Ghana's Economic and Agricultural Transformation

Ghana's Economic and Agricultural Transformation
Author: Xinshen Diao
Publisher: Oxford University Press
Total Pages: 304
Release: 2019-08-22
Genre: Business & Economics
ISBN: 0192584030

Many African countries have experienced unprecedented rates of economic growth in recent years, yet their economic transformations display features that could constrain their future growth prospects. Patterns of urbanization without industrialization, rapid growth of low productivity jobs in the informal economy, and a neglected agricultural sector with increased need for important foods are all areas for concern as Africa continues to develop. Using Ghana as a case study, Ghana's Economic and Agricultural Transformation: Past Performance and Future Prospects integrates economic and political analysis to explore the challenges and opportunities of Africa's transformation. It examines Ghana's overall economic performance since it went through a major Structural Adjustment Program in the early 1980s, and provides an in-depth empirical analysis of the broader economy and the agricultural sector over the last four decades. It explains why Ghana has not transformed its economy more substantially, why its agriculture sector has not played a greater role beyond cocoa production, and what must be done in the future to achieve a successful transformation. In addressing these puzzles Ghana's Economic and Agricultural Transformation considers what the rest of the world can learn from Ghana's experience.

Ghana's Economic and Agricultural Transformation

Ghana's Economic and Agricultural Transformation
Author: Peter Hazell
Publisher:
Total Pages:
Release: 2019
Genre:
ISBN:

Many African countries have experienced unprecedented rates of economic growth in recent years, yet their economic transformations display features that could constrain their future growth prospects. Particularly troublesome have been patterns of urbanization without industrialization, rapid growth of low-productivity jobs in the informal economy, and a neglected agricultural sector with increased need for imported foods. Using Ghana as a case study, this book explores the challenges and opportunities of these patterns of transformation. By combining a historical and political perspective with in-depth empirical analysis of the performance of the broader economy and the agricultural sector since the economic reforms of the 1980s, the book considers viable policy options for Ghana and discusses the implications for other African countries.

The Economy of Ghana Sixty Years After Independence

The Economy of Ghana Sixty Years After Independence
Author: Ernest Aryeetey
Publisher: Oxford University Press
Total Pages: 439
Release: 2017
Genre: Business & Economics
ISBN: 0198753438

This volume assesses the challenges facing Ghana's economy as it enters its seventh decade and the nation heads towards three quarters of a century of independence.

Ghana’s agrifood system structure and drivers of transformation

Ghana’s agrifood system structure and drivers of transformation
Author: Pauw, Karl
Publisher: Intl Food Policy Res Inst
Total Pages: 14
Release: 2023-07-14
Genre: Political Science
ISBN:

Ghana experienced rapid economic growth with an annual GDP growth rate of 6.6 percent between 2009 and 2019 (GSS 2023). Restrictive COVID-19 policy measures in 2020 caused a slowdown in growth (Amewu et al. 2020), with the rate falling to just 0.5 percent in that year (World Bank 2023a). Economic growth rebounded to 5.4 percent in 2021, but this growth was fueled by excessive government borrowing to finance an ambitious public infrastructure campaign and ushered in a severe financial crisis in Ghana. By 2022, the fiscal deficit had reached almost 10 percent of GDP and the total debt-to-GDP ratio had skyrocketed to 90 percent, resulting in rampant inflation (32 percent year-on year), a doubling of interest rates (from 14 to 28 percent), and a sharp currency depreciation (40 percent) (World Bank 2023b; Naadi 2023). Economic growth slowed to 3.2 percent in 2022 and is projected to decline further to 1.6 percent in 2023 (World Bank 2023a). Although President Akuffo-Addo blamed “malevolent forces” (Financial Times 2023)—including the global commodity market shock caused by Russia’s invasion of Ukraine, which by some accounts had only a minimal effect on Ghana’s economy (Arndt et al. 2023; Diao and Thurlow 2023)—the economic situation eventually forced the government to agree to an IMF bailout of US$3 billion in 2023. This will be in force for three years.

Farm transition and indigenous growth

Farm transition and indigenous growth
Author: Houssou, Nazaire
Publisher: Intl Food Policy Res Inst
Total Pages: 48
Release: 2016-01-15
Genre: Social Science
ISBN:

This paper characterizes the transition from small-scale farming and the drivers of farm size growth among medium- and large-scale farmers in Ghana. The research was designed to better understand the dynamics of change in Ghana’s farm structure and contribute to the debate on whether Africa should pursue a smallholder-based or large-scale oriented agricultural development strategy. The results suggest a rising number of medium-scale farmers and a declining number of smallholder farmers in the country, a pattern that is consistent with a changing farm structure in the country’s agricultural sector. More important, findings show that the rise to medium- and large-scale farming is significantly associated with successful transition of small-scale farmers rather than entry of medium or large farms into agriculture, reflecting small-scale farmers successfully breaking through the barriers of subsistence agriculture into more commercialized production systems. The findings in this paper also suggest that some of the factors thought to be important for change in farm structure are no obstacle to farm size growth, even though they may foster transition. Notably, the results here diverge from the patterns observed in Zambia and Kenya, which indicate that the emergent farmers came mostly from the urban elite. Unfortunately, past and current policy discussions have not featured these emergent farmers sufficiently in the quest to transform agriculture in Ghana. Government should capitalize on these emergent farmers who have a demonstrated ability to graduate productively as it strives to address challenges in the smallholder sector.

The Economy of Ghana

The Economy of Ghana
Author: Mozammel Huq
Publisher: Springer
Total Pages: 559
Release: 2018-09-12
Genre: Business & Economics
ISBN: 1137602430

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. ​

Growth in Ghana

Growth in Ghana
Author: Daniel Bruce Sarpong
Publisher: Routledge
Total Pages: 230
Release: 2018-12-20
Genre: Social Science
ISBN: 0429842406

Published in 1997, this text is set in a context where Ghana has experienced improvements in aggregate output performance over the past decade (1986-1996) yet agriculture's performance remains sub-optimal. The author focuses on agriculture's fragmentation as attributable to space (storage, transportation and marketing), form (rudimentary production methods in general) and content (stagnent productivity and poor organization of production) and notes that whilst current policies have impinged on the space fragmentation, issues on form and content seem to have been left to the dictates of the market. The author calls for a strategy of government plan in promoting modern technology in agriculture to enhance its linkage to industry for rapid and sustainable economic growth.