Trade And FDI
- Topics:
- Foreign Direct Investment
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Overview: The external sector has always been the key to Ghana's economic performance. Good economic performance as in the late 1950s and early 1960s was associated with good trade performance while poor economic performance as in the late 1960s and 1970s was associated with a severe contraction of the external sector. There was a fundamental change in economic policy with the introduction of the Economic Recovery Programme (ERP) in 1983. A more liberal, market oriented and therefore more outward oriented policy was introduced. As a result many of the trade restrictions were relaxed. This has led to an expansion of imports and exports with imports outstripping exports in subsequent years. Thus the authors observe trade and current account deficits for the rest of the 1980s into the 1990s.
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Format: PDF | Size: 72KB | Date: Feb 2005 | Pages: 18
