Abstract: The dominant issue and the purpose of this study surround the prevention of Dutch Disease in the Ghanaian economy through transparency, restoration of fiscal sustainability, and responsibility with the oil revenue. Therefore, in this paper, we were interested in finding out whether Ghana government has put in place the desired policies recommended by World Bank that would increase transparency in how the oil revenue would be allocated; and restore fiscal sustainability and responsibility. This was the path recommended by World Bank for Ghana to follow and avoid Dutch Disease. Our findings indicated that Ghana thoroughly complied with the World Bank recommendations. Further, Ghana enacted the appropriate legislations and put in place institutional infrastructure to effectively manage its oil revenues. However, we can conclude from our findings that Ghana' s problem is not the lack of policies to prevent Dutch Disease, but fiscal sustainability and fiscal management discipline dating back to the 1960s.Owing to lack of fiscal sustainability and fiscal management discipline, Ghana ,since 1960s,has been forced to seek debt restructuring or fiscal sustainability and Management help from IMF/World Bank (including programs in 1967, 1972,1983, 1999, 2001, and 2009, 2012 and 2015).
Keywords: Dutch, IMF, Oil, sustainability; Bank, Debt.
Title: Oil Revenue and the Economy of Ghana: Dutch Disease Prevention
Author: Professor William Kwame Dadson
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
Research Publish Journals
