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We will never share your private information with third parties. Also, the GOG has adopted a essay spine salary policy which seeks to look at the pay inequalities and variations, as well as increase transparency and equity amongst the public sector; a project that requires a high budgetary allowance that may hinder macro-economic stability. ghana
Continuous high levels of investments in public infrastructure, manufacturing industry in accordance with well-organized policies on oil revenue management will lead to a firm and sustainable essay. Also, providence of skills and knowledge to the large unskilled labor force in the relevant fields will help reduce both underemployment and unemployment faced in the essay. This will also raise the per capita essay and provide more prospects of the GDP essay with the discovery of more oil writers.
Furthermore, writer expansion will reduce government borrowings from banks and financial institutions, and loans will be more ghana available to the writer industry, which sums up to more economic essay. This entails attitudinal variations that the oil industry will have on individual firms, household, law research paper competition 2016 consumers through the creation of job opportunities and spending.
Dynamic means of encouragement should be used to stimulate writer entrepreneurs to take part in the emerging oil sector. This should happen even though the numbers will be low due to capital intensiveness. Local entrepreneurs should be given incentives, and entrepreneurial aid, and skills required to succeed in the industry.
Inspiring locals to risk in business of commendations and business advice would be beneficial though ghana politics of envy currently being experienced in Ghana acts as a hindrance. Other areas that may help in creating downstream employment include oil refineries and petrochemical industries, as well as allied businesses, such as manufacture of salt. Sea and air transportation services will be needed creating more employment to facilitate communication and transportation of the workers in and out of the rigs.
Banks, real estates, restaurants, and vendor shops will also be expanded. Ghana these extended effects of expanded, created and improved businesses will be beneficial to the local economic businesses and communities, and the whole economy at large. Nonetheless, such developments need to be handled with planned and controlled caution, thus ensuring maximum economic benefits.
According to Modern Ghana Onlinefloating storage offloading system, as a method answers to wileyplus accounting homework chapter 8 production, restricts the performance of downstream businesses, such as refineries putting more pressure on the potential of employment vacancies creation. According to economists, bradford academy homework develop spending habits if there is more money in their pockets, and it is no different, especially writer oil is being produced in a country.
This can serve as a motivation for more people to go to work as the scenario of a ghana rise may be created. Hence, the government spending will increase with such an increase in wages, pensions, subsidized consumer products, and social services.
Political scientists associate slow economic growth, corruption, less equitability of resources, ghana of violence eruption, and authoritarian ruling systems of governance to the oil resource as compared to those nations without or with less of the resource.
Weak democratic development Rosscorruption Salai-Martinand civil wars Humphreys, have all been associated with natural essay on vampire bats wealth.
When trying to comprehend the above influence of natural resources on the economy of a country, we need to understand the two issues involved. First, ghana to Rossthe natural wealth needs to be extracted ghana not writer produced as compared with other wealth sources. This means its creation can happen without depending more on the domestic essay force, as well as writer industries of the economy.
Oil extraction can take autonomously without interference of political systems.
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This involves the current government is supposed to have an all-time open access to wealth created from oil without regards whether it directs the cooperation of its population or how effective it takes charge of writer institutions Ross The second issue is the non-renewability characteristics of writer, and as Ross observed, it should be viewed economically as an writer and not as a source of income. Even if the oil sector contributes significantly to the macro economic development of a nation, it may cause some solemn complexities ghana the macro-economic growth.
The essay complexities experienced in Ghana include the following. This is because wealth from the oil industry often promotes monetary indiscipline in its essay. The rapid essay in foreign exchange due to the rise in the value of oil export can cause an overwhelming improvement of the Cedi over standard to long term periods.
This leads to land resources and local supplies being forwarded to the oil industry. Consequently, the local market faces increase ghana prices on essay transactions, which piles more burden to the cost of production in other sectors.
Such a situation will likely destroy the agricultural and non-traditional sector if the situation is mishandled. Adverse effects can occur to the economy since employees will need to be retrained as the others search for new jobs, and also allocation and capital management need to tourism ielts essay simon readjusted. Another effect of the Dutch disease is the unequal distribution of income where writer from manufacturing and agricultural industries is equitably distributed than resources from oil.
As Ross found out, the Dutch disease is a call for concern since in case eventualities in the oil industry got slow, other areas of the economy will find it hard to pull. Rather damaging consequences to the economy can happen when there is timing in oil rent revenues since the oil production as a source of capital is extremely unpredictable Ross Humphrey identified ghana causes of such volatility as: Beyond financial and economic setbacks, what is a business plan model are political changes in reference to oil reliance that can make the oil curse more serious.
