Ghana's Adjustment Experience (Paperback)
Heinemann Educational Books, 9780325071022, 288pp.
Publication Date: March 6, 2002
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How did the Ghanaian state, after flirtation with structuralist theories and state intervention in the early 1960s, followed by persistent resistance to fiscal correction and a long economic slide in the 1970s and early 1980s, turn the economy around? How did it manage to implement relatively rigorous "neoliberal reforms" in the mid-1980s and early 1990s? And why, after the "economic miracle" of the 1980s, has reform increasingly run aground in recent years?
As Hutchful argues, the Ghanaian adjustment strategy is deeply flawed, unsustainable and subject to recurring revisions by international financial institutions such as the World Bank or the International Monetary Fund. The Ghana case has focused many of the controversies of adjustment in Africa. As such, Hutchful's book marks a significant contribution to the literature on the role the state plays in impeding or encouraging economic and political development.