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The Past and Future of Ghana   Term Paper ID:35934 Click to get this paper

Essay Subject: Brief country study of Ghana, includes formal thesis statement.... More...

6 Pages / 1350 Words 10 sources, 13 Citations, MLA Format $24.00 Return to List of Papers

Paper Abstract: Country study of Ghana, including its troubled history of Colonialism, and problems confronting the country today. Contends that despite recent turmoil, Ghana has the economic, social and cultural resources necessary to rebuild stable financial and political systems. Paper Introduction: The Past and Future of Ghana Introduction Known as the Gold Coast during colonial times Ghana was one of thefirst African nations to receive its independence following World War II The country is rich in natural resources but like many African countries it has been rocked by political turmoil since independence Nonetheless the nation has embarked on an aggressive and largely successful educationprogram and has recently struggled to establish a stable government Ghana relies on foreign economic assistance including participation insome International Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. Ghanaremains highly dependent on a single commodity--cocoa--and this dependencehampers its long-term economic growth. In 2 , the nation held elections that witnessed the peacefultransition of power, but which still left the nation's banking sectorunsure of how the new government would resolve some of the economicchallenges facing Ghana (Jay 77). Works CitedAbdulai, Awudu & Christopher L. History For most of the past 5 years, Ghana was heavily influenced byEuropeans, first through trade contacts, and then as a British colony. Despite the government's emphasis on lessening the nation's dependenceon cocoa, the crop remains critical to the nation's economy. Nonetheless,the nation has embarked on an aggressive and largely successful educationprogram, and has recently struggled to establish a stable government.Ghana relies on foreign economic assistance, including participation insome International Monetary Fund (IMF) programs. Rawlings oversaw much ofthe government through the 198 s, but international pressure resulted in anassembly being established in the early 199 s. Over the next 3 years, the Danish,Dutch and Germans each controlled various parts of Ghana in addition to thePortuguese and British. In2 , the company employed more than 2 workers and exported to the UnitedStates and Japan. Conclusion Like many former colonies, Ghana has had a difficult time establishinga viable government and economy. Manycocoa farms in Ghana remain family farms, so this practice has thepotential to affect many women and their communities ("Cocoa Farming" 2). Challenges Facing Ghana One of the key challenges facing Ghana is privatizing its industries.Again, the cocoa industry is providing a model that might be applied toother commercial sectors, as well. "The Revered Cocoa Bean." American Visions 15 (Feb 2 ): 38.Jay, Martin. A new parliament was elected, but economic problemscontinued to plague the nation, and a bloodless coup, also led by themilitary, was staged in 1972. In addition, weather conditions and blight canbe particularly devastating to the cocoa crop as evidenced by the 2 2forecast, which was down by 14 percent from 2 1 levels ("Cocoa Surplus"1 ). As women gain property rights, theirsocial and political status increases so that they are able to exercisemore control over community decisions as well as their own families. Unrest followed, and another coup was staged in 1978.This government, which promised a return to democracy, was even shorterlived than its predecessors with a violent coup taking place in 1979. Thesis Statement Despite recent turmoil, Ghana has the economic, social and culturalresources necessary to rebuild stable financial and political systems. A recent study indicates thathigher education leads to higher nonfarm employment in Ghana, and thiseducation effect is even greater for women than for men. However, it has made the most of itsnatural resources, particularly its cocoa resources, and has been able todevelop strong relationships with international trading partners. "Opening Shots." The Report Newsmagazine. In 1964, thenation became a one-party state, and in 1966, the regime was overthrown bythe military. Whenworld prices decline, the nation faces economic challenges since it is sohighly dependent on cocoa. It has approximately 18 million inhabitants,with most of these living in rural areas. Another government reorganization wasundertaken in 1975. Given the nation's manygovernmental upheavals in the years since its independence, however, manyobservers considered the peaceful transition of power to be a significantaccomplishment signaling positive change for the future (Jay 79). Since the peaceful transitionof power in the latest election, however, international confidence has beenboosted in the nation's ability to move forward successfully. At this point, a legislative assembly was already in placesupporting a constitution that was enacted in 1954. In 2 1, a syndicate comprising nearly a dozen internationalfinancial institutions--including Barclays, Credit Lyonnais and the RoyalBank of Scotland--provided $3 million to Ghana in order for the nation topurchase cocoa beans for the upcoming season. Political turmoilimmediately enveloped the nation, however, and a new constitution wasadopted in 196 changing Ghana from a parliamentary system with a primeminister to a republican system with a powerful president. Ghana recognizes this, however, andhas taken steps to reduce its