The myth of development under Ghana's structural adjustment program: evidence from the formal wood-processing sector (1983-1991).
1998
Owusu, J. H. | Adjibolosoo, S. B. S. K. (Ed.) | Ofori-Amoah, B
The paper argues that the use of structural adjustment programmes (SAPs), as a strategy for fashioning the development of nationally integrated economies in Africa, as envisaged by the Lagos Plan of Action is a misconception. As a result the claims of the programmes' 'success' in Ghana and the programmes' developmental role in Africa by the IMF and the World Bank, is mythical. Four arguments are presented as to why this is so, which are, very briefly: the IMF, the World Bank and donor countries and agencies are neither charitable organizations, nor are they neutral in the activities; the theory of comparative advantage, which is based on the principle of laissez-faire and which constitutes the basis for SAPs, was primarily designed for free trade between countries with comparable levels of industrialization; the laissez-faire principle itself also provides the necessary conditions for a process of cumulative downward causation to occur at all levels for African economies; and SAPs assume that classical instruments of control of money supply, exchange rate and trade liberalization, can bring about positive results in African economies. In view of these arguments, the adoption of SAP in Ghana could be seen as essentially metonymical, a move on the part of the government and programme sponsors to achieve hidden policy objectives. The paper presents evidence to support this view: the general perspectives of the proponents and critics of SAP are discussed; an overview is presented of the Ghanaian political economy; and evidence is presented from Ghana's formal wood processing industry to show that the economic development impact of SAP is much less than claimed by the programme sponsors.
اظهر المزيد [+] اقل [-]الكلمات المفتاحية الخاصة بالمكنز الزراعي (أجروفوك)
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