ABSTRACT
Between the early 1970s and the early 1980s the economy of Ghana regressed to the verge of collapse. There was a persistent heavy rise in price levels of goods and a slowing down in the growth rate of per capita incomes. Negative growth rates were registered for several years. From the early 1970s living standards of the average Ghanaian plummeted. One of the outcomes of the deteriorating economic conditions was political instability: between 196681 five military coups jolted Ghana.
