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Ghana - International Competitiveness : Opportunities and Challenges Facing Non-Traditional Exports

ADB ADJUSTMENT PROGRAM AGRICULTURE ARABLE LAND AVERAGE TARIFF BANKING SYSTEM BRAIN DRAIN BUSINESS ENVIRONMENT COMPARATIVE ADVANTAGE COMPETITIVE POSITION COMPETITIVENESS CONSUMER PRICE INDEX CONSUMER PRICES CONSUMERS COST OF CAPITAL CPI CURRENCY CUSTOMS PROCEDURES DEVALUATION DOMESTIC INFLATION DUTY DRAWBACKS ECONOMIC GROWTH ECONOMIES OF SCALE EMPIRICAL EVIDENCE EMPLOYMENT EXCHANGE RATE EXCHANGE RATE POLICY EXCHANGE RATES EXCLUSIVE RIGHTS EXPORT DIVERSIFICATION EXPORT EARNINGS EXPORT GROWTH EXPORT OPPORTUNITIES EXPORT PERFORMANCE EXPORT PRICES EXPORT PROCESSING EXPORT PROCESSING ZONE EXPORT PROSPECTS EXPORT SECTORS EXPORT SHARE EXPORT STRUCTURE EXPORTERS EXPORTS EXTERNAL CREDIT EXTERNAL SHOCKS FACE VALUE FACTORS OF PRODUCTION FINANCIAL SECTOR FINANCIAL SERVICES FISCAL ADJUSTMENT FISCAL POLICIES FISCAL YEAR FISHERIES FISHING FLEXIBLE EXCHANGE RATE FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN INVESTORS FOREIGN MARKETS FOREIGN TECHNOLOGIES FOREIGN TRADE FORESTRY GDP GDP DEFLATOR GENERALIZED SYSTEM OF PREFERENCES GLOBAL MARKETS GROSS DOMESTIC PRODUCT GROWTH RATE GROWTH RATES HIGH TARIFFS HUMAN CAPITAL IMPORT PRICES IMPORT SUBSTITUTION IMPORTS INCOME INCOME INEQUALITY INDUSTRIAL RELATIONS INDUSTRIALIZATION INFLATION INSURANCE INTEREST RATES INTERMEDIATE GOODS INTERNATIONAL COMPETITIVENESS INTERNATIONAL MARKETS LABOR COSTS LABOR FORCE LABOR PRODUCTIVITY LABOR UNIONS LAWS COMPETITIVENESS EXPORT CAPACITY EXPORT COMPETITIVENESS NON-TRADITIONAL EXPORTS FOREIGN INVESTMENT AGRO-INDUSTRY EXPORTS PREFERENTIAL TREATMENT EUROPEAN UNION ENVIRONMENTAL REGULATIONS FOOD SAFETY BUSINESS ENVIRONMENT MICROECONOMIC ANALYSIS CASE STUDIES NATURAL RESOURCE DEVELOPMENT IMPORTS REGIONAL TRADE LABOR INTENSIVE INDUSTRIES HANDICRAFTS INFRASTRUCTURE DEVELOPMENT COMPARATIVE ADVANTAGE EXPORT DIVERSIFICATION
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Washington, DC
Africa | Ghana
2013-08-30T16:04:28Z | 2013-08-30T16:04:28Z | 2001-06-21

The report first reviews macroeconomic aspects in Ghana, identifying that much of the non-traditional exports' expansion, reflects sporadic foreign investments in key agro-processing activities - which enjoy preferential treatment in European markets - but, its value-added seems at best marginal, questioning its sustainability, should preferences be removed. Besides compliance with a growing number of European Union regulations on environmental, and food safety standards, Ghana will need to create a favorable business environment to attract foreign investment, and raise competitiveness of exporting firms. The study then analyzes microeconomic competitiveness, through four case studies on natural resource-based exports; efficient import substitution, and expansion into regional markets; labor-intensive, light manufactures and services; and, culture and arts manufactures. Constraints identified by exporters are industry specific, while, main cross-cutting issues, relate to the trade regime, and the provision of infrastructure. Findings of this report suggest that an export strategy for a country at Ghana's stage of development, should be based on two basic principles: maximizing the returns to current comparative advantage; and, over time, "catalizing" export diversification towards more sophisticated sources of advantage.

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