Since independence in 1957, Ghana has tried a number of approaches to achieving acceptable rates of growth and development. A period of rapid industrialization in the 1960s, control measures and further state interventions in the 1970s were followed by a comprehensive reform programme from the mid-1980s based on a policy of economic liberalization.

The initial growth and macroeconomic stability has not been sustained beyond the short term. A major question for Ghana is whether to continue with reform measures.

Ernest Aryeetey is Associate Professor of Economics at the Institute of Statistical, Social and Economic Research, University of Ghana, Legon.

Jane Harrigan is Senior Lecturer at the School of Economic Studies, the University of Manchester.

Machiko Nissanke is Senior Lecturer at the Department of Economics, School of Oriental and African Studies, University of London

CATEGORIES:

Economics, History/AFRICA