The paper uses the National Transfer Accounts Approach to estimate the lifecycle
deficit and hence the first demographic dividend for Ghana in 2005. The results of
the National Transfer Accounts for Ghana indicate that, lifecycle surplus runs for
about 30 years and peaks around age 50. Further, there is early entry in the labor
force as well as late exit from the labor force, probably due to significant
unregulated labor market activities in Ghana, particularly in the informal sector.
The results reveal that Ghana started enjoying the first demographic dividend in
1990 and is expected to peak around 2031. The paper, however, proposes some
policies geared towards strengthening the labor market which potentially would
develop the human capital particularly in the productive ages to help sustain the
benefits