so, there is an argument to be made that Nkrumah’s development effort was not exactly a failure, as it is generally conceived. As documented in Chapter Five, there was a sharp disconnection between the policies of Nkrumah and his military replacement, in that the military government was devoted to proving the failure of the Nkrumah regime (partly to justify the military coup and their ruling position). The military government, for example, expelled foreign technical advisers manning the factories and mechanised farms created under the diversification scheme (1,100 Russians and 430 Chinese), such that even a minor breakdown of equipment brought factories to a halt, especially in the 1,205 mechanised farms established as part of the diversification scheme (Dunbabin, 1994, 282). It was this calculated attempt to undermine Nkrumah’s diversification effort that rendered the effort a failure. To return to the issue: Ghana joined the trade system in the Lomé Convention (1975), which marks the end of the comparative study. In the Lomé Convention, ruling elites in West African countries sought to guarantee existing economic systems by obtaining a promise from the EC to institutionalise price stabilisation for existing export products (through STABEX) and to continue the preferences of the Yaoundé Convention. However, as former British colonies joined the trade system in 1975, products that were not part of the Yaoundé Convention became part of the protection scheme under the Lomé trade system. The inclusion of new protected products under the Lomé Convention affected resource allocation in former French colonies (Ravenhill, 1985). Sugar is the example used in this study. A sugar protocol was created under the Lomé Convention, comprising a quota system wherein the EC promised to pay more than world-market prices for ACP sugar. Whilst this protocol broadly reflected the extraversion policy under the Yaoundé Convention and French colonial policy in the late 1950s, the introduction of the sugar scheme (borrowed from the British Commonwealth sugar program) was new to the former French colonies. Therefore, only three years after the Lomé Convention, 66 massive sugar complexes were in construction in ACP, of which six were planned in Côte d’Ivoire. The allocation of resources to sugar production turned out to be an instance of misallocation, causing crisis in Côte d’Ivoire. The sugar case shows the distortion of economic incentives in
so, there is an argument to be made that Nkrumah’s development effort was not exactly a failure, as it is generally conceived. As documented in Chapter Five, there was a sharp disconnection between the policies of Nkrumah and his military replacement, in that the military government was devoted to proving the failure of the Nkrumah regime (partly to justify the military coup and their ruling position). The military government, for example, expelled foreign technical advisers manning the factories and mechanised farms created under the diversification scheme (1,100 Russians and 430 Chinese), such that even a minor breakdown of equipment brought factories to a halt, especially in the 1,205 mechanised farms established as part of the diversification scheme (Dunbabin, 1994, 282). It was this calculated attempt to undermine Nkrumah’s diversification effort that rendered the effort a failure. To return to the issue: Ghana joined the trade system in the Lomé Convention (1975), which marks the end of the comparative study. In the Lomé Convention, ruling elites in West African countries sought to guarantee existing economic systems by obtaining a promise from the EC to institutionalise price stabilisation for existing export products (through STABEX) and to continue the preferences of the Yaoundé Convention. However, as former British colonies joined the trade system in 1975, products that were not part of the Yaoundé Convention became part of the protection scheme under the Lomé trade system. The inclusion of new protected products under the Lomé Convention affected resource allocation in former French colonies (Ravenhill, 1985). Sugar is the example used in this study. A sugar protocol was created under the Lomé Convention, comprising a quota system wherein the EC promised to pay more than world-market prices for ACP sugar. Whilst this protocol broadly reflected the extraversion policy under the Yaoundé Convention and French colonial policy in the late 1950s, the introduction of the sugar scheme (borrowed from the British Commonwealth sugar program) was new to the former French colonies. Therefore, only three years after the Lomé Convention, 66 massive sugar complexes were in construction in ACP, of which six were planned in Côte d’Ivoire. The allocation of resources to sugar production turned out to be an instance of misallocation, causing crisis in Côte d’Ivoire. The sugar case shows the distortion of economic incentives in
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