THE ROLE OF REGIONAL AND BILATERAL TRADE AGREEMENTS IN THE ECONOMIC DEVELOPMENT OF GHANA (Case: Ghana-China Relations) (MANAGEMENT PROJECT TOPICS AND MATERIALS)
ABSTRACT
After the post-independence era of Ghana, development has been at a slow or retrogressive pace. This has resulted in a GDP of 3.6% in 2016, the lowest in 20 years.
The purpose of the research is to analyze the role of regional and bilateral trade agreements to Ghana’s economic development after the post-independence era. To meet the thesis objective both qualitative and quantitative research methods were applied. The author designed an unstructured interview style to gather relevant primary information from credible sources via Skype. Secondary data were obtained from electronic and printed sources.
The research findings demonstrated that trade is an important tool for rapid economic development if the issues of corruption, industrialization and the application of new economic concepts were implemented.
Finally, the results from the research could be generalized in accessing the fundamental economic problems of Ghana. However, further research in trade financing and the economic policy of countries could further enhance rapid economic growth in Ghana.
Key words: economic development, trade relations, foreign direct investment, corruption, industrialization
1 INTRODUCTION
This research-based thesis aims at investigating the merits and demerits of trans-Saharan and international trade Ghana has been part of since the thirteenth century. The primary focus of the study will unearth the pivotal roles these trade agreements have contributed to Ghana’s economic development since attaining independence and to provide recommendations to enhance progressive, stable and vibrant economic development in future. The results of the research will also enable the Ministry of Trade and Industry assess the overall performance of Ghana’s trade policy and analyse the West African trade market for prudent measures to be applied for improvement.
In subsequent chapters the author provides a background of the thesis topic, explains the research process and objectives, and introduces the case study on which the study is based on for which its results will be beneficial to the Government and people of Ghana.
