New Publication on SEZ Dynamics and Firm Performance in Ghana

Project partners from the University of Ghana, Charles Godfred Ackah and Robert Darko Osei, together with Baah Aye Kusi recently published a research paper in the journal Managerial and Decision Economics on SEZ dynamics and firm performance, drawing on evidence from Ghana. The publication can be access here.

The paper employs analysis of variance, treatment estimation and regression models covering 328 firms between 2018 and 2021 to shed insights on how SEZ dynamics/features affect firm performance (measured with total factor productivity, labour productivity, profitability, revenue generation and value added) in Ghana. The results suggest firms operating under SEZ dynamics have varying significant effects on firm performance. Thus, while firms registered as SEZ firms and operating in SEZ enclaves and firms registered as SEZ firms and operating outside SEZ enclaves have significant positive effects on the performance indicators of firms, firms that are not registered as SEZ firms and operating outside SEZ enclaves detracted firm performance. Clearly, firms that possess SEZ dynamics/features tend to promote performance of firms as denoted in the empirical literature and theoretical approaches to SEZ. Arguably, the tax holidays, cheaper tariffs and infrastructural benefits derived by SEZ registered firms boost their productivity, revenue and profit performance higher than non-SEZ registered firms. These results suggest policymakers/government should reduce administrative bottlenecks of registering as SEZ firms and operating in SEZ enclaves to increase the number of SEZ firm operations to induce performance and create room for fiscal revenue.


  • Charles Godfred Ackah
  • Robert Darko Osei