Enhancing Private Sector Development in Ghana: Policies, Challenges, and the Role of the Private Sector in the Development of Ghana.

26 Pages Posted: 2 Dec 2020

See all articles by Mabel Hoedoafia

Mabel Hoedoafia

Ruhr University of Bochum - Institute of Development Research and Development Policy; Catholic University College of Ghana

Date Written: October 8, 2020

Abstract

This paper aims to bring to light policies that have been geared towards the private sector in Ghana over the years and to highlight the contributions of the private sector to Ghana’s development as well as the challenges that stifle the growth of the sector. It also highlights the evolution of the development discourse on private sector development. Documentary research method and secondary data from the Ghana Statistical Service were employed. The paper reveals that the private sector accounts for about 87.7% of jobs in Ghana’s industry and close to 85 % of jobs in the private sector are on permanent basis as against 15% in the public sector. Also, average earnings in the private sector are relatively higher compared to the public sector. Lastly, in as much as policies have been instituted to propel the growth of the private sector, there are still several bottlenecks that impede the growth of the private sector in Ghana. Hence, policy makers must continue to create a business-friendly environment for the private sector to flourish. Also, policy interventions geared at the private sector must take into consideration the size, location, and business sector of enterprises. The paper is relevant for policy makers as it draws attention to both what has been done and what still needs to be done to make the private sector in Ghana viable.

Keywords: Private sector, Ghana, privatization, structural adjustment, neoliberalism

JEL Classification: L33, N87, O29, Z18

Suggested Citation

Hoedoafia, Mabel Akosua, Enhancing Private Sector Development in Ghana: Policies, Challenges, and the Role of the Private Sector in the Development of Ghana. (October 8, 2020). Available at SSRN: https://ssrn.com/abstract=3707756 or http://dx.doi.org/10.2139/ssrn.3707756

Mabel Akosua Hoedoafia (Contact Author)

Ruhr University of Bochum - Institute of Development Research and Development Policy ( email )

Building GB, Room 1/59
Bochum, D-44801
Germany

Catholic University College of Ghana ( email )

Ghana

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
20
Abstract Views
108
PlumX Metrics