Development Paths in Africa and China by Ukandi G. Damachi, Guy Routh, Abdel-Rahman E.Ali Taha

By Ukandi G. Damachi, Guy Routh, Abdel-Rahman E.Ali Taha

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The inquiry, described above, into peasant households, was followed by one into urban households, where respondents were asked to compare life in the country (from which most of them had come) with life in the town. I give some extracts from the replies: When he got employed he sent for his family to join him. Since then he has made a lot of debt mainly for food and medical care. Today he earns Shs. 205 [per month], and pays Shs. 40 for lodging [one room], and Shs. 100 to 150 for food. He remains with very little for other basic expenditure.

But on 8 July 1967, the par value of the new cedi was reduced, representing a devaluation of 30 per cent. Currently the new cedi is equivalent to US $1·0. 1 • Provisional. t For Period 1960-5. 1 2 3 4 5 6 7 8 9 10 11 12 TABLE 42 DEVELOPMENT PATHS IN AFRICA AND CHINA summarises the data for the two terminal years of the period, and averages for two sub-periods: 1955-7 and 1959-61. 2 gives a picture of the sectoral structure of the Ghanaian economy. e. items 1 to 3) appears to be the largest single element for it accounts for slightly over 50 per cent of the total GDP.

3 respectively. Differences in the base year for market prices make the separation of the tables necessary. 2 t 1966 722 689 165 172 250 207 -9 +16 1128 1084 334 306 -350 -277 1122 1113 -19 -14 1093 1099 142 138 0·5 1965 724 193 154 +7 1078 288 -233 1113 -17 1116 137 1·5 1967 1112 288 -251 1149 -29 1120 134 0·4 757 213 142 1968 797 226 155 +11 1189 277 -268 1198 -32 1166 136 4·1 1969 825 254 160 +14 1264 289 -305 1248 -35 1213 138 4·0 1970· Source: Ghana Ministry of Finance, Budget Estimate for 1971-2.

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