Question

After gaining independence from britain, ghana's economy languished for three decades. why was this the case? what does the ghana experience teach you about the connection between economic and political systems and economic growth? g

Answer 1

After gaining independence from Britain, Ghana's economy languished for three decades. These was there because of continuous coups that took place within the Ghana economy. The Ghana experience teaches us that economic and political systems and economic growth are related together. If any of the pillar falls, then other two pillars also cannot stand on its own and they two will also fall eventually.

Answer 2

After gaining independence from Great Britain, Ghana faced a problem that is common among newly-formed countries. This is the fact that when a colonist power leaves the country, it often leads to a breakdown of politics and institutions. Ghanians did not have an established political system to replace the British one, and this meant that Ghana was politically instable for the next few decades.

Political instability led to a slowdown of the economy, as foreign investors left and businessmen became uncertain of the future. This shows that political stability and strong institutions are absolutely necessary for economic growth to take place.