Presentation Title

A Structural Adjustment Success Story? Economic Growth vs. Exacerbated Inequality and Environmental Degradation in Ghana

Format of Presentation

15-minute lecture to be presented the Saturday of the conference

Location

IB 1008

Start Date

24-3-2018 11:30 AM

End Date

24-3-2018 11:45 AM

Abstract

This presentation is a critique of the IMF and World Bank Structural Adjustment Program (SAP), applied on developing countries as a condition for loans, using Ghana as a case study. SAP has been successful in helping Ghana achieve economic stability and growth, however, it has also contributed to increased inequality and has promoted environmental degradation. Ghana has experienced political and economic instability since liberation from the colonial government in 1957 and upon agreement to meet the SAP conditions, the economy has experienced growth and is considered a success in that respect. However, harsh austerity measures imposed through the SAP have negatively impacted Ghana’s citizens and environment. Income inequality has increased throughout the timeframe of the SAP and the informal employment sector has seen massive growth. Ghana’s forests have been consistently and harshly degraded. The elites are reaping the benefits of economic stability at the cost of growing inequality. This research will explore the ways in which growing inequality and forest degradation affect Ghanaian citizens in the long term and will conclude by highlighting various opportunities for the Ghanaian Government to enact positive change. Since opening Ghana’s economy to the world, the world has begun to invest in Ghana, but when will Ghana start investing in its citizens and environment?

Department

Sociology and Anthropology

Faculty Advisor

Monica Sanchez-Flores

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Mar 24th, 11:30 AM Mar 24th, 11:45 AM

A Structural Adjustment Success Story? Economic Growth vs. Exacerbated Inequality and Environmental Degradation in Ghana

IB 1008

This presentation is a critique of the IMF and World Bank Structural Adjustment Program (SAP), applied on developing countries as a condition for loans, using Ghana as a case study. SAP has been successful in helping Ghana achieve economic stability and growth, however, it has also contributed to increased inequality and has promoted environmental degradation. Ghana has experienced political and economic instability since liberation from the colonial government in 1957 and upon agreement to meet the SAP conditions, the economy has experienced growth and is considered a success in that respect. However, harsh austerity measures imposed through the SAP have negatively impacted Ghana’s citizens and environment. Income inequality has increased throughout the timeframe of the SAP and the informal employment sector has seen massive growth. Ghana’s forests have been consistently and harshly degraded. The elites are reaping the benefits of economic stability at the cost of growing inequality. This research will explore the ways in which growing inequality and forest degradation affect Ghanaian citizens in the long term and will conclude by highlighting various opportunities for the Ghanaian Government to enact positive change. Since opening Ghana’s economy to the world, the world has begun to invest in Ghana, but when will Ghana start investing in its citizens and environment?