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Achieving Development SuccessStrategies and Lessons from the Developing World$
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Augustin K. Fosu

Print publication date: 2013

Print ISBN-13: 9780199671557

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199671557.001.0001

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Country Role Models for Development Success: The Ghana Case

Country Role Models for Development Success: The Ghana Case

Chapter:
(p.265) 13 Country Role Models for Development Success: The Ghana Case
Source:
Achieving Development Success
Author(s):

Augustin Kwasi Fosu

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199671557.003.0013

There was a reversal in the trend in the mid 1980s when Ghana embarked on a new development strategy of economic liberalization, based on the Washington Consensus. Economic growth improved considerably. Although rather modest in comparison to the spectacular growth of the East Asian and Pacific countries or the African countries of Botswana and Mauritius, growth has continued. The relatively high per capita income evident in the immediate post-independence period has at least been restored. This study documents Ghana’s ‘success’ story. It identifies the strategy employed, providing a brief history of why and how the strategy was adopted, with some rationale for the success of the strategy, including the roles of domestic and international actors. Finally, the chapter draws lessons for possible application to other less successful countries.

Keywords:   Ghana, development strategy, economic liberalization, Washington Consensus, economic growth, independence

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