The Economy of Ghana Sixty Years after Independence

Hardcover | March 16, 2017

EditorErnest Aryeetey, Ravi Kanbur

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As Ghana approaches its 60th birthday, optimism and worries for the future continue to be present in equal measure. Economic growth in the last decade has been high by historical standards. Indeed, recent rebasing of GDP figures has put Ghana over the per capita income threshold into MiddleIncome Country status. However, structural transformation has lagged behind. Fiscal discipline has also eroded significantly and there is heavy borrowing, especially on the commercial market, while elements of the natural resource curse from oil have already occurred. The question most observers askis whether the gains from two decades of reforms are being reversed. Given this background, this volume brings together leading established and young economists, from within and outside Ghana, to analyze and assess the challenges facing Ghana's economy as it enters its seventh decade and the nationheads towards three quarters of a century of independence. The chapters cover the major macroeconomic and sectoral issues, including fiscal and monetary policy, trade and industrialization, agriculture and infrastructure. The volume also covers a full range of social issues including poverty and inequality, education, health, gender, and social protection.The book also examines the implications of the oil boom for Ghanaian development, and the role of institutions.

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As Ghana approaches its 60th birthday, optimism and worries for the future continue to be present in equal measure. Economic growth in the last decade has been high by historical standards. Indeed, recent rebasing of GDP figures has put Ghana over the per capita income threshold into MiddleIncome Country status. However, structural tra...

Prior to his appointment as Vice Chancellor Ernest Aryeetey was a Senior Fellow and Director of the Africa Growth Initiative at the Brookings Institution. He was also Director of the Institute of Statistical, Social and Economic Research (ISSER) of University of Ghana, Legon. His research focuses on the economics of development with in...

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Format:HardcoverDimensions:464 pagesPublished:March 16, 2017Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198753438

ISBN - 13:9780198753438

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Table of Contents

Part I: Overview1. Ernest Aryeetey and Ravi Kanbur: Ghana at Sixty: Learning from a Developing African Nation's Past2. Ravi Kanbur: W. Arthur Lewis and the Roots of Ghanaian Economic Policy3. Franklin Obeng-Odoom: Property and FreedomPart II: Macroeconomy and Finance4. Ernest Aryeetey and Ama Pokuaa Fenny: Economic Growth in Ghana: Trends and Structure (1960-2014)5. Robert Darko Osei and Henry Telli: Sixty Years of Fiscal Policy in Ghana: Outcomes and Lessons6. Peter Quartey, Bernice Owusu-Brown, and Festus Ebo Turkson: Monetary Policy and Inflation Management in Ghana: Inflation Targeting and Outcomes7. A.D. Amarquaye Laryea and Bernadin Senadza: Trade and Exchange Rate Policies since Independence and Prospects for the Future8. Sam Mensah: Banking and Capital Markets: The Evolution of Ghana's Financial Sector and Future Prospects9. Augustin Kwasi Fosu: Oil and Ghana's EconomyPart III: Sectoral Perspectives10. Fred Dzanku and Christopher Udry: Flickering Decades of Agriculture and Agricultural Policy11. Nkechi S. Owoo and John Page: Industrial Policy in Ghana: From a Dominant State to Resource Abundance12. William F. Steel: Formal and Informal Enterprises as Drivers and Absorbers of Employment13. George Owusu and Paul W. K. Yankson: Urbanization in Ghana: Retrospect and Prospects14. Edward Nketiah-Amponsah and Patricia Woedem Aidam: State of Ghana's Infrastructure and its Implications for Economic Development15. Daniel K. Twerefou and K. A. Tutu: Managing the Environment for Development16. Gavin Hilson and Abigail Hilson: Mining in Ghana: Critical Reflections on a Turbulent Past and Uncertain FuturePart IV: Human Development17. Andy McKay and Eric Osei-Assibey: Inequality and Poverty in Ghana18. William Baah-Boateng: Employment and Labour Market19. Abena D. Oduro and Charles G. Ackah: Closing the Gender Gaps in Ghana20. Emmanuel A. Codjoe: The Prospects and Challenges of a Youthful Population in Achieving Economic and Social Transformation in Ghana21. Kwabena Gyimah-Brempong: Education in Ghana: Access, Quality, and Prospects for Reforms22. Ama de-Graft Aikins and Kwadwo Koram: Health and Healthcare in Ghana, 1957-201723. Isaac Osei-Akoto and Clement Adamba: Social Health Insurance in Ghana: The Politics, Economics and the Future