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By Tony Killick

Half A - Nkrumah and his rapid Successors, 1960-72 1. advent 2. improvement, Disequilibrium and kingdom Interventionism three. the industrial recommendations of Nkrumah and his Successors four. household monetary functionality within the Sixties five. exterior functionality: The foreign currency Constraint and its reasons 6. making plans, Saving and fiscal administration 7. Modernization with out progress eight. The Unbalanced development of Agriculture and nine. The kingdom as Entrepreneur 10. The kingdom as Controller eleven. After Nkrumah: Interpretations of rules, 1966-72 12. classes half B - The list considering the fact that 1972 thirteen. From Implosion to increase, 1972-2008 14. Structural switch 1970-2008 15. Forces for swap 1983-2008

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Kwame Nkrumah represented a new brand of African nationalism; radical, modernizing and socialist in orientation. His successes and failures were carefully watched abroad, as a test of the experiment (as it was then) of political independence in Africa and of his type of ideology. Nkrumah had a vision of the nation-state he wished to create in Ghana and made no bones about wishing to extend it throughout the African continent. Because he was a nationalist, most African leaders shared many of his views and what was done in Ghana was repeated in other African states as they won their independence.

A few writers advocated import restrictions as a means of buttressing the balance of payments and of stimulating domestic industrialization;54 others remained silent or agnostic on the issue. While most mainstream writers argued in support of more aid from the industrial nations, they also stressed the importance of a much improved domestic savings effort to the achievement of self-sustaining growth. Here, too, the state was seen as having a major responsibility, in promoting banks and other financial institutions to mobilize voluntary saving, and through tax policies.

351–5, for a discussion of the notion of an economy’s absorptive capacity for investment. 2 Development, disequilibrium and state interventionism Attempts during the 1960s to accelerate the development of Ghana’s economy did not take place within an intellectual vacuum. Policies there were informed by a set of ideas similar to, and affected by, the leading ideas on development which came to the fore after the Second World War. Until the fall of President Nkrumah early in 1966, a strategy was employed which had many affinities with recommendations then being made by professional economists.

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