Development economics in action : a study of economic by Tony Killick

By Tony Killick

Half A - Nkrumah and his instant Successors, 1960-72 1. advent 2. improvement, Disequilibrium and kingdom Interventionism three. the commercial thoughts of Nkrumah and his Successors four. family financial functionality within the Nineteen Sixties five. exterior functionality: The foreign currencies Constraint and its explanations 6. making plans, Saving and financial administration 7. Modernization with out development eight. The Unbalanced progress of Agriculture and nine. The nation as Entrepreneur 10. The nation as Controller eleven. After Nkrumah: Interpretations of regulations, 1966-72 12. classes half B - The list in view that 1972 thirteen. From Implosion to growth, 1972-2008 14. Structural swap 1970-2008 15. Forces for swap 1983-2008

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Development economics in action : a study of economic policies in Ghana

Half A - Nkrumah and his fast Successors, 1960-72 1. advent 2. improvement, Disequilibrium and country Interventionism three. the commercial techniques of Nkrumah and his Successors four. family fiscal functionality within the Nineteen Sixties five. exterior functionality: The foreign currency Constraint and its factors 6.

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5 At the risk of doing less than full justice to the sophistication of Leibenstein’s model, it might be said that he added to a vicious circle similar to Nurkse’s, a neo-Malthusian hypothesis that, at a low initial level of development, improvements in living standards would tend, after a time, to induce an accelerated rate of population growth which would overtake the expansion of total income and thus force per capita income back down again. 6 Three other attempts to explain the persistence of poverty deserve mention.

Chapters 6–10 examine in detail the results of Nkrumah’s economic strategy. Development planning, fiscal performance and short-term economic management concern chapter 6, while chapters 7 and 8 study the modernization and industrialization which occurred, and reasons for their failure to generate more rapid Introduction 3 economic growth. Chapters 9 and 10 assess the performance of state enterprises established under Nkrumah, and the effects of import and price controls. The performance and problems of the governments which followed Nkrumah are considered in chapter 11.

The application of static analysis to the process of growth was fruitless, in his view, for development ‘is a distinct phenomenon, entirely foreign to what may be observed in the circular flow or in the tendency towards equilibrium. It is spontaneous and discontinuous change . . ’30 General equilibrium theory has little to offer in a process of Creative Destruction. The disequilibrium strategy of development It is easier to obtain a consensus among doctors about what ails a patient than about how to cure him.

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