Non-UCL Research Papers

“Factories or Flux? Deciphering the Partisan Signature of FDI in Ghana’s Fourth Republic.”

Author

• • Payton Ross Garcia payton.garcia@bison.howard.edu Email Payton Ross Garcia. (compose email, opens in email app.)

Abstract

This study examines whether the sectoral composition of Ghana Investment Promotion Centre (GIPC)-registered foreign direct investment projects differs across political administrations during Ghana’s Fourth Republic. The study draws on 30 annual observations spanning 1995 to 2024 and tracks manufacturing’s share of registered project counts across four administrations: NDC Rawlings (1995–2000), NPP Kufuor (2001–2008), NDC Mills/Mahama (2009–2016), and NPP Akufo-Addo (2017–2024). Kruskal–Wallis and Mann–Whitney rank-sum tests are reported within two sub-periods organized around Ghana’s 2007 Jubilee oil discovery. The tests are interpreted descriptively because, within each sub-period, party identity, administration identity, and calendar period are perfectly correlated, and the annual observations are consecutive time-series observations rather than independent political units.

Keywords: Ghana Investment Promotion Centre (GIPC), Foreign Direct Investment, Sectoral Investment Composition, Manufacturing, Partisan Politics, Electoral Turnover, Investment Regulation

How to Cite: Garcia, P. R. (2026) ““Factories or Flux? Deciphering the Partisan Signature of FDI in Ghana’s Fourth Republic.””, UCL Journal of Economics. 5(1). doi: https://doi.org/10.14324/111.444.2755-0877.2229