Question

3. The Republic of Ghana’s industrialization can be classified into two phases (the post-colonial and structural adjustment periods). Describe the nature of industrialization in any one of these periods and evaluate the main shortcomings during that era.

Answer 1

Ghana's post-colonial industrialiasation (1957)

During this time period ghana has an import substitution industrialization(ISI).

According to this type of strategy they have shifted their import substitute industrialisation to private sector-ledindustrialization.

Private sector led industrialisation tend to increase efficient and competitive production at relatively low cost as new technology was introduced .

Shortcomings during that era are:

1) license and quota system which create negativity in ease of doing business ,because centralization of power in the hand of government.

2) due to this system ,there was corruption and dishonsty in the system.

Slowly these norms was liberalised and ease of doing business promted in through private sector led industrialisation.