Are there Lessons African Economies can learn from China's Recent Economic Development: the case of Ghana

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ACKNOWLEDGEMENT

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University (Hartmann, 2008,, 468).

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TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

CHAPTER 1: INTRODUCTION1

Problem Statement1

Aims of the Study1

Objectives of the Study1

Methodology2

CHAPTER 2: MACROECONOMIC OVERVIEW3

Overview of China's Economy3

China's State Reform4

Foreign Pressures for Adaptability5

Socialist Ideology6

From Socialism to Capitalism7

Marx Theory9

Maoist China10

Ownership Reform Debate10

Stock Markets in China11

Comparative Analysis17

Geographic Location21

CHAPTER 3: ECONOMIC POLICY AND GROWTH: 1970-201225

Relationship between Chinese Economic Policy and Growth25

CHANGES IN DEMAND26

CHANGES IN PRICE27

NET TRADE UNDER ALTERNATIVE POLICIES27

CHINA'S GRAIN SELF-SUFFICIENCY28

Arguments for Chinese Economic Policy29

CHAPTER 4: LESSONS FROM CHINA: WHAT AFRICAN ECONOMIES CAN LEARN FROM CHINA'S RECENT DEVELOPMENT31

Theoretical Review31

Romer Growth Model35

CHINA'S CONTEMPORARY ECONOMIC CONTEXT42

REFERENCES44

CHAPTER 1: INTRODUCTION

Problem Statement

The study revolves around the question are there lessons African economies can learn from China's recent economic development: the case of Ghana. The study has analysed the topic by dividing it into the two sub sections that are Domestic and Consumption versus trade and exports. The study has looked at these topics in detailed in different sub sections that review the economic policies, growth of GDP and GDP/Capita and exports of the Chinese economy. The study on the China's recent development and lessons that Ghana can learn from Chinese economy is a diverse topic that takes into account range of concepts within the study and discusses it by relating it with the economy of Ghana.



Aims of the Study

The aim of the study is to analyse the recent development of China and compare it with the African countries by taking into account various concepts of economics like the economic growth and development, trade like export and import etc. The study will compare the results of Chinese development with that of Ghana economy while making the policies in the case of Ghana for devising it.

Objectives of the Study

The objectives of the study are to:

Analyse the policies of China with respect to their trade, consumption and economic growth

Compare these policies of China in relation to Ghana and provide appropriate results

Discuss the poverty reduction, growth and economic development strategy of China and Ghana

Critically examine these strategies for China and compare them with Ghana in terms of economic, cultural, historic, political and geographical perspective.

Methodology

The research encompasses the publications, articles and similar studies accessible on the internet. Keeping in view the approach taken in earlier studies the research began with a broad analysis of the existing literature. The findings & conclusions are based on the secondary data. The methodology used for the purpose of this research is based on the secondary data. This research is more or less based on the literature review & the conclusions are drawn on the basis of actual resources listed ...