The Economic Development Record: Case Study

Executive Summary:

This paper tries to solve Ghana, an African country,'s development issue of poverty. Using information from the World Bank's World Development Indicators and the UNDP's Human Development Data, the study examines the social and economic problems contributing to Ghana's poverty contribute to poverty in Ghana. The paper also considers the limitations of information collections.

While Ghana has made strides in decreasing poverty over the past ten years, the problem has not entirely vanished, especially in rural regions, according to the report's conclusions. The availability of needs like clean water, healthcare, and education is low, and there is a widening economic divide.

The research urges policymakers and non-governmental organizations to give top priority to initiatives that deal with Ghana's poverty's underlying causes, such enhancing access to essential services. Initiatives should also be taken to promote job creation and reduce economic disparity.

Introduction:

Ghana is a tiny country in West Africa with an inhabitants of roughly 31,000,000. Even though Ghana has recently had phenomenal economic progress, poverty is still a serious issue there.

According to the International Monetary Fund's statistics, 23.4% of individuals worldwide were regarded as living below the poverty line as of 2017, with rural regions seeing the highest rates of deprivation.

This essay's goal is to assess the economic and social factors that contribute to unemployment in Ghana and provide solutions. It accomplishes this by using data collected by the World Bank's World Development Indicators and the UNDP's Human Development Data.

Indicator Analysis:

The prevalence of poverty, academic success, access to medical treatments, sanitation space available, gaps in income, and advancement in the economy are just a few of the factors this research examines. With the use of these metrics, it is possible to analyze in depth the numerous financial and social variables that affect employ ability in Ghana.

Poverty Rates:

Ghana's population was estimated by the International Monetary Fund to be 23.4% poor as of 2017. However, the number of poor people have decreased over the past ten years, falling from 28.5% in 2006 to 23.4% in 2017. Even while there has been progress, poverty is still a major problem, especially in isolated areas. In response to the Ghana Statistical Service, 30.7% of rural residents and 11.6% of urban residents, respectively, lived in poverty in 2018.

Education Levels:

The ability to receive learning is crucial for reducing poverty. As of 2018, the International Monetary Fund (IMF) reported that Ghana has an 83% primary school graduation rate and a 79% literacy rate. But there are still obstacles to getting to school, particularly among rural areas. The statistical agency for Ghana reports that as of 2018, just 47% of children in rural areas attended primary school, compared to 89% of children in urban areas.

Access to Healthcare:

It is equally important to have access to healthcare in order to fight poverty. According to the World Bank, there were 1.04 hospital beds for every 1,000 people in Ghana as of 2016, and there were 0.09 physicians per 1,000 residents. In addition, many regions of the nation lack access to even the most basic medical treatment. According to the Ghana Health Service, as of 2019, just 37% of healthcare facilities in rural areas have access to even the most fundamental emergency obstetric and newborn care services.

Access to Clean Water:

Health and welfare depend on having access to clean water. Only 14% of Ghana's population had access to securely managed water services as of 2017, although 62% of people have access to basic water services, according to the World Bank. Only 40% of the rural population has access to even the most basic water services, thus limiting access to clean water in these regions.

Income Inequality:

Income inequality is a serious development issue in many countries, including Ghana. According to the World Development Indicators of the World Bank, Ghana has a high Gini coefficient of 42.8, which demonstrates the country's severe income disparity. The fact that a small portion of the population owns an inordinate proportion of the country's wealth suggests that Ghana's income distribution is highly skewed.

The information also reveals that in Ghana, the richest 20% of the population receives almost 50% of the nation's total revenue, while the lowest 20% get less than 5%. The country's ability to develop sustainably and reduce poverty are both significantly hampered by this expanding wealth disparity. The intense concentration of economic activity in a select few urban areas, especially the nation's capital city of Accra, is one of the key causes of Ghana's income inequality. Due to this, access to opportunities, services, and resources differs significantly between urban and rural locations, with many rural populations having limited access to structures fundamental services, and treatment.

