No difference between NDC, NPP in terms of 'better economic managers' debate - US-based economist

US-based Ghanaian economist, Professor Dennis Nsafoah has provided clarity on assertions indicating that the governing New Patriotic Party are the better managers of the Ghanaian economy.

During its seven-tenure under the Akufo-Addo administration, the NPP has consistently claimed that it has been better managers of the Ghanaian economy compared to the National Democratic Congress (NDC).

But Prof. Nsafoah speaking during an investment dialogue organised by Accra-based Citi TV spoke about the claim made by the NPP and provided better context after analysing economic data from 1992.

The dialogue was on the theme “Clarity in the Chaos”.

The Associate Professor of Economics at Niagara University during his submission pointed that data analysed since 1992 to date has shown that debt-to-GDP ratio, real GDP growth, average inflation rate, and cedi depreciation were almost identical for both the NPP and NDC.

In terms of cedi depreciation, the US-based economist said NPP has over the years performed better as compared to the NDC but pointed that there is still no significant difference statistically when all other economic variables are put together.

“Does an NPP-led administration perform better than an NDC-led administration in terms of economic performance? This should no longer rely on anecdotal evidence. We have enough data from 1992 to empirically provide support for any perception,” Prof Nsafoah is quoted by citinewsroom.com

“I analysed the data for these five variables depending on who was in charge of the administration. My overarching conclusion is that I found insufficient evidence to support the claim that one party’s economic performance is superior to another party’s economic performance. When we examined the real GDP growth rate, there was no statistical difference between the NDC and the NPP. With regard to per capita growth rate, average inflation, and public debt-to-GDP ratio, there was no statistical difference,” the US-based economist shared.

He continued, “The only variable I saw a statistically significant difference was the cedi depreciation rate. It turns out that, in the years the NPP has been in the helm of affairs, the cedi has performed better than when the NDC is at the helm of affairs. Regardless, this does not conclude the debate on who performs better than the other.”


Image source: citinewsroom.com

MA/NOQ