The Stimulus of Per Capita Income on Energy Infrastructure Investment in Ghana
Author(s): Samuel Narh Dorhetso
The specific objective of this study was to estimate the impact of per capita income on energy infrastructure investment in Ghana. To conduct this study, historical time series secondary data were collected from the Ghana statistical services, the Ghana energy database system, and the world bank database. Correlation analysis was initially used to measure the strength and direction of association that subsists between the variables. Consequently, a multiple regression was run to predict the stimulus of per capita income on energy infrastructure investment. The results of the analysis indicated a positive correlation between all the variables studied. However, only per capita income statistically significantly predicted investments in energy infrastructure, F (2, 10) = 20.262, p < .0005, R^2= .802, indicating that the stated hypothesis was validated. It is projected that the findings of this study would significantly contribute to literature on the collective effects of per capita income on energy infrastructure investment. However, the study had limitations as the precision of the secondary data used could not be independently substantiated. Essentially, the results of the study would provide ripostes for policy makers and practitioners as to the extent to which per capita income stimulates energy infrastructure investment as a measure of indicator 7.b.1 of target 7.b of the seventh sustainable development goal (SDG 7). This empirical probe estimated the extent to which per capita income affect energy infrastructure investment, and authenticates a decisive research field that requires more study.
Keyword(s): per capita income; energy infrastructure; investment; multiple regression analysis; sustainable development goals