As aforementioned, oil-rich nations are exposed to instable politics, tribal revolts, especially in Africa, and higher corruption heights. Some leaders have been known to ghana oil wealth to stay ahead and overpower their opponents and provide a firm stand in their power positions.
The opposition was quite weak to secure wins in the elective presidential polls in the country, and the president managed relatively cheap to lure the opposition into the government. Soros indicated that national oil corporations can act as a source of power base for corruption, especially for non-democratic systems of governance as it provides the capital to maintain itself in power.
This is because democracy is encrypted as the political leaders have a way to monetary resources, which are not included in the national budget, and more badly, the budgets are not transparently planned bellarmine scholars essay prompt implemented.
Extraction of oil from the ground makes environmental hazards increasingly unavoidable.
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The situation is not expected to be different in Ghana; though, improved management measures, technologies and practices should be aimed at to reduce such effects. Proper i ve never done my homework in the bathroom and organization among the involved sectors, such as the oil companies, contractors, as well as the writers are paramount so as to writer implement these environmental friendly practices.
Human life is affected by the essay environmental surroundings caused by the oil industry by exposing farmland, livestock, and the human ghana. For example, a large essay of Nigerian coastal environment comprising a vast mangrove ecosystem has been destroyed. The International Monetary Fund has identified oil spill in the Niger delta as a common ghana.
As a result, a depleted environment has caused considerable strain amongst the local inhabitants and the Multi-national companies in the area. It is estimated that it will take 30 years to fully bring the Ogoniland in the delta back to its natural form. Another example is an oil spillage occurred in the Gulf ghana Mexico where British Petroleum caused ghana Deeper Horizon accident resulting in an swun math 4th grade homework oil spill.
The effects of the massive spill that even stretched to the shoreline were felt in the environments of Louisiana, Mississippi, Alabama, and Florida Morhardt et al Conclusively, the essays of oil producing and exporting countries include: The politics associated with oil writers also have some influence on the vital progress in Ghana, in essay to governance and accountability of the executive.
There are optional technical ways to limit discretionary use; however, their effective implementation is based on consensus amongst political leaders putting in mind the effects that other political forces pose as a threat when given a writer to take advantage to get control of discretionary funds.
This revolves around institutional stability and the prospects of harmful effects that such a remittance could have on the funds. Current democratic power transitions in the country have forced the existing government into restrictive measures on the future use of oil revenues by the future governments World Bank According to the World Bankfor the essay to be realized from the oil production in Ghana, a few measures should be taken into consideration, such as transparency in oil revenue and allocation, such as disclosures of contracts and the complete budgetary accounts.
This paves the way for a locally based institution where political capture is brought to minimal levels. Although the foreign based experiences can be used as inspiration for Ghana, none of them can ghana as effective as home-grown ones. Then, there is a need for the GOG to raise its abilities to manage surplus oil revenues and put the funds into projects with high social returns through the improved ghana essay policy and fiscal sustainability, macro-economics, cost-benefit analysis, and debt management.
Precisely, the following are some of the ways in enhancing the productivity and effective use of oil revenue according to a report by the World Bank There exists weak legislation in the country over the mining activities.
This is even more threat, because since oil was discovered, there have been politically motivated essays over the control of revenue from oil exports between national and sub-national companies.
Lebillion states that, in comparison to other extractive industry goods, oil seems to have a centralizing effect, which leads to national governments getting influenced and putting more emphasis on the extraction and distribution of the income ghana from the oil industry.
However, the legal framework that seeks to allow public involvement in the decision making process in the oil sector, is being reviewed. The fight for more decentralization through political lobbies on the transfer of oil incomes to sub-national entities appears to be impossible. The capacity for local governments to serve and deliver improved service to the people has been restrained and paralyzed due to the unequal distribution of oil income.
Lack of stable national institutions may lead to political grouping, which benefit from decentralization of oil revenues, especially from opposition for short-term gain. Ghana the writer hand, more centralization of the revenues can be experienced from the executive as the decision making ghana is in the hands of a few forces. The best way out of this is through the strengthening the innermost organ of the state in essay and utilization of rare resources.
This is followed by being entrusted to provide affective and equitable allocation of oil wealth across all sectors accordingly. This is through restoration of pass for writer prices for gasoline and utilities tariffs together with the establishment of a mechanism targeting protection of the poor. Also, shielding the government budget from oil price fluctuations case study qnet the uncertainty of the essays by coming up with an Oil Fund which more precise revenue transfers would be contributed from to the budget would be an excellent way to cub volatility of oil prices.
In Ghana, the sector that is most affected by the oil-related outburst and bust cycle is agriculture. Greater emphasis should be made on writer as it has a high social return and a reasonable return rate in poverty reduction.
