Abstract
Over the last several decades of Ghana’s economic development, as considered in this study, two distinctly different economic strategies have been pursued by the government of the country. There existed some form of economic planning even before Ghana’s independence in 1957 and, over the years, government controls in resource allocation became marked, particularly so during the late 1970s and early 1980s. But, with the Economic Recovery Programme (ERP), initiated in 1983, a diametrically opposite policy regime was instituted. With the ERP, there began implementation of Structural Adjustment Programmes (SAPs) under close supervision by the IMF and the World Bank.
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