The Asymmetric Effects of Oil Price Shocks on Aggregate Demand for Goods and Services in Ghana

Table 3

Descriptive statistics.

Variable	Mean	St.dev	Skewness	Kurtosis	Min	Max
LGDP	23.1331	0.5185	0.6900	2.2429	22.5215	24.2341
LCONS	22.9116	0.4675	0.4742	1.8007	22.2958	23.7608
LGOV	21.1530	0.5566	0.7754	3.1062	20.3081	22.4176
LPINV	21.4903	0.7114	0.8079	2.6643	20.4946	23.0556
LIMP	22.1518	0.7554	0.5839	2.4284	20.9467	23.7015
LROP	3.5646	0.6648	0.5889	3.0420	1.8058	4.5357
LRM2	21.0756	0.7606	0.3898	2.0428	19.7841	22.6018
FB	-6.0461	3.0606	0.1888	2.8799	-11.5000	1.7000
NEXR	0.5149	0.8192	2.0783	7.4477	0.0001	3.7115

Variables nomenclature: LGDP denotes log GDP, LCONS means log consumption expenditure, LGOV denotes log of government expenditure, LPINV denotes log investment expenditure, LIMP denotes the log of imports expenditure, LROP is log of real oil price, LRM2 means log real broad money supply, FB means fiscal balance, and NEXR is the official exchange rate.