Ghana Rising : Accelerating Economic Transformation and Creating Jobs
Ghana has been a rising growth star and a beacon of hope in West Africa. Strong economic growth over the past two decades led to a near doubling of GDP per capita, lifting the country through the threshold for middle-income status in 2011. GDP per...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2021
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| Online Access: | http://documents.worldbank.org/curated/undefined/178001636617909989/Ghana-Rising-Accelerating-Economic-Transformation-and-Creating-Jobs http://hdl.handle.net/10986/36580 |
| Summary: | Ghana has been a rising growth star
and a beacon of hope in West Africa. Strong economic growth
over the past two decades led to a near doubling of GDP per
capita, lifting the country through the threshold for
middle-income status in 2011. GDP per capita grew by an
average of 3 percent per year over the past two decades,
putting Ghana in the top ten fastest growing countries in
Sub-Saharan Africa (SSA). A rising tide has tended to lift
all boats. Poverty rates more than halved between 1998 and
2016, and the extreme poverty rate declined from 36.0
percent in 1991 to 8.2 percent in 2016. The net primary
school enrollment rate rose from 62.5 percent in 2000 to
86.0 percent in 2019. This progress has motivated the
government’s goal to lift the country to high-income status
by 2057. The focus of this Country Economic Memorandum (CEM)
is to review options for Ghana to create enough higher
quality jobs through economic transformation. Economic
transformation, or inclusive productivity growth, occurs as
people and resources shift from lower to higher productivity
activities. It raises household incomes and living
standards, thereby lifting people out of poverty. It can be
achieved through the movement of workers and other resources
between firms and sectors, or through workers staying within
existing firms that benefit from within-firm productivity
growth by adopting better technologies and capabilities. |
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