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Private Sector Development in Ghana: An Overview


  • Hoedoafia, Mabel Akosua


The development of the private sector has been recognized as the means to accelerate the rapid industrialization desired by developing countries. In this light, Ghana embarked on the Structural Adjustment Programme in the late 1980s which gave prominence to the private sector as an engine of growth in the country. Since then, other policies and programmes have been instituted by successive governments to make the private sector flourish and drive the country’s economic prosperity. Against this backdrop, this paper aims to bring to light the policies that have been geared towards the private sector in Ghana over the years as well as the evolution of development thinking on private sector development. The paper also highlights the contributions of the private sector to Ghana’s development and the challenges that stifle the development of the private sector in the country. This paper is relevant for policy makers as it draws attention to both what has been done and what still needs to be done to make the private sector viable.

Suggested Citation

  • Hoedoafia, Mabel Akosua, 2019. "Private Sector Development in Ghana: An Overview," MPRA Paper 96732, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:96732

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    References listed on IDEAS

    1. Sawyer, Malcolm C, 1988. " Theories of Monopoly Capitalism," Journal of Economic Surveys, Wiley Blackwell, vol. 2(1), pages 47-76.
    2. Ravallion, Martin, 2001. "Growth, Inequality and Poverty: Looking Beyond Averages," World Development, Elsevier, vol. 29(11), pages 1803-1815, November.
    3. Schulpen, Lau & Gibbon, Peter, 2002. "Private Sector Development: Policies, Practices and Problems," World Development, Elsevier, vol. 30(1), pages 1-15, January.
    4. Amsden, Alice H., 1992. "Asia's Next Giant: South Korea and Late Industrialization," OUP Catalogue, Oxford University Press, number 9780195076035.
    5. World Bank, 2002. "World Development Indicators 2002," World Bank Publications, The World Bank, number 13921, January.
    6. Bouton, L. & Sumlinski, M.A., 2000. "Trends in Private Investment in Developing Countries. Statistics for 1970-1998," Papers 41, World Bank - International Finance Corporation.
    7. Federico Bonaglia & Kiichiro Fukasaku, 2007. "Private Sector Development in Poor Countries: Seeking Better Policy Recipes?," OECD Development Centre Policy Insights 48, OECD Publishing.
    8. Ishan Kapur & Jerald A Schiff & Michael T. Hadjimichael & Philippe Szymczak & Paul Louis Ceriel Hilbers, 1991. "Ghana; Adjustment and Growth, 1983-91," IMF Occasional Papers 86, International Monetary Fund.
    9. Benjamin Artz & Ilker Kaya, 2014. "The impact of job security on job satisfaction in economic contractions versus expansions," Applied Economics, Taylor & Francis Journals, vol. 46(24), pages 2873-2890, August.
    10. repec:eee:deveco:v:130:y:2018:i:c:p:45-65 is not listed on IDEAS
    11. Lawrence Bouton & Mariusz A. Sumlinski, 2000. "Trends in Private Investment in Developing Countries : Statistics for 1970-1998," World Bank Publications, The World Bank, number 13986, January.
    12. Michael U. Klein & Bita Hadjimichael, 2003. "The Private Sector in Development : Entrepreneurship, Regulation, and Competitive Disciplines," World Bank Publications, The World Bank, number 15134, January.
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    More about this item


    Private sector; Ghana; privatization; structural adjustment; structuralism;

    JEL classification:

    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • N87 - Economic History - - Micro-Business History - - - Africa; Oceania
    • O29 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Other
    • Z18 - Other Special Topics - - Cultural Economics - - - Public Policy


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