The Impact of Demographic Factors on Expectations of Oil Revenue in Ghana
Keywords:
Oil Revenue, Economic Expectations, Demographic Factors, Expectation FormationAbstract
The paper aims to empirically assess the various expectations held by individuals within the economy regarding oil revenue, with the goal of contributing to the broader body of knowledge surrounding expectation formation. The study employs a descriptive quantitative survey methodology, focusing on students in their first and third years in the Marketing Department of Sunyani Polytechnic who are pursuing a Higher National Diploma program. A total of 70 respondents were selected through a non-probability convenience sampling method to participate in the study. To gather data, questionnaires were developed using a Likert scale and distributed to the students. The collected data were then analyzed using SPSS, and the findings were presented in tabular form. The results of the analysis revealed that respondents hold mixed expectations regarding the implications of oil revenue. Notably, the study found variations in expectations based on factors such as gender, age, religion, and employment status. The mixed expectations observed among respondents suggest that perceptions of oil revenue and its potential impact are not uniform across different demographic groups. These differences may reflect varying levels of access to information, personal experiences, or differing priorities and concerns related to economic outcomes. The study concludes by recommending areas for future research. Specifically, it suggests that further investigation should explore the underlying reasons for the observed differences in opinions among respondents. Additionally, future studies should examine the influence of macroeconomic variables, such as inflation and GDP, on public confidence and the management of expectations related to oil revenue. Understanding these factors could provide valuable insights into how economic expectations are formed and how they can be effectively managed to foster public confidence and stability in the face of significant economic developments, such as the influx of oil revenue.