Following the attainment of middle income country status in 2010 and discovery of offshore oil reserves, per capita growth in the country has remained relatively high. income share of the richest 10% with the poorest 40%. urbanization had increased income inequality in the Philippines, In-donesia and India,it hadrather reducedincomeinequality inChina. News Ghana is Ghana's leading online news portal for business in West Africa and around the World. By 2012, consumption per capita among the top decile of distribution was seven times greater than among the bottom percentile and the Gini index rose 8%, from 37.5 to 40.8. Growing inequality in household consumption, regional disparities in welfare and a deteriorating macroeconomic environment are challenging progress in Ghana. Income inequality has political and economic impacts such as slower GDP growth, reduced income mobility, greater household debt, political polarization, and higher poverty rates. Atlas spoke with Augustin Fosu from the University of Ghana in Legon about growth, inequality, and poverty reduction in developing countries. Farm income was only dominant in rural communities in 2006. Tel: +233 234-972-832 or +1-508-812-0505 Contact us: [email protected] However, because of its greater use and availability, this paper will primarily cite gini indices. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. Income inequality situation in the mining industry of Ghana (II) Date: Jan - 25 - 2018 , 09:22 BY: Prince William Ankrah, Abdul-Moomin Gbana, Emmanuel Adjei-Danso, Anthony Arthur & Sampson Agyapong Self-employment and remittance income had consistent inequality reducing effects on total household income distribution. The Ghana Poverty and Inequality Report – 2016 1 Executive Summary Ghana has experienced steadily increasing growth of over 7% per year on average since 2005. Furthermore,KanburandZhuang(2013)predictedthatinthefuture, urbanization would continue to reduce income inequality in China, arguing that China may have already passed the “turning point.” In Income inequality is on the rise—the richest 10 percent have up to 40 percent of global income whereas the poorest 10 percent earn only between 2 to 7 percent. Ghana Global Economic Prospects examines trends for the world economy and how they affect developing countries. These inequality measures are usually derived from household surveys, which extrapolate an income or consumption distribution based on conditions in a sample of interviewed households. Originality/value - The study goes beyond inequality studies in Ghana to estimate the marginal effect of income components on inequality. If we take into account population growth inequality in developing countries, inequality has increased by 11 percent. Education, incomes, poverty and inequality in Ghana in the 1990s Francis Teal Centre for the Study of African Economies Department of Economics University of Oxford November 2001 Abstract Three issues are addressed in this paper.
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