dependence by promoting nonfarm employmentand encouraging education for its citizens. The nation's dependence on foreign capital is also a significantchallenge. Only two of its cities (Accraand Kumasi) have populations in excess of one million ("Basic Data" 1).While the nation has a number of natural resources, including gold anddiamonds, that it exports, cocoa is the nation's primary export. Omanhenewas formed by a Ghanaian who studied in the United States and an Americanwho studied in Ghana. If theharvest falls short of expectations--as has happened recently--the countrycould default on its loans, which would severely restrict its ability toraise capital in the future. Itsfailure to establish a stable government for most of its history has nodoubt hurt Ghana both internally and externally as foreign investors arereluctant to commit to an unstable nation. While Ghana faces a number ofchallenges that will test its newfound democratic processes, it alsopossess the raw materials to build a strong and progressive nation. Thus women whoparticipate in nonfarm employment can generate a wage that is significantlyhigher than farm income compared to men--there is not such a greatdifferential between farm and nonfarm income for men (Abdulai & Delgado126). London: The Economist Intelligence Unit, 2 2.Bunner, Paul. Ghana was known as the Gold Coastduring the century that it was a British colony, and it was considered bythe British to be one of the "showpiece" of colonialism, being "therichest, the best educated. In addition, servicing these loans takesresources away from other projects where they might prove of greater long-term value ("Syndicated" 41). The company formed a joint venture with the Ghanaiangovernment which formerly owned all of the cocoa industry businesses. .and with the best organized nativeauthorities" (Bunner n.p.). However, the nation'sshort-term reliance on cocoa requires that the government take these stepsin order to ensure the crop's success whenever possible. The Omanhene Cocoa Bean Company is theonly factor in Ghana that manufactures finished chocolate from domesticcocoa beans; other beans are exported for chocolate manufacture. Washington, DC: U.S. Thislatest coup resulted in yet another constitution, which included a one-house parliament, an independent judiciary and an elected president. "The Worst of Times." The Banker 15 (Nov 2 ): 77-79."Syndicated Loans." Euroweek (Oct 5, 2 1): 41. Thislasted until 1981, when the constitution was suspended in yet another coupin which Jerry John Rawlings played a key role. Ghana faces the challenge of lessening its dependence on agriculturein general, and on cocoa in particular. . ThePortuguese established the first trading station in what is now Ghana in1482; the British arrived in 1553. The Past and Future of Ghana Introduction Known as the Gold Coast during colonial times, Ghana was one of thefirst African nations to receive its independence following World War II.The country is rich in natural resources, but like many African countries,it has been rocked by political turmoil since independence. The banking industry recognizes the needfor the nation to reduce its dependence on commodity exports in general,and on cocoa exports in particular, and while some progress had been madein this effort under the Rawlings administration, the constitutionprevented Rawlings from running for a third term. (Oct 7, 2 2): n.p."Cocoa Farming Empowers Women." The Futurist 36 (May 2 2): 2."Cocoa Surplus Predicted." Candy Business 4 (May-Jun 2 2): 1 ."Ghana Industry." Country Views/Wire. The British relinquished control over the Colony of the Gold Coast onMarch 6, 1957. Delgado. "Determinants of Nonfarm Earnings of Farm-Based Husbands and Wives in Northern Ghana." American Journal of Agricultural Economics 61 (Feb 1999): 117-127.Background Notes: Ghana. This practice hasbecome common in the cocoa industry. Department of State, Jan 2 2."Basic Data." Country Profile: Ghana. In 2 2, thegovernment committed financial resources toward eradicating the black poddisease that destroyed much of the nation's cocoa crop ("Ghana Industry"1). In2 , then vice-president and Rawlings' own preferred candidate forpresident lost the election, and power was transferred peacefully from oneelected president to another for the first time in Ghana's history.(Background Notes 3). In 1993, yet anotherconstitution went into effect, and Rawlings took office as president. The primacy of cocoa has helped bring about social change in Ghana.Historically, Ghanaian women have been unable to inherit land; however,they can receive property rights in exchange for labor. Although such measures can help keep cocoa production levels high,this draws resources away from other activities that might improve thenation's economic performance over the long-term. This is one example of how privatization can beimplemented in Ghana (Henig 38). Social & Political Environment Ghana comprises 238,537 square kilometers making it approximately thesize of the state of Oregon. Such loans requirerepayment, in this case, an eight-month payback was provided, anddemonstrate the precarious nature of the dependence on cocoa. This research examinesGhana's troubled history, identifies some of the challenges facing thenation today, and considers Ghana's future. Although the British took control of Ghana in1826, they continued to fight the Ashantis--whose kingdom was locatedinland--until 19 (Background Notes 2). London: The Economist Intelligence Unit, Apr 22, 2 2.Henig, Suzanne. If this paper is not what you are looking for, you can search again: Search for: or Click here to request an essay written just for you.