After nearly a decade of strong growth fueled by the commodities boom, which ended in 2010-11,...

 

Transcribed Image Text:

After nearly a decade of strong growth fueled by the commodities boom, which ended in 2010-11, Ghana's economy remained undiversified and vulnerable to external shocks, with high levels of poverty. About 40 percent of workers work in non-wage agriculture and most urban workers are in low- productivity informal jobs. Ghana has also suffered in recent years from a self-inflicted energy crisis, leading to macroeconomic instability and a financial sector weakened by high levels of bad loans. Ghana's ability to attract sizeable (domestic or foreign) investment is hampered by constraints of the real sector at four levels. First, domestic demand (market size) is insufficient to attract large investments that can benefit from economies of scale, unless these are export-oriented. Second, macroeconomic instability creates uncertainty for investors. Third, inadequate availability and reliability of basic infrastructure, such as energy and transport, and difficult access to land, deter investment. Fourth, weak managerial and entrepreneurial skills reduce firms productivity. Source: World Bank Report on Creating Market in Ghana, 2017 Sectoral Distribution of Nominal GDP 100.0 80.0 41.4 39.8 43.2 46.7 46.0 46.3 60.0 40.0 36.9 38.1 34.6 30.6 32.7 34.0 20.0 21.7 22.0 22.1 22.7 21.2 19.7 0.0 2013 2014 2015 2016 2017 2018 Services 41.4 39.8 43.2 46.7 46.0 46.3 Industry Agriculture 36.9 38.1 34.6 30.6 32.7 34.0 21.7 22.0 22.1 22.7 21.2 19.7 Source: GSS Required: a) Discuss two solutions to the constraints of the following real sector; I. Agriculture Sector I. Industry Sector II. Service Sector (12 marks) b) Propose one initiative for the Agriculture sector that Ghana can be implemented in order to change the social economic fortune of the nation. (8 marks) [20 marks] REQUIREMENT The above assignment is an individual assignment. The assignment should be done in an essay format with proper referencing (APA Style). A maximum of six (6) pages with a Times New Romans as the font style in size of 12 of 2.0 spacing. (This exclude cover pages and references) The cover page of the soft copy should have the name of student with his/her resp ctive student number. The assignment should be submitted in Portable document file (PDF). After nearly a decade of strong growth fueled by the commodities boom, which ended in 2010-11, Ghana's economy remained undiversified and vulnerable to external shocks, with high levels of poverty. About 40 percent of workers work in non-wage agriculture and most urban workers are in low- productivity informal jobs. Ghana has also suffered in recent years from a self-inflicted energy crisis, leading to macroeconomic instability and a financial sector weakened by high levels of bad loans. Ghana's ability to attract sizeable (domestic or foreign) investment is hampered by constraints of the real sector at four levels. First, domestic demand (market size) is insufficient to attract large investments that can benefit from economies of scale, unless these are export-oriented. Second, macroeconomic instability creates uncertainty for investors. Third, inadequate availability and reliability of basic infrastructure, such as energy and transport, and difficult access to land, deter investment. Fourth, weak managerial and entrepreneurial skills reduce firms productivity. Source: World Bank Report on Creating Market in Ghana, 2017 Sectoral Distribution of Nominal GDP 100.0 80.0 41.4 39.8 43.2 46.7 46.0 46.3 60.0 40.0 36.9 38.1 34.6 30.6 32.7 34.0 20.0 21.7 22.0 22.1 22.7 21.2 19.7 0.0 2013 2014 2015 2016 2017 2018 Services 41.4 39.8 43.2 46.7 46.0 46.3 Industry Agriculture 36.9 38.1 34.6 30.6 32.7 34.0 21.7 22.0 22.1 22.7 21.2 19.7 Source: GSS Required: a) Discuss two solutions to the constraints of the following real sector; I. Agriculture Sector I. Industry Sector II. Service Sector (12 marks) b) Propose one initiative for the Agriculture sector that Ghana can be implemented in order to change the social economic fortune of the nation. (8 marks) [20 marks] REQUIREMENT The above assignment is an individual assignment. The assignment should be done in an essay format with proper referencing (APA Style). A maximum of six (6) pages with a Times New Romans as the font style in size of 12 of 2.0 spacing. (This exclude cover pages and references) The cover page of the soft copy should have the name of student with his/her resp ctive student number. The assignment should be submitted in Portable document file (PDF).

Answer rating: 100% (QA)

1 ISSUES FACING AGRICULTURE SECTOR Inadequate marketing Information barriers Poor storage and transport facilities Unavailability of proper fertilzers Solutions The formation of cooperative societies ... View the full answer