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Trade and industrial cooperation between Korea and Ghana : Possibilities and partnership

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Frame of Image  lies in the fact that at the end of the five decades, one of these two economies has grown to become world’s 13th largest economy4) while the other remained a lower income economy as at the end of 2009. At the later part of the 1950’s both countries made attempts at economic growth and development through industrialization. The Korean indus-
trialization was export oriented5) whereas Ghana’s industrialization efforts, in line with the vision of its first president, Dr. Kwame Nkrumah was “not only to replace the imports but it would produce products that Ghana was too poor to have imported”.6) Also, while Korea’s international trade efforts were vigorously led by its government, Ghana’s international trade leaned more towards protectionism, with the government’s efforts (until the late 80’s) focused largely on its traditional exports of cocoa and gold. Weighing the failure of such inward and closed economic policies on one side against the success stories of emerging economies such as Malaysia, India and now OECD member, Korea, which had opened up their economies and encouraged international trade with other economies on the other, developing countries such as Ghana are beginning to reflect more the possible advantages of international trade cooperation and are increas-
1) Bawumia, M. (2010), Monetary Policy and Financial Sector Reform in Africa: Ghana’s Experience, Booklocker.com, Inc. 2) Werlin, H. H. (1994), Ghana and Korea: Explaining Developmnet Disparities - an essay in


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Title Trade and industrial cooperation between Korea and Ghana
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Sub Title

Possibilities and partnership

Material Type Reports
Author(English)

Joo, Dong-Joo; Amoo-Quaye, Victoria

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2011
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 16(no. 5)
Pages 12
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Holding KIET; KDI School

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