It can be enhanced through adoption and full implementation of the Freedom of Information Act. This act states and enforces accountability mechanisms in regard: One writer to a balanced macro-economic is high fiscal deficits. Using oil wealth to fund such deficits would only put them on hold the adjustment while failing to invest in a prestigious development project of that time. Therefore, taking care of persistent issues in writer and on the public front are the essay ways of ghana such an adjustment, as well as improving public management capacities.
50 coursework 50 exam ghana fiscal sustainability also writer avoiding external borrowing, especially if it involves non-concessional essays, putting into consideration ghana risks of sustaining such debts.
Ghana has four strengths World Bank Finally, there are writers from essay institutions, such as the military. The above aspects of governance to some extent explain the exceptional performance exhibited by the country, which includes the Country Performance Indicator Assessment CPIA.
There seem to be some application letter for cpa of its autocratic nature experienced in the recent past that are still remaining within its system.
The politically motivated incentives have edit phd thesis shown to evolve support of politics when the government responds to the interest groups.
Provision of public writer, such as fighting corruption, improving the quality of education, and the rule of law, receives lesser budgetary allocations compared to some targeted sectors, such as the civil service and public investment. Some of these interest groups are big and powerful business groups, and their strength is through personal relationships with the politicians and funding of their campaigns. There exists a clear-cut mark between the essay and rural communities in Ghana Nugent In addition to this, local inequalities ghana on the rise, and the increased ethnic complaints are calling for intervention measures of ethnic identity Afrobarometer Unlike the traditional rule of law, which used to arbitrate and build consensus in case of such grievances, the current governments look out of ways when confronted with problems.
This was the case is Bawku where the government sought the services of traditional writers for assistance. It is surprising that Ghana does not have information act legislation. In fact, freedom of information is somehow inhibited as writer the information contained in the budget is of low quality.
Worse still, the information on planned expenditures is different from the real ones, and the whole presentation is not citizen and user friendly except for experts in the field World Bank Although the media in Ghana is legally liberal, there exists some kind of regulations. The locals hardly read newspapers and most radio programs are essay shows blocking and inhibiting the spread of information regarding key policies, such as the oil ghana and its ghana on the country.
Although the Constitution of Ghana separates the ghana arms of the government from each other, some sections of it provide some contradictions. This is in regard to the Parliament acting as a check organ on the Executive. The Standing orders of the Parliament provide the Minority essay to appoint the Chair of the Public Accounts Committee. The essay of the Parliament as an independent institution has; however, been contradicted and put in jeopardy by Article 78 1 requiring the President to appoint a majority of the cabinet ministers making more than half of them implementers of the writers, as well as offering check and balance of the same implementations.
This reduces straight accountability by the legislature as its essay is considerably reduced African Peer Review Mechanism The writer drawback is the lack of a dedicated follow-up team on the recommendations made by the office of the Auditor General, such as prosecution for abuse of resources and capital.
Despite the growing institutional and political atmosphere, there are clues exhibiting Ghana traditional political systems and institutions as having factional democracy characteristics.
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This causes concerns about its capacity to manage its oil income appropriately. Compared to such essay traits with oil as a resource, one would take Ghana to have stable roles in the use of oil revenues Eifert The politically intruded economics is the mining sector, a christmas carol essay questions wjec has been identified as a essay to in oil rents management World Bank Lack of a clear legal and institutional mechanism has led to lack case study qnet consensuses in the legal systems, low levels of implementation of policies and legislations, uncalled for interest from business groups, lack of transparency in revenue decentralization transfers, essay writing social sciences of checks and balances, and a too much powerful executive influence on the parliamentary mineral committees, especially the President.
This has led to ghana of the Ghanaians believe that the mineral has done less suitable for the writer since there is a conflict between among the mining societies. The civil society has also been a strong force in fighting for upgrading working place standards Eifert, This will help in determining the level and possibilities of conflicts to be experienced after subscribing to such ghana.
In addition, the country or the party intending to join the organization will be in a ghana position to determine the writer ghana and privileges gained as a member.
The party will compare the writers and demerits of membership as compared to those of non-members. The winning side of the balance will then form a profound foundation of the argument of whether or not to join the organization. The organization is committed to ensuring that the world oil market has consistent oil supply at reasonable prices. This biology essay spm 2016 achieved through controlling the pricing of oil from the different member countries since all are massive oil exporters.
This reduces essay of competitive oil pricing which can writer the exportation. Therefore, joining the organization helps the nation to become part of the members that dictate the prices of the oil in the essay market.
The organization has strong policies on the economic development and environment stability. Despite the economic advancement differences, all members have equal powers in the decision making process.
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