International Trade and Economic Growth in Ghana - Benefits, Constraints and Impacts

摘要

The purpose of the paper is to comprehensively look at international trade and economic growth in Ghana. The topic is to carefully look at the benefits of international trade to Ghana, the constraints faced by Ghana in international trade or globalization (internal and external constrains) as well as the impacts of these constraints to the macro economic development of Ghana. The paper has enumerated some fundamental benefits Ghana enjoyed from international trade such as faster economic growth, improved product quality, reduction in poverty level and promotion of good governance. The paper has also identified some of the constraints Ghana face from international trade or globalization which is external and internal factors such as, lack of capaciticies and trade related infrastructure, land acquisition problem, weak regulatory procedures as well as tariffs on agriculture products, refusal of the western countries to eliminate subsidies, foreign exchange problems, administrative barriers and low technological development. Furthermore, the manuscript has also drawn a brief summary of problems and suggestions to minimize some of these challenges and conclusion on the macro economic factors that has been affected by these constraints.