ABSTRACT
The core of political processes in Ghana has centered on trends in the political economy. The parameters of the political are defined by the practice of the political economy: the contents it has tackled, its capacities and constraints, its attainments and failures. In the first two decades of independence the same Ghana that had achieved independence with a respectable supply of foreign reserves had virtually collapsed as a viable economic entity. The economy of this primarily agricultural country has, like most other ex-colonial states, been dependent on external factors operating within the global economic system. Adherents of the pragmatic-liberal school rest their set of explanations for Ghana’s economic stagnation on a series of variables related to the nature of policy design and implementation. According to those who propound these views, the first cause of Ghana’s economic underdevelopment derives from poor policy formulation. “Sluggish growth in Ghana is due more to policy failures than to any inherent weakness of the economy.
