Aku Kwapong Much has been said about the Asian Crisis among economists worldwide, with lessons to be learned drawn out for Latin America and other economies in transition. I believe Ghana can learn a lot from the Asian crisis as it struggles to build a middle-income level society, whatever that means. Development is a dangerous game and if a country wants to play, it better play well and according to the rules else it risk destroying lives and a whole economy.
People often wonder why the gap between developed countries and a country like Ghana keeps widening.
Second, those who rule and decision-makers are selected based on competence and proven leadership abilities not because they wield the gun. Five years later, the comparable road in the US stands intact, while that in Ghana is full of potholes and out of service. The World Bank is indeed right when it says rural road system is being mismanaged. That illustration underlies the first lesson Ghana can learn from the Asian crisis. Lack of transparency and pervasive overlay of corruption, as witnessed in Asia, exist in Ghana today and have rendered most of the government institutions ineffective at helping the private sector develop.