Ghana has experienced solid economic and social development during the years before the finding of oil. Now that oil has been found, one should not forget that there are many countries in Africa which are rather cursed than blessed with natural resources. This phenomenon is known as the resource curse or more specifically the oil curse. This paper attempts to uncover the most challenging areas for Ghana, when its government wants to lift the resource curse. It further shows that Ghana is well prepared to tackle the negative effects of being oil abundant, by using the well-established models and concepts, which build on empirical analysis. Literature provides a lot to describe the oil curse, including the so called Dutch disease as well as conflicts, corruption, violence and bad governance, to mention a few. This paper will - in a case study approach- apply the concepts on Ghana and -with a qualitative comparative research design- expose the best practices from which Ghana can learn most. It will also show that Ghana's relatively good institutions will be able to implement most of the suggested policies which oppose the resource curse.
The outcome will be that Ghana's political environment, although far from perfect, is well prepared to deal with windfall oil revenues. Furthermore Ghana due its good structure of institutions and its stabilizing macroeconomic policies in the last decades, Ghana will be able to engage in best practice policies.
|School Location:||United States -- Missouri|
|Source:||MAI 52/05M(E), Masters Abstracts International|
|Subjects:||Economic theory, International Relations, Political science|
|Keywords:||Africa, Dutch desease, Ghana, Institutions, Oil, Resource curse|
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