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The State, Private Sector Development, and Ghana's “Golden Age of Business”

Published online by Cambridge University Press:  23 May 2014

Peter Arthur
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Abstract:

The promotion of the private sector has become an integral part of Ghana's economic development strategy since it embarked on its structural adjustment program (SAP) in 1983. Private sector development, which involves the improvement of the investment climate and the enhancing of basic service delivery, is considered one of the necessary factors for sustaining and expanding businesses, stimulating economic growth, and reducing poverty. This article examines the policies of Ghana's New Patriotic Party (NPP) government and its strategies for making the private sector the bedrock of economic development and for achieving what it calls the “Golden Age of Business.” It argues that while the policies and initiatives being pursued have the potential to help in the development of the private sector in Ghana, the government has to play a more central role in this process, not only by creating the enabling environment for private businesses, but also by providing business with support and protection. While the “Golden Age of Business” is a neoliberal concept, its effective implementation requires a robust statist input.

Résumé:

Résumé:

La promotion du secteur privé est devenue une part intégrale de la stratégic du développement économique du Ghana depuis que le pays s'est embarqué dans l'application de son programme d'ajustement structurel (PAS) en 1983. La raison en est que le développement du secteur privé, qui implique l'amélioration des conditions du climat d'investissement et de la qualité de service, est considéré comme l'un des facteurs nécessaires pour le maintien et l'expansion du secteur commercial, le fleurissement économique, et la diminution de la pauvreté. Cet article examine la politique du Nouveau Parti Patriotique du Ghana, le NPP, et ses stratégies pour faire du secteur privé la pierre d'angle du développement économique et pour achever ce qu'il appelle 1' “Âge d'or économique.” Il défend l'idée que même si les réglementations et initiatives présentement en place ont le pouvoir d'aider le développement du secteur privé au Ghana, le gouvernement doit jouer un rôle plus central dans ce processus, non seulement en créant les conditions propices pour le commerce privé, mais aussi en lui apportant son soutien et sa protection. Alors même que l'“Âge d'or économique” est un concept néolibéral, son implémentation concrète nécessite une intervention vigoureuse de l'état.

Type
Research Article
Information
African Studies Review , Volume 49 , Issue 1 , April 2006 , pp. 31 - 50
Copyright
Copyright © African Studies Association 2006

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