Modeling Macroeconomic Variables Using Principal Component Analysis and Multiple Linear Regression: The Case of Ghana’s Economy

Eyiah-Bediako, Francis; Senyefia, Bosson-Amedenu; Otoo, Joseph

doi:10.11648/j.jbed.20200501.11

Public

Modeling Macroeconomic Variables Using Principal Component Analysis and Multiple Linear Regression: The Case of Ghana’s Economy

Shared by NobleBlocks on Jan 1, 2020 • 12:00 AM UTC

Authors:

Francis Eyiah-Bediako

Bosson-Amedenu Senyefia

Joseph Otoo

Abstract

The paper sought to model the relationship between GDP and 29 macroeconomic variables in Ghana using the Principal Component Analysis and multiple linear regression. Economic data with 583 data points were collected from January, 1990 through to May, 2018. The KMO statistics was 0.750 and the Bartle...

Subject

Principal component analysis

Econometrics

Consumer price index (South Africa)

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