Sustainable management of petroleum resource revenues: an exploration of Ghana’s institutional options

The study explores sustainable management practices as well as the relationship between institutional factors and the sustainable management of oil revenues in Ghana. Close-ended questionnaires were used to collect primary data among the revenue management institutions in Ghana. The study used a simple random sampling technique to analyse the 116 valid responses. The result reveals a significant positive relationship between regularity quality (RQ), government effectiveness (GE), voice, transparency and accountability (VTA) and sustainable management of petroleum resources. To ensure sustainable management of petroleum revenues, governments must strengthen institutional factors and collaborate with Public Interest and Accountability Committees to curtail likely misappropriation of oil proceeds. Though this study is the first to explore and ascertain the relationship between institutional factors and long-term management of oil revenues in Ghana, it was not able to fully unpack all the channels through which petroleum revenues are astutely managed.