Ghana's Black Gold Rush: Analyzing the Effects of Globalization, Political Leadership, Insecurity, and Oil on Development and Unemployment From 1960 to Present.

摘要

This study investigates Ghana's development history over the course of its four Republics, from Independence in 1960 to the present day. In light of recent oil discovery in Ghana's Jubilee Field, the research explores globalization, political leadership, and insecurity to determine the extent to which oil export can improve upon Ghana's development challenges and abate its rising unemployment rate among the country's most economically productive age group, those aged 15-35. Globalization refers to global economic partnerships like those between the Government of Ghana (GoG), and International Financing Institutions (IFIs) like the IMF, World Bank, and China Development Bank, and between GoG and Foreign Oil Companies. Political leadership is revealed in the economic decision-making of political administrations over the four Republics. Insecurity is explored both in terms of socioeconomic and sociopolitical. The data for this investigation was collected from expert and in depth interviews, and field research in Ghana's capital region of Accra and in the Western Region of Sekondi-Takoradi, where oil exploration and extraction operations are ongoing. Data was analyzed by triangulating development against globalization, political leadership, and insecurity as the three analytical categories. The research concludes that neither of the development paradigms attached to financial agreements from the Western Consensus and Beijing Consensus banks is inherently "bad." The trick is to funnel revenues and loan financing to projects and economic sectors that grow the economy by creating employment opportunities. Lastly, this study also presents recommendations to maximize the benefits of oil export and engagement with development partners..