Migration from rural to urban regions has further expanded the inequality gap because there aren't many well-paying occupations or prospects for entrepreneurship in the countryside. Another element that adds to economic disparity is Ghana's limited access to credit and financial services, especially for small businesses and the impoverished in rural areas. Statistics show that just 36% of Ghana's adult population has access to formal financial services such as pensions, insurance, and banks. The income gap between the wealthy and the poor has increased because there are less opportunities for the poor to invest in their businesses and assets.

In addition, gender inequality has a significant role in Ghana's economic discrepancy. Women are more likely to work in the unorganized sector, which offers lower wages, less job stability, and restricted access to social safety nets. As a result, women today make less money than males do for the same type of labor. Further limiting their capacity to invest in their enterprises and other assets is the fact that women have less access to financial resources and services.

Measures such as promoting equal opportunities for men and women, increasing access to credit and financial services, increasing chances for education and skill-training, and encouraging inclusive economic growth are all required to minimize income disparity in Ghana. Additionally, actions should be taken to encourage rural development and lessen the imbalance in opportunities and services between urban and rural populations. The country's long-term economic growth, social cohesiveness, and decrease of poverty would all benefit from a more equitable allocation of income.

Climate change

Here is a sample table that illustrates how climate change affects a nation's economy and development:

According to the country or region being studied and the data available, this table can be modified.

To give a succinct and clear account of how climate change is affecting the development issue being addressed, it can be included in the PowerPoint presentation and/or the Word summary report. To further assist visualize the data and show changes over time, charts and graphs may be included with the table.

Data sets

You may utilize a variety of data sets, such as:

1. World Development Indicators published by the World Bank: This data collection gives a thorough overview of global development concerns, such as poverty, health, education, gender equality, and economic growth. It offers indicators that may be used to monitor progress towards reaching development goals and includes more than 200 economies.
2. Data on human development from the UNDP: This data collection gives an index that ranks nations based on their degree of human development and includes metrics of human development including life expectancy, education, and income.
3. National Data Sets: These data sets include information that is country-specific and may be utilized to paint a more complete picture of the development issue in a particular nation. The National Bureau of Statistics in China, the United States Census Bureau, and the Philippine National Statistics Office are a few examples of national data sources.
4. Data on temperature, rainfall, and natural catastrophes are all included in these collections of data that describe patterns and trends in the climate.The Global Historical Climatology Network (GHCN) and the National Oceanic and Atmospheric Administration's (NOAA) Climate Data Online (CDO) are two examples of data sets related to climate.
5. Data sets on gender issues, such as gender-based violence, women's economic involvement, and political empowerment, are available. Gender datasets include, for instance, the UN Women Gender Statistics Database and the World Bank Gender Data Portal.

To offer a thorough insight of the development issue, it is crucial to combine several data sets. Utilizing various data sets can assist to get beyond some of the limits of each data set and produce a more accurate and nuanced analysis. Each data collection has strengths and weaknesses of its Own.

Limitations:

The constraints of the data sets utilized in this presentation must be considered. There are various restrictions on their usage and interpretation, even though they offer insightful perspectives into the development issues highlighted.

First off, the data sets could not accurately reflect the whole population or the relevant region. For instance, household surveys could only include a specific proportion of homes, and those households might not be an accurate representation of the full population. This may cause data bias and restrict the findings' ability to be generalized.

Second, there's always a chance that the data contains mistakes or errors. This could happen for several reasons, such a glitch with the survey devices itself or a human error during data collecting or input. Since each estimate has a margin of error, it is crucial to evaluate the data carefully and take this into consideration.

Finally, it's possible that the data sets don't paint a comprehensive picture of the development issues raised. The data sets could not include information on certain crucial factors, such as social capital, cultural norms, and political institutions. Understanding the complexity of development challenges requires taking these elements into account in addition to the data sets.

Overall, the data sets included in this presentation are essential sources of knowledge, but it is crucial to recognize and understand the results in light of these constraints.