“This is a must-read for any business leader who wants to thrive in this time of disruptive change.” — Prof Kofi N. Afful, Retired Associate Professor of Economics at University of Cape Coast & Founding Member of The Evangelical Methodist Church of Christ, headquartered in Cape Coast.
Policies For Technological Development, Innovation And The Sustained Economic Growth Of Ghana
According to Kuznets (1964, 1966, 1970), the following structural changes have accompanied the growth of the advanced industrial and the newly-industrialising economies over time. Click here for more
About the book
The nation of Ghana is stuck in a low level technological trap because, without the provision of adequate infrastructure, development of skills, a thriving capital goods sector, especially design engineering, and a minimum quantum of entrepreneurs, the country is unable to produce anything for herself using domestic resources, and is dependent on imports for most of her needs, and colonial style primary products exportation to pay for import expenditures. Of course, the results are a small and uncompetitive industrial sector, deficits in the fiscal and current accounts, inflation, currency depreciation, debt overhang, inability to fulfil the expectations of the population, and all that this means for good governance.
The book delves into the causes of this lack of technological savvy, and singles out the educational system as the chief culprit. It then suggests that the country can attain sustainable growth if
What People Are Saying
When it comes to mapping the brave new terrain of social technologies, Prof. S. K. Adjepong is miles ahead of the curve. Policies for Technological / Innovation Development and the Sustained Economic Growth of The Ghanaian Economy serves up a detailed and flexible plan of attack that will prove invaluable to forward-thinkers everywhere.Professor Sam K. AdjepongPrincipal, Methodist University College
Whether you're a global brand, small local business, or individual who wants to turn your passion into a livelihood, this book simply and clearly articulates how to channel the power of social media to delight audiences and grow your business.Isaac AcquahCEO, ITECH SOLUTIONS
Every Country today must think of itself as a technology Innovated and become customer-obsessed. Policies for Technological / Innovation Development and the Sustained Economic Growth of The Ghanaian Economy elegantly, succinctly, and powerfully describes why, how, and what to do.Dr. Ama Fowa HammondLecturer, University Of Ghana Legon & Lawyer
The book is insightful as it highlights not only social Economic practices but fundamental business practices and how Economic leaders need to entirely rethink customer engagement models. The book provides a powerful vision and compelling call to action for company leaders everywhere.Yohanna AgyeiDoctoral Student, University of West Florida
From understanding the needs of millennials to powerful marketing and economic strategies that drive sustained growth, Policies for Technological / Innovation Development and the Sustained Economic Growth of The Ghanaian Economy offers a comprehensive guide to implementing a Technological Development Innovation and culture change to address the complex demands of today’s economy.Dr. George Owusu EssegbeyDirector, Scientif and Technology Policy Research Institue(STEPRI)
The book answers a number of questions relating to how to go back to the basics, For example, it raises the quetion of how Ghana can promote and strengthen the linkage between Research and Industrial Development. This is a question which the nation is grappling with.Rev. Tony MosessOracle Center
What’s in the book
I. How Technological change / innovation interacts with Economic Growth and Development
The first three chapters are devoted to a discussion of the theoretical literature of the interaction between technological change and innovation and economic growth and development. We begin with definitions of growth and development, science and technology and the interaction between them, invention, innovation and diffusion, and the University-industry interaction We need to understand how these concepts are used because they constitute the building blocks of the entire book. This is followed, in chapter 2, by a review of economic growth models because they are inextricably linked with technological development and innovation. Chapter 3 deals with the prerequisites for achieving sustained economic growth.
II. Growth Models, Technological Change, Innovation and Economic Growth
The terms technological change, technological development, innovation are used interchangeably in this book. Technological change is a complex set of activities that transforms ideas and scientific knowledge into physical reality and real-world applications (Khalil, 2000). In other words, it is a process that converts knowledge into useful products and services that have socio-economic impact.
The Harrod-Domar model, introduced into economic literature by Roy Harrod and Evsey Domar, does not contain an explicit technological change variable. There are two reasons for considering it in a work of this nature. First it attempted to explain the growth of an economy that had somehow changed its factor proportions (which determine technological development) in such a way that capital has become the least scarce factor of production, and showed how capital accumulation could proceed even further. Secondly in the actual application of this theory to socio-economic development, injection of capital was made synonymous with technological change.
III. Education, the Bane of Ghana’s Development Efforts
The introduction of Western education into Ghana (and Africa) destroyed the African culture of linking education and training to community development and survival, and instead, engendered a mind-set that abhorred and looked down on manual activity, i.e. any activity that was not academic. This mind-set has become a big stumbling block to developmental policy making and implementation.
The way forward is for government and the managers of education to wake up to the realization of technological development as the prime mover of the development process and to design an educational system which turns out graduates with technological capabilities, and development orientation in addition to philosophers and graduates with administrative skills.
Policies For Technological Development,
Innovation And The Sustained Economic Growth Of Ghana