Authors:
Coherent and sequential coverage, providing a reader with a consistent and thorough analysis of the Ghanaian economic development covering more than half a century
Offer readers deep insights into the two main modes of development that have been practised in Ghana – the initial phase of resource allocation which was largely determined by the government (i.e. the so called administered allocation) versus the current phase in which the neo-liberal agenda featuring a free market model of development is being promoted
Uses an updated data bank, systematically presented covering the period from Ghana's independence in 1957 to the mid-2010s
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Table of contents (21 chapters)
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Front Matter
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Overview
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Front Matter
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The Wider Macroeconomy
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Front Matter
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Sectoral Developments
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Front Matter
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Money & Banking, External Trade and Financial Flows
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Front Matter
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Infrastructure, Environment and Governance
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Front Matter
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About this book
The book follows a first edition published in 1989, which focused on the severe economic crisis Ghana faced during the late 1970s and the early 1980s. In this second edition, the authors extend the review up to the mid-2010s, covering the entire period since independence, with a special focus on shifts in economic policy, starting with the adoption of the Economic Recovery Programme in 1983. Huq and Tribe provide systematic coverage of Ghanaian economic development since its independence, reviewing the two main modes of development that have been practiced; and offer an updated, rich data bank. By analyzing the wider macroeconomy of Ghana; its individual sectors; money, banking and trade; infrastructure and environmental policies; and Ghana’s poverty, welfare and income distribution, the authors are able to draw vital lessons from the country’s economic development.
Keywords
- The Ghanaian Economy
- Economic Development
- Economic Recovery Programme (ERP)
- Agricultural Economics
- Cocoa
- Ghanaian Macroconomy
- International Monetary Fund (IMF)
- World Bank
- Structural Adjustment Programmes (SAPs)
- "Ten-Year Development Plan"
- National Liberation Council
- Kwame Nkrumah
- The Economy of Ghana
- Economic history of Ghana
- African economics
Reviews
“Huq and Tribe give us a strong case against both market and State fundamentalism. If fully implemented, the hard-nosed heterodox development policies recommended in this book will make Africa to once again look up to Ghana as it did in 1957 for new transformation pathways. Invaluable scholarship; and a must read.” (George Kararach, Senior Economist, UN Economic Commission for Africa and African Development Bank and author of Development Policy in Africa: Mastering the Future?)
“This story of Ghana, transiting from a controlled state to market based & liberal policies, provides critical insights for future policy making in Africa. It is a welcome addition to the debate about framing an optimal policy mix and the design of a ‘non-distortionary’ role of the state in stabilizing economies, delivering a diversified economic structure including developing a local entrepreneurial class; all within a context of a highly variable economic & social-political environment.” (Dr Louis Kasekende, Deputy Governor, Bank of Uganda)
“This book will be welcomed by all students of development. Ghana has been an inspiration to many in its ability to recover from bad times and to work out democratic, pro-poor development strategies, and the book shows in detail how this has been done.” (Professor Paul Mosley, Department of Economics, University of Sheffield, UK; and editor of the Journal of International Development)
“This revised edition is a must read volume. It provides a detailed analysis of Ghana’s economy after 50 years of independence with concise diagnosis of the country’s achievements, challenges and prospects. The volume covers broad but very interrelated topics such as Economic Policies and Reforms, the macro economy, sectoral developments, challenges and prospects, development financing, poverty and inequality. The diverse range of topics covered in this volume make it very unique and I will strongly recommend it to my graduate students.” (Professor Peter Quartey, Institute of Statistical, Social and Economic Research; and Head, Department of Economics, University of Ghana)
“The authors have put together a database of Ghana’s economic statistics that is comprehensive and extensive, covering at least five decades. This allows them to compare the periods of ‘dirigiste’ and neo-liberal economic management and their performance outcomes. The disasters of the first are well known, but the mixed results of the second are less so. This book will be a vital tool for future researchers of Ghana’s economy.” (Professor John Toye, University of Oxford, UK)
Authors and Affiliations
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Department of Economics, University of Strathclyde, Glasgow, UK
Mozammel Huq, Michael Tribe
About the authors
Mozammel Huq is Honorary Senior Lecturer at the University of Strathclyde, UK, and Visiting Professor of Economics at UttarBangla University College (National University Bangladesh), Bangladesh. He has taught development economics for over three decades and published a large number of articles and books, including Development Economics (2009, with A Clunies-Ross and D Forsyth). His association with Ghana has remained close especially since the two-year period (1982-84) that he spent as a Senior Research Fellow at Cape Coast University.
Michael Tribe is Honorary Lecturer at the University of Strathclyde, UK. He is a development economist with wide-ranging academic experience and a significant publication record. He previously taught at the University of Bradford, UK, was a Research Fellow in the University of Cape Coast, Ghana between mid-1982 and mid-1984, and was the UK coordinator for a Ghana Development Studies Academic Link between 1990 and 2011.
Bibliographic Information
Book Title: The Economy of Ghana
Book Subtitle: 50 Years of Economic Development
Authors: Mozammel Huq, Michael Tribe
DOI: https://doi.org/10.1057/978-1-137-60243-5
Publisher: Palgrave Macmillan London
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s) 2018
Hardcover ISBN: 978-1-137-60242-8Published: 06 October 2018
eBook ISBN: 978-1-137-60243-5Published: 12 September 2018
Edition Number: 1
Number of Pages: XXXVIII, 542
Number of Illustrations: 2 b/w illustrations, 5 illustrations in colour
Topics: African Economics, African Politics, Development Economics, International Political Economy, Macroeconomics/Monetary Economics//Financial Economics