Contribution to Book
A Comparative Analysis of the Structural Adjustment Programs in Ghana and Zambia
Jerry John Rawlings-Leadership and Legacy: A Pan-African Perspective
(2022)
Abstract
The external shocks stemming from the commodity market crash of the 1970s made many Sub-Saharan African (SSA) countries enter the 1980s in economic crisis. These economic shockwaves were even more pronounced in countries like Ghana and Zambia, which heavily depend on commodity exports for foreign exchange earnings. Ultimately, the mid-1980s felt like deja vu as many SSA countries, including Ghana and Zambia, desperately needed additional income streams to fund government spending. In response to the current account deficits and persistent budget deficits, these countries succumbed to the pressure of adopting Economic Recovery Programs (ERPs) and IMF/World Bank-sponsored Structural Adjustment Programs (SAPs). The chapter presents the evolution of the economies of Ghana and Zambia during the post-independence and the structural adjustment periods. The comparative analysis of the two countries includes a review of the main features of the specific policy reforms carried out by the Ghanaian and Zambian governments, respectively, between 1983 and 1992.
Disciplines
Publication Date
Winter 2022
Editor
Kumah-Abiwu, Felix and Abidde, Sabella
Publisher
Springer
Citation Information
Chali Nondo and Felix Kumah-Abiwu. "A Comparative Analysis of the Structural Adjustment Programs in Ghana and Zambia" Jerry John Rawlings-Leadership and Legacy: A Pan-African Perspective (2022) Available at: http://works.bepress.com/felix_kumah-abiwu/53/