evidence for changes in persistence and in volatility of price across three well defined periods. We argue that historically …, the real price of oil has tended to be highly persistent and volatile whenever rapid industrialization in a major world … account for the increased volatility of oil price we observe in these periods …

based on the features of the Ghanaian Economy. We then examined the persistent effects of world oil price and monetary …

link between oil shocks and the volatility of economic growth. A new measure of oil shocks is developed and shown to be … volatility to oil price changes. Uncertainty about future growth is considerably lower compared to a benchmark AR(1) model when …