An Economic Development of Two Countries: Ghana and Malaysia

Abstract

Ghana and Malaysia had much in common four decades ago. They are both former colonies of the British Empire and they attained independence from Britain in the same year, 1957. Both independent countries began with a rich mix of resources, significant gold and foreign-currency reserves, strong British legal and political institutions, and similar educational systems. Malaysia had a GNP per capita of about US$200 and Ghana had a GNP per capita of US$170 in 1958.