 40-45.
Ehinomen, C. and Daniel, O.O. (2012) Export and Economic Growth Nexus in Nigeria. Management Science and Engineering, 6, 132.
Tsegaye, D.L. (2015) Trade and Growth Nexus in South Korea: Analysis Using Vector Error Correction Model and Granger Causality Test. Global Development Network Working Paper Series (No. 88).
Rahman, Z. and Hossain, M.E. (2014) Role of Agriculture in Economic Growth of Bangladesh: A VAR Approach. Journal of Business, 7, 163-185.
Boansi, D., OdilonKounagbéLokonon, B. and Appah, J. (2014) Determinants of Agricultural Export Trade: Case of Fresh Pineapple Exports from Ghana. British Journal of Economics, Management & Trade, 4, 1736-1754. https://doi.org/10.9734/BJEMT/2014/10773
Bokosi, F.K. (2015) Export Trade and Economic Growth in Malawi: A Disaggregated Approach. International Journal of Economics and Financial Research, 1, 97-105.
Shah, S.W.A., Abrarulhuq, M. and Farooq, R.M. (2015) Agricultural Export and Economic Growth: A Case Study of Pakistan. Public Policy and Administration Research, 5, 88-96.
Bashir, F., Iqbal, M.M. and Nasim, I. (2015) Exports-Led Growth Hypothesis: The Econometric Evidence from Pakistan. Canadian Social Science, 11, 86-95.
Yifru, T. (2015) Impact of Agricultural Exports on Economic Growth in Ethiopia: The Case of Coffee, Oilseed and Pulses (No. 243473). Collaborative Master’s Program in Agricultural and Applied Economics.
Solow, R.M. (1957) Technical Change and the Aggregate Production Function. The Review of Economics and Statistics, 39, 312-320. https://doi.org/10.2307/1926047
Feder, G. (1982) On Export and Economic Growth. Journal of Development Economics, 12, 59-73. https://doi.org/10.1016/0304-3878(83)90031-7
Ram, R. (1985) Exports and Economic Growth: Some Additional Evidence. Economic Development and Cultural Change, 33, 415-425. https://doi.org/10.1086/451468
Duc, N.M. and Tram, N.A. (2011) Relationship between Sectoral Exports and Economic Growth—A Time Series Econometric Analysis for Vietnamese Fishery Sector 1997-2008.
Serenis, D., Tsounis, N. and Serenis, P. (2011) Exchange Rate Volatility and Sectoral Exports: Is There a Relationship? New Evidence from the E.U. Proceedings of the International Conference on Applied Economics, 11, 579-588.
Phillips, R.J. (2014) A Look Back at the National Banking System and Its Relevance for Today. https://doi.org/10.2139/ssrn.2414010
Grjebine, T. (2013) Does Modern Banking Lead to Money Privatization? International Economics, 133, 50-71. https://doi.org/10.1016/j.inteco.2013.04.005
Bermúdez, C. and Dabús, C. (2015) Let It Float: New Empirical Evidence on De Facto Exchange Rate Regimes and Growth in Latin America. EstudiosEconomicos, 32, 3-18.
Miles, W. (2006) To Float or Not to Float? Currency Regimes and Growth. Journal of Economic Development, 31, 91-105.
Pesaran, M.H. and Shin, Y. (1998) An Autoregressive Distributed-Lag Modelling Approach to Cointegration Analysis. Econometric Society Monographs, 31, 371-413.
Pesaran, M.H., Shin, Y. and Smith, R.J. (2001) Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics, 16, 289-326. https://doi.org/10.1002/jae.616
Granger, C.W.J. (1969) Investigating Causal Relationships by Econometric Models and Cross Spectral Methods. Econometrica, 37, 424-438. https://doi.org/10.2307/1912791
Gemechu, D. (2002) Export and Economic Growth in Ethiopia: An Empirical Investigation. Master’s Dissertation, Addisa Ababa University, Addisa Ababa.
Shewangizaw, S. (2003) The Role of Diversification in Reducing Impacts of Export Instability on Ethiopian Economic Growth. Master’s Dissertation, Addisa Ababa University, Addisa Ababa.
Kagnew, W. (2007) Export Performance and Economic Growth in Ethiopia. Master’s Dissertation, Addisa Ababa University, Addisa Ababa.
Henneberry, S.R. and Khan, M.E. (2000) An Analysis of the Linkage between Agricultural Exports and Economic Growth in Pakistan. Journal of International Food & Agribusiness Marketing, 10, 13-29. https://doi.org/10.1300/J047v10n04_02
Fentahun, B. (2011) The Impact of Real Effective Exchange Rate on the Economic Growth of Ethiopia. Master’s Dissertation, Addisa Ababa University, Addisa Ababa.
Shashi, K. and Marcella, V. (2010) Cocoa in Ghana: Shaping the Success of an Economy. World Bank, Washington DC.