Question 1 - Ghana: An Africa Dynamo
Case background information
In 1957, The East African nation of Ghana gained its independence from British. The problem of corruption was rampant in Ghana for the next few decades. Most of the Ghana economy was dominated by state-owned enterprises because of their colonial past and socialist ideology adopted by the government.
In 1981, a coup put Jeremy Rawlings in power. He started effective anticorruption operation and liberalize the economy. Also, he privatized state-owned enterprises and drew up market-based reform.
Nowadays, Ghana was one of the fastest growing countries in sub-Saharan Africa in the past ten years. In 2011, Ghana achieved a growth rate in GDP of 13.5% and steady GDP growth rate in …show more content…
The export contribution to GDP is 40% in Poland while it is only 12% in The United State. (Rostowski, 2011) Polish balance of trade also has an increasing trend from 2007 to 2014. (EUROSTAT, 2014) These figures explains the extraordinary performance of Poland in the international trade market. In additional to the trade performance, the real GDP has doubled throughout the 3 decades since the political reform, while the neighbor countries Czech Republic and Slovakia has a comparatively lower increase of 70% and 45% respectively. (Rostowski, …show more content…
Entrepreneurs use the innovation to create new strategies and market to facilitate people’s trading or consumption. For example, the innovation of online shopping increases a great extent in volume of transactions. Richter (2014) points out that EBay has increasing the revenue continuously and rapidly due to the innovation of online shopping (Table1). The trend can explained by the convenience of less time-consuming and the cheaper prices provided from different local or international sellers. Moreover, online shopping creates numerous job opportunities to different industries. Oxford Economics Report (2011) examines that online shopping created around 22,000 direct employments to express industry in Europe in the past seven years (Table2). Some industries like advertising, customer services and retail could be indirectly benefited due to the innovation of e-commerce also. The above increase in transaction and production would contribute to consumption expenditure and value of export in the components of GDP which boosts economic
Case background information
In 1957, The East African nation of Ghana gained its independence from British. The problem of corruption was rampant in Ghana for the next few decades. Most of the Ghana economy was dominated by state-owned enterprises because of their colonial past and socialist ideology adopted by the government.
In 1981, a coup put Jeremy Rawlings in power. He started effective anticorruption operation and liberalize the economy. Also, he privatized state-owned enterprises and drew up market-based reform.
Nowadays, Ghana was one of the fastest growing countries in sub-Saharan Africa in the past ten years. In 2011, Ghana achieved a growth rate in GDP of 13.5% and steady GDP growth rate in …show more content…
The export contribution to GDP is 40% in Poland while it is only 12% in The United State. (Rostowski, 2011) Polish balance of trade also has an increasing trend from 2007 to 2014. (EUROSTAT, 2014) These figures explains the extraordinary performance of Poland in the international trade market. In additional to the trade performance, the real GDP has doubled throughout the 3 decades since the political reform, while the neighbor countries Czech Republic and Slovakia has a comparatively lower increase of 70% and 45% respectively. (Rostowski, …show more content…
Entrepreneurs use the innovation to create new strategies and market to facilitate people’s trading or consumption. For example, the innovation of online shopping increases a great extent in volume of transactions. Richter (2014) points out that EBay has increasing the revenue continuously and rapidly due to the innovation of online shopping (Table1). The trend can explained by the convenience of less time-consuming and the cheaper prices provided from different local or international sellers. Moreover, online shopping creates numerous job opportunities to different industries. Oxford Economics Report (2011) examines that online shopping created around 22,000 direct employments to express industry in Europe in the past seven years (Table2). Some industries like advertising, customer services and retail could be indirectly benefited due to the innovation of e-commerce also. The above increase in transaction and production would contribute to consumption expenditure and value of export in the components of GDP which boosts economic