Ghana - Growth, private sector, and poverty reduction : a country economic memorandum
Orazem, Peter F. | Vodopivec, Milan
There is now clear evidence that policies that promoted growth in Ghana during the 1980s also helped to reduce poverty -- and substantially so. Between 1987-88 and 1991-92, Ghana's poor fell from 37 percent to 32 percent of the population. This reduction was widespread and broad-based, benefiting mainly rural areas and the most vulnerable group -- female headed households. Almost all of the reduction can be traced to economic growth in general and growth in non-farm self-employment in particular. Growth in private-sector sevices, especially wholesale and retail trade, has been the driving force behind non-farm self-employment. Moreover, growth has been distributionally neutral between 1987-88 and 1991-92. This report examines the relationship between structural adjustment measures taken to achieve macroeconomic stabilization and economic growth. The report also analyzes the effects of macroeconomic stabilization on the poor and the mutually beneficial effects of economic growth for both the government and its constituents.
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