Searching for a development paradigm in Ghana: Can the ‘Beijing Consensus’ provide an Anchor?

Abstract

Abstract. Since independence, Ghana has implemented many development paradigms, from big-push state-led industrialization to neoliberal market-oriented policies. However, the goal of industrialization has eluded the country. In recent years, new home-grown policy initiatives are beginning to replace neoliberal prescribed policies of Western donors and financial institutions. This study explores these new innovations focusing on the One District One factory initiative. We make the case that the policy is an innovative thinking on industrialisation and may reflect a realignment of Ghana’s development paradigm with the Beijing Consensus after many years of being taunted as a success story of IMF-World Bank neoliberal reform programmes. Keywords. Neoliberalism, Development, Beijing consensus, Washington Consensus, industrialisation. JEL. O29, O25, O10, F59.