Ghanaian Policymakers Beware of the Dutch Disease!

An excellent account, done by Nana Adjoa Hackman, on how to prevent Dutch Disease problems that can arise from the recent discovery of an offshore oil reserve of more than 3bn barrels in Ghana is available here.

Probably the most important reminder of the article is that the "...government would have to come up with proactive policies to promote industrialization and diversification to ensure that the local economy can obtain maximum benefit through backward and forward linkages with the new industry..."

Do you think that Ghana will be up to the challenge and join the list of resource curse escapers? My guess is that if Ms. Hackman's pledge is followed by Ghanaian policymakers, then the country has a chance.