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The neoliberal policy response to the crisis in Ghana did not succeed in reversing the economic decline in both the medium and long term. In fact, quite the opposite, rather than undoing the economic decline, Frimpong argues that the policy prescriptions further weakened the country’s ability to develop. This is because the policies intentionally and unintentionally encouraged factors that destabilised the possibility of the real productive assets to earn commensurate returns to facilitate the flow of capital to the real sectors to ensure the survival of industrial enterprises. Rising profit in the financial sector incentivised financial capitalist to divert capital into financial assets at the expense of productive investment, further decelerating the pace of real capital accumulation in the country.
Author: Carol Chi Ngang
In The Right to Development in Africa, Carol Chi Ngang provides a conceptual analysis of the human right to development with a decolonial critique of the requirement to have recourse to development cooperation as a mechanism for its realisation. In his argumentation, the setbacks to development in Africa are not necessarily caused by the absence of development assistance but principally as a result of the lack of an operational model to steer the processes for development towards the highest attainable standard of living for the peoples of Africa. Basing on the decolonial and capability theories, he posits for a shift in development thinking from dependence on development assistance to an alternative model suited to Africa, which he defines as the right to development governance.
In: Financialisation and Poverty Alleviation in Ghana
In: Financialisation and Poverty Alleviation in Ghana
In: Financialisation and Poverty Alleviation in Ghana
In: Financialisation and Poverty Alleviation in Ghana
In: Financialisation and Poverty Alleviation in Ghana
In: Financialisation and Poverty Alleviation in Ghana
In: Financialisation and Poverty Alleviation in Ghana
In: Financialisation and Poverty Alleviation in Ghana