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Export Growth and Trade Policy in Ghana in the Twentieth Century

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  • Francis Teal

Abstract

Ghana's exports on a per capita basis failed to grow over the course of the twentieth century. The reasons for this outcome are examined in this paper. It is argued that the success which characterised the period before independence was due to the combination of an open trade policy and flexible factor markets. The reversal of such policies at the time of independence was the source of the subsequent decline. While the terms of trade for Ghana's exports have fluctuated substantially there has been little change in their level over the century. Economic failure since independence has been due to domestic policies limiting export growth. The reforms of the post 1983 period have succeeded in preventing further decline; they have failed to provide a policy environment in which rapid growth of exports can occur. The nature of this policy failure is discussed.

Suggested Citation

  • Francis Teal, 2002. "Export Growth and Trade Policy in Ghana in the Twentieth Century," The World Economy, Wiley Blackwell, vol. 25(9), pages 1319-1337, September.
  • Handle: RePEc:bla:worlde:v:25:y:2002:i:9:p:1319-1337
    DOI: 10.1111/1467-9701.00494
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    Cited by:

    1. Gareth Austin & Jörg Baten & Alexander Moradi, 2007. "Exploring the evolution of living standards in Ghana, 1880- 2000: An anthropometric approach," Working Papers 7021, Economic History Society.
    2. Achyuta Adhvaryu & James Fenske & Anant Nyshadham, 2019. "Early Life Circumstance and Adult Mental Health," Journal of Political Economy, University of Chicago Press, vol. 127(4), pages 1516-1549.
    3. Habtamu Ali Beshir & Jean-François Maystadt, 2022. "Price shocks and human capital: Timing matters," LIDAM Discussion Papers IRES 2022020, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    4. Chandra, Vandana & Osorio Rodarte, Israel, 2007. "Options for Export Diversification and Faster Export Growth in Ghana," MPRA Paper 18539, University Library of Munich, Germany.
    5. Gareth Austin & Stephen Broadberry, 2014. "Introduction: The renaissance of African economic history," Economic History Review, Economic History Society, vol. 67(4), pages 893-906, November.
    6. Francis Teal & James Habyarimana & Papa Thiam & Ginger Turner, 2006. "Ghana : An Analysis of Firm Productivity," World Bank Publications - Reports 12595, The World Bank Group.
    7. World Bank, 2007. "Ghana - Meeting the Challenge of Accelerated and Shared Growth : Country Economic Memorandum, Volume 1. Background Papers," World Bank Publications - Reports 7661, The World Bank Group.
    8. Gareth Austin, 2014. "Vent for surplus or productivity breakthrough? The Ghanaian cocoa take-off, c. 1890–1936," Economic History Review, Economic History Society, vol. 67(4), pages 1035-1064, November.

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