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By Tony Killick
Half A - Nkrumah and his instant Successors, 1960-72 1. creation 2. improvement, Disequilibrium and nation Interventionism three. the industrial techniques of Nkrumah and his Successors four. household monetary functionality within the Sixties five. exterior functionality: The foreign currencies Constraint and its reasons 6. making plans, Saving and financial administration 7. Modernization with out development eight. The Unbalanced development of Agriculture and nine. The kingdom as Entrepreneur 10. The country as Controller eleven. After Nkrumah: Interpretations of rules, 1966-72 12. classes half B - The list because 1972 thirteen. From Implosion to increase, 1972-2008 14. Structural swap 1970-2008 15. Forces for swap 1983-2008
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Additional resources for Development economics in action : a study of economic policies in Ghana
Building on a Keynesian foundation and concerning themselves with the circumstances of industrial capitalist economies, Harrod and Domar had developed a theory of growth featuring a stable incremental capital : output ratio (ICOR),36 and this proved a powerful simplifying assumption for others who wished to derive a model for the development of low-income countries. Given a constant ICOR, a rate of growth can be determined from a speciﬁed rate of investment, or vice versa. This being the case, a doubling, say, in the share of investment in GDP would also double the rate of growth of the economy and propel it towards the take-oﬀ point.
130–1. 10 According to Bing, 1968, p. 386, 120 posts of the Ministry’s total establishment for Agricultural Assistants of 267 were unﬁlled in 1961. 11 Killick, 1966, p. 293. See also chapter 12 below on the limitation of the civil service. 12 See Hurd, 1967, on the growth and nature of Ghana’s educational system. Bing, 1968, chapter 10, also contains an interesting discussion of the limitations of the system. 13 Killick, 1966, pp. 151–3. 14 The best treatment of this topic is by Caldwell, 1967, especially chapters II and IV, although it now appears that he over-estimated the rate of population growth.
The abbreviation C/ has been used throughout to indicate the ‘new’ cedi; none of the statistics presented are in ‘old’ cedis. The cedi is made up of 100 pesewas, the minor unit of value. 98. 55. 28. Unless otherwise indicated, this is the exchange rate used in this book. Notes 1 As a British colony the country was known as the Gold Coast. For an excellent political history of Ghana covering 1946–60, see Austin, 1964, and, for a more analytical study of roughly the same period see Apter, 1973. 2 Tanzania is another African country with a leader seriously committed to a socialist ideology, but Nyerere has chosen a diﬀerent economic strategy from the other examples just mentioned (see Helleiner, 1972B).