Ghana has shown a weak industrial-supply response to structural adjustment, particularly in terms of manufactured growth and competitiveness. Before adjustment policies were implemented, the reasons offered for the stagnation and decline in the Ghanaian industrial sector were external shocks, political uncertainty, macroeconomic mismanagement, hostility to private (domestic and foreign) firms, a grossly inefficient public sector and an inward-looking trade regime.1 These analyses called for better governance, stabilisation, import liberalisation, privatisation and more openness to foreign direct investments — the staple of adjustment programmes the world over (see Chapter 5). Most analysts predicted that the adoption of liberal market-friendly policies would by itself be enough to revitalise industrial growth and export expansion. There was some expectation, not least by the Ghanaian government, that Ghana would become an East Asian style ‘Tiger’ by implementing a full-blown structural adjustment programme.
Weitere Kapitel dieses Buchs durch Wischen aufrufen
- Skills and Capabilities in Ghana’s Competitiveness
- Palgrave Macmillan UK
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