ABSTRACT Ghana faces a persistent infrastructure financing gap, prompting the exploration of alternative funding models such as Public–Private Partnerships (PPPs), green bonds, and blended finance instruments. This study uses macroeconomic and sectoral indicators as proxies to evaluate the long‐term impact of these models on economic performance in Ghana. Using quarterly time‐series data from 2003 to 2023, the paper applies a Dynamic Ordinary Least Squares (DOLS) model to estimate the long‐run relationship between real GDP and selected infrastructure‐related indicators. The results reveal that per capita income, employment, and road infrastructure have a significant and positive impact on economic performance, while educational attainment and access to electricity exhibit unexpected negative effects. These results highlight that it is critical to prioritize high‐impact sectors that are often addressed with alternative infrastructure funding models and to streamline delivery, especially in social infrastructure. This study contributes to the growing discourse on infrastructure finance in Sub‐Saharan Africa and provides implicit policy lessons that can be applied to the strategic application of sustainable non‐traditional funding mechanisms in Ghana.
Aidoo et al. (Thu,) studied this question.
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