An Overview of Political and Economic Development in Ghana from 1957-2008

Abstract

This paper examines the overview of the political and economic development in Ghana from 1957 to the year 2008. The past five decade has witnessed morass in the political and the economic landscape of Ghana. Governments, both civilian and military all came to power with the promise of a better Ghana for Ghanaians. However, for over fifty years after independence, the country has not experienced a major economic take-off, even though there has been some level of stability in the political terrain. The study adopted both primary and secondary sources of data to examine the political and the economic development of Ghana from 1957 to 2008. Out of 68 respondents, 52% asserted that Ghana, like most developing countries, lacks the capital needed to enhance economic growth and development. Hence, donor assistance has played a significant role in the development of the country.As a result of the continuous flow of assistance from the developed world to aid the development of the country, Ghana has become aid dependent.Seventy two percent (72%) of Ghanaians are of the view that Ghana is donor dependent. The inability of the country to internally generate revenue for budget funding makes it impossible for the country to wean itself off donor assistance. This study therefore concludes that political stability is very relevant in the search for sustainable economic growth and development in the search for sustainable economic growth and development in Ghana