Chapter

A Growth Collapse with Diffuse Resources: Ghana

Robert. Osei

in Resource Abundance and Economic Development

Published in print October 2004 | ISBN: 9780199275786
Published online April 2005 | e-ISBN: 9780191602160 | DOI: http://dx.doi.org/10.1093/0199275785.003.0010

Series: WIDER Studies in Development Economics

A Growth Collapse with Diffuse Resources: Ghana

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This chapter examines the growth collapse in Ghana. The country’s development trajectory followed that of staple strap model of resource-abundant countries. The model predicts that in the absence of either a developmental autonomous benevolent state or a consensual democracy, a resource-dependent country will drift towards an inward looking trade policy and dependence on a weakening primary sector; an external shock to such an economy is likely to cause a growth collapse. Policy failure was the main cause of Ghana’s growth collapse.

Keywords: Ghana; economic development; staple strap model; resource-abundant countries; growth collapse

Chapter.  6670 words. 

Subjects: Economic Development and Growth

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