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Mr Kwame Pianim, economist and financial consultant, launching “The Economy of Ghana, Sixty Years after Independence” book. Picture: Maxwell Ocloo
Mr Kwame Pianim, economist and financial consultant, launching “The Economy of Ghana, Sixty Years after Independence” book. Picture: Maxwell Ocloo

Book outlining Ghana at 60 launched

A book that outlines the stages of Ghana's economy  from a dominant state to a resource-abundant nation has been launched in Accra. Titled "The economy of Ghana; 60 years after independence", the 215-page book was put together by 32 authors and edited by a former Vice Chancellor of the University of Ghana, Professor Ernest Aryeetey, and Mr Ravi Kanbur.

Divided into three sections,  the book throws more light on Ghana's economic journey in the last 60 years.

The first part talks about the various kinds of industrial policies that Ghana has adopted historically and the industrial development outcomes that they have produced.

The second part highlights the evolution of a key element of industrial policy and state-business relations.

The final part touches on how industrial policy in Ghana will need to adapt to the emerging importance of the natural resource sector following the discovery of oil.

The book concluded that despite laudable efforts at modernising its agrarian economy, Ghana's transformation to an industrial economy remains largely unfulfilled.

Solid output

In his overview of the book, Prof. Aryeetey said the book was solidly put together with the knowledge and experiences of more than 30 scholars.

He added that the book traced Ghana's economic path and the various transformation processes leading to the current nature of the economy.

Prof. Aryeetey, therefore, applauded the various contributions of all the scholars, especially his co-editor, Mr Kanbur.

Review

Reviewing the book, a former Deputy Rector of the Ghana Institute of Management and Public Administration (GIMPA), Dr Nii Noi Ashong, said it explored the evolution of state-business relations in the country as a key element of industrial policy and its effects on the development of the nation.

"Ghana's lack of a long-term industrial development strategy may reflect the relationship between governments and private indigenous entrepreneurs," he quoted from the book.

Dr Ashong said the book extensively examined industrial policies in Ghana and how they would need to adapt to the emerging importance of the natural resources.

"There are discussions of the benefits and associated challenges of diversification of the economy, where sole focus is shifted from the resource sector by improving competitiveness of other tradable activities," he quoted from the book.

 

The book was launched by a former Minister of Finance, Mr Kwame Pianim.

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