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                <text>Maureen Enyonam Akos Lumos, Emmanuel Attah Kumah Amponsah, Edward Asumadu, George Oppong Appiagyei Ampong, Michael Nana Owusu-Akomeah</text>
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                <text>The objective of this study was to investigate the impact of foreign direct investment (FDI) on economic growth in Ghana, by examining the effect of FDI flow, FDI stock and FDI per capita on economic growth. The study adopted the quantitative and descriptive research design to analyse annual time series data on the dependent and independent variables spanning twenty-seven (27) years from 1996 to 2022. The ordinary least square and seemingly unrelated regression techniques were used for data analysis. The study revealed that FDI flow, FDI stock and FDI per capita had a statistically significant positive effect on per capita economic growth. The study thus recommended that the government of Ghana should intensify its efforts to carefully develop and implement progressive and attractive policies that can induce more investment from foreign multinationals, thereby increasing the stock of external capital inflows that can be channelled into the most value generating sectors of the country to eliminate production inefficiencies and boost domestic output that can increase economic growth. Additionally, the government of Ghana through the appropriate agencies can improve the enforcement of its regulatory policies to ensure that multinational firms and the general activities of foreign investors consistently provide fair and commensurate wages to Ghanaian workers, in order to promote the beneficial effects that FDI has on reducing income inequality in Ghana. MNCs must therefore provide the same value of remuneration for the same level of skills-quality and demand that workers in other economies would receive. This will eliminate wage …</text>
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                <text>The upstream oil sector the major source of government revenue for natural resource rich countries. Though the sector is a highly lucrative one, which plays a key role in the growth and development of a country, the sector is a highly capital intensive one. Thus, most developing countries are unable to raise the required investments to develop these resources. These developing must thus engage International Oil Companies (IOCs) in developing the resource. Existing literature suggests that most fiscal systems/ regimes do not enhance state’s take in the agreements drawn because they are liberal to encourage the FOCs/IOCs to invest their scarce but huge capital in this capital-intensive activity.&#13;
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The study delves into the methods and instruments used in analyzing the data gathered for the study. Financial models including the Net Present Value method, payback period, internal rate of return and return of investments were used in assessing the efficiency of Ghana’s fiscal regime. The study revealed the weakness of Ghana’s fiscal regime in yielding optimum returns from the nations’ oil resource. The analysis of Net Present Value and the Internal Rate of Return of cashflows for a ten year period (from 2008 to 2017) from the jubilee field generated according to the terms of Ghana’s fiscal regime, was the least when compared to the Net Present Value and the Internal Rate of Return, when the terms of fiscal regimes of Equatorial Guinea, Norway and Nigeria. The Payback period for Ghana’s fiscal regime was found to be among the regimes with the lengthiest payback countries among the selected fiscal regimes. The results reveal that Ghana is realizing only a small portion of its potential revenue from oil production.&#13;
The study recommends that Ghana’s government must embark on an exercise to review legislations regarding upstream petroleum activities and pass necessary amendments to suit current trends in upstream petroleum activities. The review and amendments of these regulations should be focused on optimizing the returns from oil exploration, development and production.</text>
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                <text>Dr. Riverson Oppong</text>
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