The country has not been short of external advisors or policy planners. But until now there has been no comprehensive review of the Ghanaian economy that teamed independent Ghanaian academics with equally independent outside observers. Key findings of the research were that the structure of Ghana's economy is no different today from 30 years ago, before adjustment. It still relies heavily on exports of a few primary commodities. Similarly, a review of the fiscal framework shows little change in the structure of revenue and expenditures over the past 25 years.
Much public expenditure is ineffective.
As to the external trade position, research showed that policies have had little impact on the stabilisation of the real exchange rate. To expand, say the researchers, trade requires more than just the right policies. What the two periods had in common was fiscal prudence. The underlying structure of the economy did not change significantly under controlled or liberalised regimes. Both interventionist and liberal economic policies were motivated by a desire to achieve broader growth and development outcomes.