The Effect of External Debt, Unemployment Rate, and Inflation on Economic Growth in Ghana

Inflation and unemployment rates are part of the macroeconomic factors affecting growth within Ghana's economy over years. The continued rise in country's gross domestic product a high dependency on external debt for development projects have sparked lot controversies. This study investigates whether debt, inflation, rate stimulate economic development, intending to determine causal relationship between variables serve as an important factor policymakers. econometrics methods include stationarity test, Johansen cointegration regression (ordinary least squares). data used was from World Bank 1991-2021. test showed that GDP, were non-stationarity integrated at first-order difference, whereas inflation stationary level. found long-run selected variables, but only positively impacted long term. In contrast, had negative impact. results be correlated Ghana, harm it with GDP explained variable. findings also indicate increased reduced did not influence inflation. outcome further proves rate, negatively influenced it.