This study sought to juxtapose Ghana’s first three decades [1960s-1980s] of democratic and military regimes with its second three decades [the 1990s-2010s] of only democratic regimes to understand its political and economic trajectories and dynamics. Drawing on the Mandate Theory and leveraging on the interpretivist paradigm, the study adopted a qualitative content analysis and in-depth interviews to collect and analyze the views and opinions of respondents in Accra. The findings show that (a) The 1992 constitution has effectively halted Ghana’s 1960s and 80s cyclical political turmoil, ushering in ‘Pax Ghanaianica’, (b) There is a correlation between campaign promises and real GDP growth under the Fourth Republic, and (c) There is no correlation between a stable democracy and a stable real GDP growth under the Fourth Republic [i.e., The political campaign promises relative to power/electrification/energy have been unable to sustain production in Industry, Agriculture, Commerce, and Services]. The study concludes that Ghana’s roller coaster economic development may re-trigger ‘alien’ incursions into contemporary Ghanaian politics. It recommends that the political economy of Ghana should be structured to propel sustainable production in Industry, Agriculture, Commerce, and Services.
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