TITLE:
Ghana’s Oil Discovery and Natural Resource Curse Nexus
AUTHORS:
George Asumadu, Daniel Ofori, John Agyei, Ali Yahuza Bawa
KEYWORDS:
Dutch Disease, Ghana’s Oil and Gas Discovery, Agricultural Sector, Economy
JOURNAL NAME:
Modern Economy,
Vol.12 No.12,
December
28,
2021
ABSTRACT: This paper draws on the concept of the natural
resource curse theory, the Dutch disease, to critically review the impact of
Ghana’s oil discovery on the performance of the agricultural sector through a
desk review. We also combed on the various directories for articles in academic
journals, bulletins, governmental and non-governmental reports and magazines
for any salient data on the topic. Drawing on the experiences of other
countries on Dutch disease, we argue that the dwindling performance of the
agricultural sector after the discovery of oil and gas is a reflection of Dutch
disease. We recommend that the government
take proactive measures to ensure balance and engineer growth in the
agricultural sector which is the mainstay of the majority of the citizenry.
Measures such as youth in agricultural programmes, planting for food and jobs,
subsidies, and recognition to successful farmers should be encouraged to ensure
that the productive base of the sector is working to propel GDP growth.